Hand Blender - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Hand Blender - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Global hand blender market was valued at USD 3200 million in the current year and was expected to register a CAGR of less than 5% during the forecast period.

Customers' rising standard of living, an increasing number of nuclear families, and surging demand for healthy drinks are key factors driving the market growth. The increasing number of working women and the preoccupied schedules of people in urban cities are likely to fuel the demand for hand blenders. The robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to drive the demand for commercial appliances over the forecast period. Economic factors, such as the rising population, increasing disposable income of consumers, and growing awareness about different small kitchen appliances, such as hand blenders, deep fryers, and egg cookers, are projected to impact the market positively.

A rise in spending on portable cooking appliances among families to enhance cook comfort is expected to be a major driver of the global hand blender market. Moreover, expenditure on high-tech kitchen appliances like hand mixers is expected to be stimulated by the growing acceptance of luxury lifestyles in the world's Middle Ages. An important factor contributing to the worldwide hand blender market's growth is these machines' multifunction nature. The Hand Blenders are an innovative and flexible appliance that offers a cost-effective option for consumers concerning its use in different functions, e.g., mixing, pureeing, or emulsifying. Hand blenders are a popular and important household kitchen appliance for their broad range of uses.

Moreover, owing to the increasing number of working women and a worldwide decline in household size, consumers are increasingly adopting kitchen appliances that offer better space management and multiple functionalities. These portable kitchen devices are on the rise in both domestic and business contexts, for example, bakeries and fast food restaurants. Major kitchen appliance manufacturers have invested in developing countries to reach the largest potential customer base in an unexplored market.

Hand Blender Market Trends

Rise in Commercial Segment

The largest market shares are expected to be gained in the commercial sector over the forecast period. The increase in the segment is due to increasing infrastructure, such as restaurants and hotels all over the world; in 2022, there were a total of 1 842 hotels opening around the world. Moreover, growing consumer interest in leisure tourism and activities is expected to further support demand for this product throughout a range of tourist destinations worldwide. That is to say, it stimulates growth in the segment.

The Asia Pacific Region Is The Fastest Growing Market

As the number of people willing to invest more in home appliances and kitchen products increases, emerging countries are experiencing a buying surge that is pushing demand for hand blenders. In recent years, Asia has seen an increasing trend towards home cooking and this is driving demand for hand blenders as more people are looking to cook their meals at home.

In the last few years, this region has experienced a marked increase of e-commerce sales which is driven by increased demand for hand blenders because more and more people are purchasing them online. The growth in the Asia Hand Blenders Market has been supported by increased purchasing power and increasing popularity of kitchen cooking in these countries.

Hand Blender Industry Overview

The market is highly fragmented, with many small and large appliance makers selling their products globally. International players pose tougher competition to the existing players and thus give immense scope for further product development and innovation. A few key players in the market include Philips, KitchenAid, Cuisinart, Breville, and Kent, among many other actively functioning companies worldwide.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support