Industry Insights, Market Size, CAGR, High-Level Analysis: Hand Blender Market
The global hand blender market size was valued at USD 229.2 million in 2018. Increasing spending on portable kitchen appliances for adding more convenience to the cooking among households is expected to be the key factor driving the market. Moreover, shifting preferences towards a luxury lifestyle among middle-income age groups at a global level are expected to promote the spending on advanced kitchen appliances including hand blenders.
Consumer preference has been shifted to portable kitchen appliances on account of fast moving lifestyle. Adoption of compact and multipurpose kitchen appliances among the working class population has been significantly increasing as a result of shift in interest towards the home-cooked food for a healthy lifestyle. Furthermore, with an increase in the female working population and decreasing average household size at a global level, consumers are adopting the kitchen appliances with excellent space saving and multi-functional characteristics.
These portable kitchen appliances are widely used in household purposes as well as commercial purposes including bakeries and small food joints. Major kitchen appliance manufacturers are investing in the developing countries to gain maximum customer penetration in the untapped market.
For instance, in September 2018, DeLonghi Group announced its plans to expand the portable kitchen product portfolio including blenders, hand blenders, and hand mixers supply, which were launched under the brand name ˜Braun. The company is also planning to launch its one of the most successful hand blenders ˜Braun MultiQuick 5 Baby. The product is equipped with a 350 watt motor, coupled with two speed settings. Moreover, this blender is designed in such a way that it is suitable for making perfect baby food puree.
Product Insights of Hand Blender Market
Corded blender was the largest product segment, accounting for a share of more than 75.0% in 2018. These products are considered to be energy consuming devices as they high power rating labels. Moreover, corded products have high work efficiency with direct home supply. Cordless products are gaining popularity owing to the ease of use and convenience associated with the devices. Manufacturers are developing high rating label batteries as these devices require high voltage.
In addition, in order to increase the devices functionality, manufacturers are offering blenders with various attachments for multi-purpose food, coupled with various speed settings. In order to cater to the significant rise in the demand for the latest technological blenders, manufacturers are focusing on new product launches.
For instance, in October 2016, Braun GmbH launched its brand new and technologically advanced product ˜MultiQuick 9 Hand blender MQ 9087X. The product comes with the worlds first ˜ACTIVEBlade technology. Moreover, according to the company, the up and down motion of ACTIVEBlade blends the foods with approximately 40% less effort.
Distribution Channel Insights
The offline segment was the largest distribution channel in 2018, accounting for 75.5% share. In developing countries such as India, Thailand, Vietnam, Bangladesh, and China, these channels are expected to remain a key choice as selling mediums among the buyers. In addition, major retail chains Reliance Digital, Croma, and Vijay Sales are investing in opening new stores in order to gain a competitive edge in the market.
Online distribution channel is expected to be the fastest growing segment with a CAGR of 8.7% from 2019 to 2025 owing to high ease of shopping and convenience associated with the channel. Furthermore, online platforms including social media and google ads play an important role in influencing the consumer preferences for purchasing home electronic devices including hand blenders through e-commerce platforms, such as Rakuten, Amazon, Walmart, and Flipkart.
In addition, increasing high-speed internet and smartphone availability in developing countries such as India, China, Indonesia, and Vietnam are expected to fuel the expansion of the online channels for the electronic products market over the forecast period. The companies are launching their exclusive online websites where the customers can buy genuine products directly.
Regional Insights of Hand Blender Market
North America was the largest market, accounting for a share of 30.5% in 2018 owing to significant demand for modular kitchen appliances in U.S. and Canada. Moreover, consumers are increasingly adopting the portable and technologically advanced kitchen products including cookware and kitchenware.
Asia Pacific is expected to be the fastest growing region, expanding at a CAGR of 9.0% from 2019 to 2025 owing to presence of the two fastest growing economies such as China and India. These countries have a strong market potential for the compact kitchen appliances including hand operated blenders. The domestic manufacturers are launching new products in order to cater to the significant increase in the demand for compact hand operated blenders. For instance, in April 2018, Bajaj Electricals Ltd., India based electrical equipment manufacturing company, launched its brand new hand blender under the brand name ˜Bajaj HB10.
Market Share Insights of Hand Blender Market
The hand blender market is fragmented in nature owing to presence of a large number of strong players as well as new entrants. Industry participants are gaining market share by introducing excellent technological products. Furthermore, key manufacturers are adopting product innovation strategy aimed at expanding the buyers base.
For instance, in October 2017, Smeg S.p.a., an Italy based home appliances manufacturer, launched its technologically advanced portable and compact device under the brand name ˜HBF02 hand blender. The company has worked in its ergonomic and provided it with anti-slip grip. The device consists of 700 W motor with a variable speed controller.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Hand Blender Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global hand blender market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)