Japan vending machines market is anticipated to grow at a CAGR of 4.7% during the forecast period (2024-2031). The market growth is driven by the high acceptance and culture of vending machines across the country. Additionally, the continuous innovation provided by the companies to engage more customer base will aid the market growth. In July 2024, the country introduced new yen notes, leaving millions of vending machines obsolete, with only 30.0% of vending machines accepting them. The same has presented an opportunity to the market for the manufacturing of vending machines that are in line with the new currency.
Japan vending machine market is segmented by type (traditional vending machines and micro markets), by product (food & snacks, beverages, and others), and by application (supermarkets & retail stores, public places, offices/institutions, and others).
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Market Dynamics
- The beverage segment holds a major market share in the country, with non-alcoholic beverages marking the highest demand, with tea and coffee being the most consumed beverages in the country.
- The food & snacks are anticipated to project significant growth, owing to their accessibility, ease of use, and placement location in high-traffic areas such as train stations, shopping malls, office buildings, and street corners. Additionally, the variety of food options offered by these machines is also contributing to the segmental growth.
- The supermarkets & retail stores are anticipated to witness the highest CAGR growth during the forecast period. The segment is driving growth due to the availability of traffic in these areas. Additionally, the retailers can collaborate with the manufacturer to ensure high revenue generation.
The major players in the Japan vending machines market include Asahi Group Holdings, Ltd., Suntory Holdings Ltd., Sanden Holdings CORP., Fuji Electric Co., Ltd., and others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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Recent Development
- In December 2023, Coca-Cola Bottlers Japan introduced several thousand more vending machines featuring dynamic pricing. The novel vending machine changes the prices of the items according to their demand.
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