The Indian Ecosystem of Vending Machne Industry by 2029
The vending machine market in India has been witnessing a steady rise in demand over the past few years. As of 2024, the market is estimated to be valued at approximately INR 1,200 crore (around USD 160 million). This growth is largely driven by the increasing demand for convenience, the rising urban middle class, and the expanding retail sector. The market is expected to grow at a compound annual growth rate (CAGR) of around 15% over the next five years, reaching a value of INR 2,400 crore (approximately USD 320 million) by 2029. Vending Machine Market The Indian Ecosystem of the Vending Machine Market The vending machine market in India is shaped by various factors, including technological advancements, consumer behavior, government regulations, and industry partnerships. Let’s delve into these aspects in more detail: 1. Technological Advancements Smart Vending Machines : The Indian market is witnessing a shift towards smart vending machines that are equipped with advanced techn