The global soda water dispenser market size is expected to reach USD 1.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% over the forecast period. The growth in the market is attributed to consumer spending on quick and convenient soda dispensing options, along with the rise in demand from the quick service restaurants. Moreover, drastic changes in the purchasing power of consumers in developing countries such as China and India are likely to drive the demand over the forecast period.
The market is driven by increasing number of fast food restaurants in Asia Pacific, along with rise in sales of cost effective and plastic free products in the industry. Growing working population, rise in disposable income of consumers, and increasing preference for a fresh and active working environment in the commercial industry are anticipated to boost the product demand. Moreover, growing demand for hygienic products as well as efficient and dispensing appliances is anticipated to drive the market.
A large number of manufacturers and distributors are entering the industry due to growing demand for soda water dispensers that are convenient and reliable for consumers. The soda dispenser reduces the cost of packaging and bottling and gives higher profit margins to its owners, thereby resulting in boosting the sales in the market over the forecast period.
The soda water dispenser market in Asia Pacific is anticipated to witness significant growth due to high consumer demand for hygienic and effective soda dispensing appliances, along with growing product launches in the market. Moreover, rise in the product sales has been observed due to the local vendors providing soda drinks through the machines in Asia Pacific. However, increasing domestic manufacturers in the segment due to a wide consumer base and demand have driven the market.
Growing consumer demand for fresh and quick dispensing options for soda drinks in the market, along with increasing focus of leading players on developing the products with automated features and increased efficiency, will fuel its demand in the market. Rise in product launches and marketing campaigns by the companies so as to increase their product offerings in the market is a key driving factor. The market is recognized by a few initiatives such as acquisitions and mergers and online sales. Key players in the market include The Coca-Cola Company; Pepsico Inc.; Dr. Pepper; Lancer Corp.; and Cornelius, Inc.
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Further key findings from the report suggest:
- In terms of revenue, countertop products accounted for the largest share of 69.1% in 2018
- Lever dispenser style dominated the global market with an overall share of 71.3% in 2018
- North America dominated the global market in 2018, accounting for 42.1% share of the overall revenue. This trend is projected to continue over the next few years
- The soda water dispenser market in Asia Pacific is anticipated to witness growth due to increasing disposable income in India, South Korea, China, and Japan
- The industry is highly competitive in nature with the main players including The Coca-Cola Company, Pepsico Inc., and Dr. Pepper, Lancer Corp., and Cornelius, Inc.