is expected to skyrocket by $4.55 billion in the next four years, a market research firm predicted.predicts that the market will grow at a compound annual growth rate of 5.84% between 2022 and 2027. They cited new product launches as a driving force in the market.
"For instance, 79% of consumers owned espresso machines at home in 2021, and vendors are offering a variety of machines to cater to the demand," Technavio explained. However, the study noted that fluctuating raw material prices could cut growth short. The study also explained that the market is fragmented.
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