Fountain Soda Machines
While the official market size of the United States was not publicly available, our team was able to calculate that the estimated market size of fountain soda machines in the country will be US$343.5 million in 2020.
- According to the analysis presented by Grand View Research, the global market size for the fountain soda machines pr soda water dispenser industry reached US$1 billion in 2018 and is expected to continue growing at a 5.4% CAGR between 2019 and 2025.
- Based on the information by Hashtap, the global market reached US$1,026.6 million in 2019 and will reach US$1,316.7 million by 2024.
- According to the same report, the US market of fountain soda machines grew from US$0.29 billion to US$0.30 billion between 2015 and 2016 and has continued to grow consistently and expected to continue until 2025.
- North America had the largest market share in the world, with 42.1% in 2018.
- The companies driving market penetration are the quick service restaurants like Domino's, Pizza Hut, KFC, Burger King, and Subway.
- Additionally, the leading fountain soda manufacturers in North America are Dr. Pepper, Pepsico Inc., and The Coca-Cola Company.
- The leading firms of soda fountain machines are Himalay Soda Fountain, Cool Star, Lancer, Zikool, Softy and Soda, Cornelius, Manitowoc, Planet Soda Machine, Soda Parts, and Real Beverage.
- The market is distributed by machine design in counter-top and drop-in machines. While the counter-top design is the preferred style, with a 69.1% market share in the US and the world, the drop-in design's market size will grow at a 6.4% CAGR until 2025.
- Based on its dispenser style, the breakdown is between the lever and push-in styles. The lever style has the largest market share, 71.3%, while the push-in style has been growing at 6.9% CAGR between 2018 and 2025.
To determine the market size of fountain soda machines in the US, we began searching through industry websites like BevNet, articles, and interviews with leaders in the industry like Coca-Cola's website, and other economical magazines like Forbes and Money. However, while these articles spoke about newer products, none of them had information about the industry's market size in the US.
As our second step, we looked through industry reports like the ones presented by Grand View Research, Hashtap, Value Market Research, AE Research, Reuters, etc. Our idea behind this strategy was finding the percentage represented by the US in the global market to calculate its market size. While these reports presented the global market size and North America's market share, but there was little information about the US market size since most of the data was hidden behind a paywall.
The most relevant data was found in the Grand View Research report, the US market size growth from 2015 (US$0.29 billion) to 2016 (US$0.30 billion) with a prediction of continued growth at a similar pace until 2025. We used these data points to calculate the growth percentage between 2015 and 2016 and used that percentage as CAGR to calculate the estimated market size in 2020.
First, we used an online CAGR calculator to determine the growth between 2015 and 2016, taking 2015's market size of US$0.29 billion or US$290 million as the initial value, and 2016's market size of US$0.30 billion or US$300 million as the end value, over one period.
From our first calculation, we found that the growth between 2015 and 2016 was 3.45%Next, since the US market presents a consistent growth year over year until 2025, we took 2016's market size as our initial value and used the same growth percentage as our CAGR until 2020, or over four periods.
The results indicated that, if the US market for fountain soda machines continues to grow at the same speed, the size in 2020 is an estimated US$343,592,151.36 or US$343.5 million.
For easier access, the screenshots of every calculation were included in the attached document. Finally, we concluded that this market size seems to confirm the information that in 2018, North America represented 42.1% of the global market size of US$1 billion, from which the US is the largest market.