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Hand Blender Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hand blender products market was valued at USD 4.4 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. Hand blenders are gaining popularity due to their convenience and ease of use. In addition, these products are becoming more affordable due to the increasing competition among manufacturers. Furthermore, the rising trend of small-sized kitchen appliances is also contributing to the growth of the market.
Manufacturers are focused on introducing new features in their products to provide enhanced comfort and convenience for consumers. For instance, in November 2021, Cuisinart launched a new hand blender with a unique swivel blade that can be rotated in both directions, allowing users to move the blade up and down the container without having to remove it. In addition, manufacturers are introducing advanced hand blenders with multiple speed settings to meet the needs of different consumers.
The increasing demand for multifunctional hand blenders is also driving the growth of the market. Multifunctional hand blenders are capable of blending, juicing, and chopping, which helps users save time in the kitchen. Furthermore, the growing demand for high-end hand blenders is expected to fuel the growth of the market in the near future. Manufacturers are introducing luxury hand blenders with superior features such as efficient motor, multiple speed settings, and stainless steel blades to provide users with a superior cooking experience.
The increasing demand for cordless hand blenders is also expected to boost the growth of the market. Cordless hand blenders are gaining popularity due to their lightweight and portability, as well as their ability to be used anywhere in the kitchen. Furthermore, manufacturers are introducing hand blenders with rechargeable batteries to provide convenience to users.
In addition, the increasing trend of healthy eating is also driving the growth of the market. Consumers are looking for products that can help them prepare healthy meals quickly and easily. Hand blenders are becoming the go-to kitchen appliance for making smoothies, purees, and soups. Manufacturers are introducing hand blenders with additional accessories such as chopping and grating attachments, which helps them cater to the growing demand for healthy food.
Product Insights
The immersion blenders segment held the largest share of the market in 2022. The growing demand for hand blenders for kitchen applications is attributable to the increasing awareness about healthy cooking among consumers. According to an article published by the University of Halmstad, in October 2020, 83% of people between the age of 18 and 24 are more likely to invest in kitchen appliances than any other age group. Furthermore, the increasing number of working women, growing disposable income, and the introduction of advanced and ergonomic hand blenders are driving the growth of the market.
The stand blenders segment is anticipated to expand at the fastest rate during the forecast period. Stand blenders are becoming popular due to their easy usability and convenience. According to an article published by Tiege Honley, in December 2020, 75% of people agreed that stand blenders are the best choice for making smoothies and other blended food items. In addition, the emergence of advanced and stylish stand blenders with numerous features is driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 35.2% in 2022. According to a survey conducted by Statista in 2020, supermarkets & hypermarkets are the most preferred retail channel for purchasing hand blenders. This is attributed to the availability of a wide range of products offered by these stores that allow customers to select the desired product based on their preference. In addition, these establishments also provide guidance and assistance to customers in selecting the right product.
The online segment is anticipated to expand at the highest CAGR of 11.5% over the forecast period. The increasing preference of customers to purchase products online due to the convenience and easy access to various products is expected to drive the segment growth. In addition, the presence of various e-commerce platforms, such as Amazon and Flipkart, has made shopping for hand blenders convenient and hassle-free. Companies also offer discounts, deals, and coupons on online purchases, which further provides a competitive advantage to the products.
Type Insights
The cordless segment held the largest revenue share of 57.9% in 2020. The cordless hand blenders are powered by rechargeable batteries and are more convenient to use and store. In addition, the cordless blenders are equipped with a rechargeable battery, a motor, and a blending blade that are all housed in the handle of the blender. This makes them portable and helps users to easily and quickly whisk, blend, and chop ingredients. Moreover, the increasing trend of outdoor cooking activities and the rising popularity of quick snacks such as smoothies and shakes are augmenting the demand for cordless hand blenders.
The corded segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. Corded hand blenders are powered by electricity and have a more powerful motor in comparison to cordless blenders. They are also equipped with additional features such as variable speed settings and a turbo-boost option for precise blending. Moreover, the advancements in technology have made the corded hand blenders more efficient and cost-effective, thereby driving the segment growth.
Regional Insights
Europe accounted for the largest revenue share of over 34.4% in 2022. The presence of well-established small electric appliance manufacturers, such as Braun and Philips, in this region is expected to drive the growth of the market in this region. In addition, increasing awareness regarding the safety and convenience provided by these products is also expected to propel the growth of the market in the region. For instance, in February 2021, Braun launched the MQ535 hand blender, which offers an innovative combination of power and performance, as well as a range of attachments.
Asia Pacific is expected to witness the fastest growth during the forecast period. Increasing disposable incomes in countries such as India and China and growing awareness regarding the efficient use of energy are expected to drive the market in the region. In addition, rising investments in the hospitality industry are expected to increase the demand for hand blenders in this region. For instance, in December 2021, Inalsa launched the Inalsa Hand Blender Basic 400-Watt in India.
Financial Projections
In this part of the hand blender products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your hand blender products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a hand blender products business comes from the sale of hand blenders and associated accessories and parts. Here you will find a list with a description of each of them and other possible sources of profit such as bulk orders, discounts, and other sales initiatives.
Projecting Expenses
In this section, all the regular expenses related to keeping the hand blender products business running will be described. The list of operating expenses includes salaries, rent, marketing and advertising, utilities, insurance policies, maintenance and repairs, and others.
Key companies & market share insights
Some of the key companies operating in the hand blender market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Philips launched the Philips HR1463/10 hand blender, which is equipped with a powerful 800-watt motor and a robust stainless steel blade.
– In August 2022, Braun launched the MultiQuick 5 hand blender, which comes with a unique SpeedMotion technology that adjusts the speed automatically in response to the texture of the ingredients.
– In October 2022, Cuisinart launched the Smart Stick 2-Speed Hand Blender, which is equipped with a 300-watt motor and a stainless steel blade.
Some of the prominent players in the hand blender market include:
– Philips
– Braun
– Cuisinart
– Hamilton Beach
– KitchenAid
– Oster
– Black & Decker
– Morphy Richards
– Breville
– Sunbeam
Global Hand Blender Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hand blender products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Hand Blenders
– Hand Mixers
– Immersion Blenders
– Hand Choppers
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Regular
– Cordless
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Hand Blender Market?
[A]: Product innovation is an important factor driving the growth of the hand blender market. Companies are introducing advanced and innovative hand blenders with advanced features such as adjustable speed settings and different functionalities allowing for blending and pureeing. Manufacturers are also introducing ergonomically designed hand blenders for easy handling and convenience.
[Q]: Who are the Key Players in the Hand Blender Market?
[A]: The key players in the hand blender market include Conair Corporation, Philips, Hamilton Beach Brands, Inc., BRAUN GmbH, Kenwood Limited, Mellerware Appliances, and Oster.
[Q]: Which Region Offers the Largest Opportunity for Sales of Hand Blenders?
[A]: The Asia Pacific region is expected to offer the largest opportunity for sales of hand blenders. The region is home to a large population of health-conscious consumers who are willing to invest in kitchen appliances that offer convenience and efficiency.
[Q]: What are the factors driving the hand blender market?
[A]: Factors such as the growth in the hospitality sector, increasing demand for convenience products, and the increasing popularity of cooking shows are driving the growth of the hand blender market. Additionally, product innovation and the growing health consciousness among consumers is expected to contribute to the growth of the hand blender market in the coming years.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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