LONDON, UK – The new office and commercial coffee equipment and supplies market in North America research from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads. The COVID-19 pandemic Crisis and Recovery provides a detailed analysis of the office and commercial coffee equipment and supplies market in North America, with data and insights.
“One of the primary growth drivers for this market is the increasing demand for premium coffee,” says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
As the markets recover, Technavio expects North America to grow by USD 339.49 million during the period 2020-2024.
Office and Commercial Coffee Equipment and Supplies Market in North America Segment Highlights for 2020
- The market in North America is expected to post a year-over-year growth rate of -10.30%.
- Based on end-user, the offices’ segment saw maximum growth in 2019. The market growth in the segment will be significant during the forecast period.
- 77% of the growth will originate from the US region.
- The US will offer several growth opportunities to market vendors during the forecast period.
- The US and Canada are the key leading markets for office and commercial coffee equipment and supplies markets in North America.
- The market in North America size is expected to accelerate at a CAGR of almost 1% during the forecast period.
- The market in North America is segmented by end-user (Offices, FRC, Healthcare and hospitality, Education, and Others), distribution channel (Offline and Online), and geography (US and Canada).
- The market is fragmented due to the presence of many established vendors holding significant market share.