In its just-released report on Food and Beverage Vending Trends in the US, Packaged Facts forecasts 1.5% market growth by 2015, on the heels of vending machine innovation that promises higher food and beverage quality, increased consumer interaction, increased cashless payment acceptance, and more aggressive competition with foodservice.
By product segment, the $11.7bn food and beverage vending market in the US draws 83% of sales from just two product segments; cold beverages and candy/snacks/confections.
By a wide margin, according to Packaged Facts survey data, consumers categorise their vending machine and mobile vending purchases as snacks, which account for about 57% of consumer vending machine and mobile vending spend.
Demographically, the growing Hispanic population ranks among the prime consumers for food and beverage vending. While Hispanic households comprise 12% of US households and only 10% of US household income, they are responsible for 20% of consumer vending machines/mobile vending spend.
According to David Sprinkle, research director for Packaged Facts, technological innovation holds the keys to future growth in the vending market. Social and interactive vending, touchscreens, and wireless supply-side networking are a big part of the equation, offering tremendous upside for consumer engagement. But virtually every macro driver in the vending market is heavily influenced by technological change, from cashless payments to health and quality vending enhancements.
Source: Packaged Facts
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