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The hand blender market size is estimated to grow at a CAGR of 7.76% between 2022 and 2027. The hand blender market size is forecast to increase by USD 116.89 million. The growth of the hand blender market share depends on several factors, including increasing online retail sales, growing demand for multifunctional kitchen gadgets, and frequent product launches.
This hand blender market report extensively covers market segmentation by type (corded and cordless), distribution channel (offline and online), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing online retail sales are notably driving the market growth, although factors such as fluctuations in raw material prices and operational costs may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing online retail sales are notably driving market growth. Over the past few years, there has been a noticeable increase in the online demand for hand blenders. The visibility of various products and brands sold by market vendors has increased through online channels. Online retail channels have also expanded as a result of the availability of a large product portfolio.
The expansion of customer outreach and cost-savings in inventory management are two factors that contribute to online retailing's success. Additionally, rising consumer awareness, expanding mobile device adoption, and increasing internet connectivity are anticipated to fuel the growth of the global market through the e-commerce platform during the forecast period.
The adoption of energy-efficient kitchen appliances is an emerging trend in the market. Majorly, the energy used in a household is used for the kitchen and home appliances. Governments from different nations are pressuring companies as well as consumers to use smart grids and energy-efficient products. As a result, there is a rising need for kitchen appliances that are energy-efficient. Different energy sectors have established unique device standards that competitors must follow. This will make it possible to create a new range of home appliances and consumer electronics that are energy-efficient. These procedures will also conserve resources and safeguard the environment.
Moreover, the ENERGY STAR program, which aims to assist consumers in lowering their energy costs by utilizing energy-efficient products, is run by the energy department in collaboration with the Environmental Protection Agency (EPA) in the US and other organizations. Products with the ENERGY STAR label offer the same features as standard products but consume less energy, reducing their environmental impact. Hence, such appliances can cut energy consumption and costs by as much as 50% or more, which is expected to boost the growth of the global market during the forecast period.
The fluctuations in raw material prices and operational costs are major challenges impeding market growth. The costs of production, labor, raw materials, transportation, and marketing all have an impact on the market price of hand blenders. Prices for hand blenders and manufacturers' profit margins are directly impacted by changes in the cost of raw materials. It takes a variety of raw materials, including steel, plastic, glass, and electronic equipment, to make a hand blender. All of these raw material prices are subject to change and influenced by market conditions worldwide.
Aside from supplier restrictions and the inability to maintain beneficial contracts with suppliers for the proper and timely delivery of raw materials, the cost of acquiring raw materials also includes additional expenses like transportation and other necessary services. Over the last couple of years, the price volatility of important commodities like plastics, steel, rubber, iron, and rubber has increased at an international level. This raw material price volatility leads to higher prices or lower profit margins for manufacturers, which may impede the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hand Blender Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Hamilton Beach Brands Holding Co. - The company offers different types of products like air fryers, blenders, bread maker, coffee machine, can, and jar opener and is also involved in research and development, product design, marketing, operations, and administrative functions. The key offerings of the company include hand blenders such as multi quick 9 multi blender and multi quick 7 hand blender, under its brand called Braun.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the corded segment will be significant during the forecast period. In 2022, the largest product category in the market for hand blenders was corded. Due to the device's simplicity of use and convenience, these goods are becoming extremely popular.
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The corded segment was valued at USD 165.12 million in 2017 and continued to grow until 2021. High voltages are needed by corded devices, so manufacturers create high-quality label batteries. Since they fall under the high-power category, these are regarded as energy-consuming devices. Additionally, manufacturers offer blenders with a variety of multipurpose attachments and speed settings, enhancing the device's functionality. Moreover, to meet the enormous increase in demand for cutting-edge hand blenders, manufacturers are concentrating on the introduction of new products. Thus, the growing demand for corded hand blenders will positively impact the growth of the market during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America dominated the market with the highest market share in 2022. The market is expanding as a result of the rising demand for modern features and amenities like modular kitchens and smart home technology in the residential and commercial segments for smart kitchen appliances. Additionally, a tech-savvy population, growing smart home adoption, and a high gross national income (GNI) are the main drivers of kitchen appliance demand during the forecast period. The demand for connected and smart kitchen appliances has also increased as smart grid and smart house technology have become more widely used in nations like the US, Canada, and Mexico. Furthermore, due to increasing wireless technology innovation and the adoption of smart homes, customers can also select wireless products. Hence, all these factors will boost the market growth during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted the growth of the market in North America. However, lockdown restrictions were lifted in 2021 as a result of extensive vaccination drives across the region. This has resulted in the resumption of operations in restaurants, canteens, hostels, and other end-user facilities, which has consequently increased the demand for kitchen appliances such as hand blenders in the region. Such factors are expected to prompt the growth of the market in North America during the forecast period.
The hand blender market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global hand blender market as a part of the global household appliances market within the global household durables industry. The parent global household appliances market covers revenue generated by manufacturers of electric household appliances and related products. Household appliances include power and hand tools, including garden improvement tools. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Hand Blender Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.76% |
Market growth 2023-2027 |
USD 116.89 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.32 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB Electrolux, Boss, Conair Corp., DeLonghi Appliances S.r.l., Hamilton Beach Brands Holding Co., iBELL, JVCKENWOOD Corp., Koninklijke Philips NV, Panasonic Holdings Corp., Robert Bosch GmbH, Sabichi Homewares Ltd., Siroca Inc., Smeg Spa, Spectrum Brands Holdings Inc., Treasure Retail Pvt. Ltd., Universal Corp. Ltd., UP Global Sourcing Holdings Plc, Vita Mix Corp., Whirlpool Corp., and Breville Pty Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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