Since the introduction of the new government regulation, The Affordable Care Act, the Global Vending Machine Market is looking at making drastic changes to its operations. The new government regulation will ensure that retail food establishments with 20 or more locations will list calorie information for their menu items.
On top of this, intelligent vending machine operators that own 20 or more vending machines will be required to disclose calorie content also, as stated by the U.S. Food and Drug Administration (FDA). Although the government regulation currently allows for flexibility on nutritional value labelling, a start date for implementing nutritional value labelling is likely to come in February of 2014.
Such governmental regulations are good news for the growth of the Global Intelligent Vending Machine Market growing at a CAGR of 52.7 percent during the period of 2014-2018.
The FDA has estimated that roughly US$26 million will be required for the first year and US$24 million the following year, as reported by the Associated Press. Intelligent vending machine operators and restaurant businesses will have a year to comply with these government regulations in place, but at this point the Vending Machine Industry has asked for a two-year deadline.
The new government regulation means more business for the intelligent vending machine owners and restraurant businesses, as long as they intend to comply with nutritional value labelling within the future deadline. According to market research analysts at TechNavio, government regulation in many countries have made labelling of nutritional value on products mandatory, and any intelligent vending machine today is capable of displaying this information quite clearly.
This is a major driver contributing to the growth of the Global Intelligent Vending Machine Market, as the LCD screens integrated in some of the latest vending machines, it shows the nutritional value of products. Favourable government policies like these continue to increase the sales of intelligent vending machines, thereby contributing to the overall growth of the market.
In addition to government policies and technological advances in the intelligent vending machine market, an influential trend contributing to the mareket is the availability of easy payment options.
Intelligent vending machine operators have now begun to offer convenient payment methods such as payment via smartphones. Since the use of smartphones is gaining traction rapidly, the availability of easy payment options indicates a boost in the adoption of intelligent vending machines.
Overall, it is clear that government regulation like ObamaCare are forcing vending machine operators to begin thinking about how to display nutritional value labels. In addition to this, technological advances in the Global Vending Machine Market are helping to further the growth of the market.
For more information, view our 2014-2018 Global Intelligent Vending Machine Market Report.
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