Top Export Markets for Vending Machines
If you are a vending machine manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 8476 (Automatic goods-vending machines)
Vending Machine Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 1 billion in 2016). However average annual import growth between 2012 and 2016 was actually negative in this region. This means entering the market and gaining share would be quite difficult. Unfortunately most other regions also showed negative growth during this time period.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Vending Machine Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are Hong Kong, Japan, China, Vietnam, Malaysia and Australia. China, Vietnam and Malaysia have strong import growth as well. In addition, Taiwan and Thailand also have high growth in imports making them great targets for expansion.
Vending Machine Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are Netherlands, United Kingdom, France, Germany, Austria, Spain and Switzerland. Netherlands, United Kingdom, Germany and Austria have positive growth in imports as well. In addition, Romania, Czech Republic, Poland, Norway, Lithuania, Hungary, Bulgaria and Portugal have high growth in imports although limited volume.
Vending Machine Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Mexico, Colombia and Chile. Import growth in these countries however has been negative.
Vending Machine Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are United Arab Emirates, Israel and Saudi Arabia. The United Arab Emirates also has strong growth in imports as well.
Vending Machine Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. Both however have negative year over year import growth.
Vending Machine Imports Analysis for South Asia Countries
Within South Asia, the country with the highest volume of imports in 2016 is India. India however has had negative year over year growth in imports.
Vending Machine Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, there aren't many countries with significant import volume of these products.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.