South Korea Coffeemaker Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.4 Billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030.
The South Korean coffeemaker market is experiencing significant growth, driven by the nation's evolving coffee culture and technological advancements. As of 2024, the market is projected to reach USD 79 million by 2029, reflecting a robust compound annual growth rate (CAGR). This surge is largely attributed to the increasing demand for premium and technologically advanced coffee machines among South Korea's tech-savvy consumers.
Key trends shaping the market include:
Technological Innovation: Consumers prioritize features that offer convenience and customization, leading manufacturers to introduce machines with advanced functionalities.
Home Brewing Popularity: The rise in home brewing has boosted sales of various coffee machines, including espresso machines, drip filter coffee machines, and pod/capsule coffee machines.
Online Retail Expansion: The proliferation of online retail channels has made coffee machines more accessible, contributing to market growth.
In the capsule coffee machine segment, Nespresso dominated with approximately 62% market share between May 2022 and April 2023. However, domestic brands like Kanu are entering the market, intensifying competition.
From an industry perspective, the commercial sector, encompassing cafes and restaurants, continues to be a significant consumer of coffeemakers. The demand for high-quality, efficient machines is paramount to meet customer expectations in these establishments.
As a coffee enthusiast residing in South Korea, I've observed the increasing preference for specialty coffee and the convenience of home brewing. The availability of diverse coffeemaker options has transformed the coffee experience, allowing individuals to enjoy café-quality beverages at home.
In summary, the South Korean coffeemaker market is poised for continued growth, driven by technological innovations, evolving consumer preferences, and the expansion of online retail channels. Industry stakeholders should focus on delivering high-quality, customizable, and convenient solutions to meet the dynamic demands of South Korean consumers.
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Nespresso
Delonghi
Philips Senseo
Bosch
Melitta
Illy
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Coffeemaker Market
Drip Coffeemakers
Single-Serve Coffeemakers
Espresso Machines
French Press
AeroPress
Percolators
Cold Brew Coffeemakers
Automatic
Manual
Hybrid (Combination of automatic and manual)
Ground Coffee
Coffee Pods
Coffee Capsules
Whole Beans (with built-in grinder)
Students
Young Professionals
Home Makers
Low-end (< $50)
Mid-range ($50 - $150)
High-end (>$150)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Coffeemaker Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Coffeemaker Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Coffeemaker Market, By Type
6. South Korea Coffeemaker Market, By Application
7. South Korea Coffeemaker Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Coffeemaker Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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