The global vending machine industry has experienced dramatic growth over recent decades, mainly driven by developing automation technology coupled with rising demand for fast-moving consumer goods (FMCG) around the world. Currently, Europe is the largest market for vending machine production and consumption, while Italy remains the world’s largest vending machine producer and exporter. As the global retail sector continues to shift to more automated and intelligent devices, the vending machine industry in Italy is expected to grow further, and business opportunities with Italy’s top vending machine manufacturers are also expected to flourish in the near future.
A vending machine is an automated machine that traditionally sells products such as snacks, drinks, and cigarettes, lots of other products nowadays can be also served through vending machines. The success and demand for these vending machines are largely depended on the fact that it saves huge labor cost, reduces cash transaction, and increases card payments. Today, vending machines are becoming one of the new and popular retail channels that are widely used in various of locations and selling different products around the world. The latest phenomenal applications of vending machines include providing free food to homeless people, distributing sanitary napkins at airports, and even selling luxury cars in China.
According to the recent report from Global Industry Analysts Inc, the total installation of intelligent vending machines around the world is projected to reach 3.8 million units by 2024, driven by benefits such as ease of use, higher operating efficiency, and ability to offer a more engaging retail experience. Other major factors, including the emergence of the Internet of Things (IoT), growing preference among consumers for cashless payments and self-service and rapid urbanization around the world are also facilitating the growth of the global vending machine market.
Geographically, Europe and the US are currently the largest vending machine markets, supported by the high demand for low labour cost, preference of more convenient shopping experience, and development of cashless and credit card payment systems. However, Asia-Pacific, led by China, Japan, and India, is expected to emerge as the fastest growing market for vending machine usage over the near future, poising a CAGR of 14.1% from 2016 to 2024. The market growth in Asia-Pacific is believed to be mainly driven by the rising urban population, fast development of retailing infrastructure and the change of shopping habits.
Italy has been one of the leading players in the global vending machine industry when it comes to vending machine production and export. According to data from Statista, the total annual turnover of the vending machine industry in Italy has peaked in 2015 at over 1.8 billion euros. As of 2016, the total annual turnover of the vending machine industry diminished to roughly 1.8 billion euros.
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The Italian association of automated retail Confida reports that over 65% of global vending machine production takes place in Italy. 70% of vending machines for food and drinks produced in Italy are sold abroad. As reported by Italian Food, the exports of made in Italy vending machines in the first 6 months of 2017 are worth almost 213 million Euros, with an increase by 5% over the same period of 2016.
Although Europe remains the most important marketplace for Italian vending machines, the extra EU market is booming, with an increase by 16% in value, which reaches 22.6% of total exports. South America accounts for 4.4%, the Asian markets are worth 6.5%, and the Middle East 3.4%. Among the Countries that allowed recording the most significant improvements there are China (+ 214%), Mexico (+ 171%), Brazil (+ 150%), and Malaysia (+ 150%).
The prominence of the vending machine industry in Italy has attracted a significant number of buyers and traders from all over the world. To help your automated retail business stays at the top of the industry, BizVibe provides the best solutions to source the products and make the best business deals with the top vending machine manufacturers in Italy. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and exporters on BizVibe.
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