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Description
The beverage dispenser equipment market is anticipated to be valued at USD 14,836.7 Million in 2021 and is expanded to grow at a significant CAGR of 6.9% over 2022-2028. The global beverage dispenser equipment market is expanding because of urbanization and the increased number of customers. Furthermore, the rising number of pubs, cafeterias, and restaurants is expected to boost the market for beverage dispenser equipment. On the other side, the market for beverage dispenser equipment is expected to be hampered by high equipment costs and maintenance costs over the forecast period. The invention and technology will create additional prospects for the beverage dispenser equipment market to flourish in the coming years. However, rising operational concerns about its control may eventually provide a new obstacle to the beverage dispenser equipment market’s growth. Polycarbonate materials are used in the production of beverage dispensers. This material is very heat resistant, allowing for the creation of more robust and more durable containers while also allowing customers to see their contents. Fast food restaurants place a premium on expediency, which, along with rising consumer money, has increased yearly out-of-home spending on fast food. As a result of this demand, fast-food restaurants have grown up across the developing world. Due to the increased consumption of carbonated and healthy drinks in the population, the non-alcoholic segment has the most significant market share of more than 50%. It is predicted to grow at the fastest rate throughout the projection period.
Recent Market Developments:
In April 2022, LANCER CORPORATION, a US subsidiary of Hoshizaki Corporation announced that the launch of a new counter electric beverage dispenser, the CED 400, , takes place in April 2022. This dispenser targets the Asian market based on the sales company, Lancer Shanghai Co. Ltd. which was established in Shanghai in April 2020
In Sep 2021, Sweden’s Dometic Group AB, a maker of accessories for motorhomes, caravans, and boats, said it had agreed to buy U.S. cooler giant Igloo Products Corp. for $677 million.
