Bizizz Market Research has recently published a research report, “Hand Blender Market By Type (Cordless and Corded), distribution channel (online and offline), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Hand Blender Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 405.7 Bn by 2027, witnessing a CAGR of 6.5 % during the forecast period. Key drivers of the market are rising adoption of consumer electronics in kitchen coupled with increased buying power of highly dense populated countries.
The global market of hand blender could be attributed to increasing working population choosing these appliance that automates the kitchen activities and decreases their time spend. Moreover, increasing consciousness on healthy lifestyles of consumers prefer for home-cooked food that is anticipated to plunge the demand of hand blenders worldwide. The hand blenders are compact and portable that offers multi-functional and occupies lesser space. Increasing number of food trucks and small food joints are projected to influence the growth of global market.
The Hand Blender market is anticipated to register a CAGR of over 6.5% during the forecast period.
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By Product, corded segment held a key share in Global Hand Blender Market in 2018.
The corded blender led the market of hand blender products in 2018. The corded blender offers improved work efficiency easy and convenient to apply facilities that substantiates in considerable demand of these products. Moreover, these offerings consume higher energy which may restrict its market growth at a minimal extent.
By distribution channel, online segment held a key share in Global Hand Blender Market in 2018.
Global market of online segment is anticipated to exhibit lucrative growth during the forecast period. The online channels offer flexible shopping and user-friendly environment that is plunging its market demand. Moreover, google ads and promotional activities are playing vital role in impacting consumer products in online platforms constituting of Flipkart, Rakuten, Walmart, and Amazon. However, the manufacturers are introducing online platforms and tie-ups from e-commerce websites for increasing customer base. The increasing smartphone penetration rate and internet facilities are stimulating its market growth.
North America is Anticipated to Dominate the Global Hand Blender Market during the Forecast Period
The global hand blender market is dominant in North America. The region is anticipated to lead the global hand blender market during the forecast period. Increased popularity of modular kitchens especially in Canada and the U.S. is fuelling growth of this region. Consumers are shifting their preferences towards technologically advanced and portable kitchenware and cookware products for enhancing easy kitchen tasks. It is anticipated to significantly plunge the demand of hand blender in North American region.
Global Hand Blender market was moderately consolidated with key players accounting for significant share in 2018. The companies are offering innovative hand blenders that is creating competency in the global market.
Prominent players operating in the Global Hand Blender Market are: Panasonic, Breville, Russell Hobbs, Philips, JVC Kenwood, Vitamx, Whirlpool, ESGE, K-Tec, Electrolux, and Cusinart, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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