"Overview of Hand Blender market"
The Hand Blender Market Is Anticipated To Reach Market Valued At US$ 405.7 Mn by 2027, Growing At A CAGR Of 6.5% during the Forecast Period
The global Hand Blender market is estimated to show impressive growth during the period of the research study. Some of the factors fuelling the growth of the global market include product innovations, inclination towards luxurious life, the rising popularity of modular kitchen, and the rising number of restaurants and hotels.
Rising Adoption Of Multi-Purpose And Compact Kitchen Appliances Coupled With Growing Working Population Is driving The Global Market
The increasing working population prefers the appliance which automates the time-consuming kitchen tasks and reduces their time spend in the kitchen. Also, rising awareness regarding healthy lifestyles is encouraging the consumers to opt for home-cooked food which is expected to surge the demand for hand blenders across the globe. The hand blenders are compact and portable which give multi-functional and space-saving facilities. The rising number of food trucks and small food joints is anticipated to impact the growth of global market in a positive manner.
However, commercially available substitutes for hand blenders might hamper the growth of the global market at a minimal extent.
The Corded Blender Segment Held Larger Share in Global Hand Blender Market
Based on the product, the corded blender was the highest shareholder in 2018. The corded blender provides enhanced work efficiency easy and convenient to use which results in significant demand for these products. However, these products consume higher energy which might limit the growth of the segment at a minimal extent.
Additionally, the manufacturers are continuously launching new products with advanced features such as various speed settings and several attachments for multi-purpose food aimed at catering the demand for technologically advanced products.
Online Segment is anticipated to Witness Lucrative Growth during the Forecast Period
On the basis of the distribution channel, the online segment is forecasted to show lucrative growth over the forecast period. The online channels offer hassle-free shopping and user-friendly environment. Also, google ads and promotional activities play an important role in influencing consumers to but products from online platforms including Flipkart, Rakuten, Walmart, and Amazon. Moreover, the manufacturers are launching their online websites and tie-ups from e-commerce websites intended to increase their customer base. The rising smartphone penetration and increasing internet speed are propelling segment growth.
Furthermore, the offline segment held a maximum share in the global market. The growth of the segment is propelled by the growing number of new stores for retail chains including Vijay Sales, Croma, and Reliance Digital. The offline stores are majorly preferred in emerging economies including China, India, Vietnam, Bangladesh, and Thailand.
North America is projected to dominate the Global Hand Blender Market during the Forecast Period
By geography, the global hand blender market is led by North America. The region is expected to dominate the global hand blender market throughout the forecast period. The rising popularity of modular kitchen particularly in Canada and the U.S. is fuelling regional growth. Moreover, consumers are inclining towards advanced and portable kitchenware and cookware products in order to make their everyday kitchen tasks easier. This is expected to significantly surge the demand for hand blender in North America.
On the other hand, Asia Pacific is estimated to grow rapidly in the coming years. This is mainly due to strong market potential in emerging economies including China and India. Moreover, the rising demand for compact hand blenders is influencing the manufacturers to introduce new products which are expected to create a new scope for regional growth.
In March 2018, De'Longhi announced the launch of their new Braun Household product line. The new collection comprises of some powerful and advanced blenders and some other household products to make kitchen tasks easier.
In December 2018, Dawlance one of the leading Pakistani Player in Home appliances introduced their new addition in hand blender product line named DWHB 875. The product is commercially available in Pakistan.
Key players operating in the global hand blender market are Vitamx, Breville, Russell Hobbs, ESGE, Philips, JVC Kenwood, Panasonic, Whirlpool, K-Tec, Electrolux, and Cusinart.
Global Hand Blender Market by Product Type
Global Hand Blender Market by Distribution Channel
Global Hand Blender Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America