A latest insightful report of Fact.MR slates the global Blenders Market to register a volume CAGR of 4.5% in the forecast period, 2017 to 2026. Revenues from worldwide sales of blenders are expected to close in on approximately US$ 4,500 Mn by 2026-end.
With the rise in per capita income of consumers, particularly in emerging countries, demand for various domestic food preparation equipment such as blenders has witnessed a surge. The number of female buyers associated with household appliances, with their pressing requirements for ease and convenience, has skyrocketed across the globe. In addition, pervasiveness of demand for technologically advanced electric kitchen appliances is likely to prevail, especially among demographics with higher GHDI.
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Narrowing gender differences in the field of occupation has meant that more and more women are opting for jobs, in order to become independent as well as provide financial support to their families. Additionally, female workers have surpassed their male counterparts in terms of cultivating productivity potential and defining brighter future for their junior employees. With the proliferation of working women worldwide, requirement for time-saving electric kitchen appliances such as blenders and food processors is on the rise.
One of the prominent demand driver for blenders is the rapid boom in ecommerce sector around the world. In developing countries of Asia and Latin America, ecommerce sector has become the key determinant for sales of various consumer electronics and home appliances, which have become the prominently sought-after category of consumer goods. Additionally, Consumer electronic product vendors are increasingly venturing into the blenders market, in order to leverage their already established occupancy across the online retail space.
Owing to financial difference among the global demographic, size of residential spaces differ accordingly as not everyone can afford living in mansions with size of kitchens equaling small apartments. With robust population expansion, living spaces are undergoing contraction, apartments and houses are reducing in size, and efficiency has become the new normal in the construction industry. Among new trends in the residential construction sector, the most popular one is leveraging minimal space, which in turn affects floor areas of kitchen primarily.
Faced with ever-shrinking kitchen sizes, demand for time-saving compact food appliances has surged, which in turn has resulted into the development of all-purpose counter blenders. This product development has enabled elimination of bulk storage issues, lugging machines in the kitchen, and clutter. Improved functionality, power, safety and compact size are key demand drivers of these blenders.
Developing countries of Asia-Pacific excluding Japan (APEJ) are expected to prevail as major consumers of blenders worldwide, which can be attributed to their rising disposable incomes and increasing adoption of technologically advanced consumer electronic products. In countries such as China and India, the booming ecommerce sector is boding well for kitchen appliance sales.
Consumer electronic product manufacturers in APEJ are focusing on establishing their presence in online retail sector, which will further influence sales of blenders in the region. APEJ is expected to remain the fast-expanding market for blenders both in terms of value and volume.
Characterized by the occupancy of well-established and diversified regional and international vendors, the global market for blenders is fragmented in nature. While international players in the market are concentrating on extending their footprint, regional players are facing challenges in competing them based on cost, technology, and product quality. Key players profiled by the report include PHILIPS, Midea, Joyoung, Panasonic, SUPOR, BRAUN, ACA, and Deer.
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