The Japan vending machine market is set to experience significant growth over the forecast period of 2023-2030, according to a recent report by RationalStat. The market was valued at US$ 595.2 million in 2023 and is expected to grow at a CAGR of over 6.7%.
In Japan, vending machines are a prevalent and deeply ingrained aspect of society. They offer a wide range of products, including snacks, beverages, cigarettes, tickets, hot meals, and even electronics. These machines are found on practically every street corner, in train stations, office buildings, and even in remote areas, providing people with easy access to a variety of products 24/7.
The report analyzed the Japan vending machine market based on various segments, including type, mounting type, temperature setting, technology, payment method, end user, and geography/regions. The beverage vending machine segment accounted for the largest market share in 2022 and is expected to continue its lead throughout the forecast period. The market is also dominated by hotels, restaurants, and cafes as a result of the increase in coffee shops, shopping malls, hotels, restaurants, and other facilities.
The report provides global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. It covers market values and volumes, demand assessment, customer sentiments, price points, cost structures, margin analysis, historical and forecast data, key developments, import-export data, trade overview, and more.
The Japan vending machine market is highly competitive, with Japanese companies, brands, and global manufacturers adopting various strategies to gain a competitive edge. Some of the strategies include mergers & acquisitions, partnerships and collaborations, and product launches. For example, Kirin Holdings launched the “Kirin Hot Meal Vending Machine” in June 2022, offering a variety of hot meals. Lawson also launched a vending machine in May 2022 that sells fresh fruits and vegetables. Fuji Electric developed a contact-free vending machine in March 2021, responding to the need for contactless and cashless solutions.
Prominent players in the Japan vending machine market include Fuji Electric Co. Ltd., Smartvend (Canonigo Enterprise LLC), TPK Vending Corporation Co., Ltd., Hunan Xingyuan Technology Co., Ltd., OMRON SOFTWARE Co., Ltd., Otsuka Wellness Vending Co., Ltd., and more.
Overall, the Japan vending machine market is expected to see significant growth in the coming years, driven by factors such as convenience, technological advancements, and the increasing demand for self-service and automated solutions.