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The hand blender market size is estimated to grow by USD 116.89 million at a CAGR of 7.76% between 2022 and 2027. The market's growth is influenced by several factors, including the rise in online retail sales, the increasing demand for multifunctional kitchen gadgets, and frequent introductions of new products. These elements collectively contribute to the market's expansion, driven by evolving consumer preferences and shopping behaviors. The surge in online retail channels has made hand blenders more accessible to a broader audience, facilitating market growth. Moreover, consumers' growing interest in multifunctional kitchen appliances that offer convenience and versatility has further propelled market demand. With manufacturers regularly innovating and introducing new hand blender models, the market remains dynamic, offering consumers a wide range of options to suit their needs.
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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This 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).
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. 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.
The market is driven by several factors, including the rise of nuclear families and the increasing number of working women with preoccupied schedules. These trends have led to a growing demand for healthy drinks and convenience in the kitchen. The hospitality sector, particularly catering contracts, also contributes to the market's growth. Small kitchen appliances like hand blenders, deep fryers, and egg cookers are becoming increasingly popular due to their multifunction nature and ability to cater to space management needs. Major kitchen appliance manufacturers are focusing on portable cooking appliances to meet the needs of households with fast-paced lifestyles, especially among the working class population. 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 companies 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 energy-efficient kitchen appliances. 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 Market Customer Landscape
Companies 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 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 companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is influenced by several factors, including the rising population and the demand for cook comfort and convenience in home cooking. With the rise of luxury lifestyles and the increasing popularity of leisure tourism, there is a growing demand for portable kitchen appliances like hand blenders. The market is also driven by the growth of E-commerce and the increasing availability of advanced kitchen appliances for middle-income age groups. Hand blenders, also known as immersion blenders, are favored for their mixing, pureeing, and emulsifying capabilities, making them ideal for use in restaurants, hotels, and bakeries.
The market is thriving due to the increasing trend of E commerce, making Immersion Blender, chopper, blending wand, and cordless hand mixer easily accessible to consumers. These electrically powered kitchen tools cater to a fast-moving lifestyle and the growing demand for home-cooked food among middle-income age groups. With a focus on Space saving designs, hand blenders offer multi-purpose functionality with various speed settings. They feature technological advancements like high-speed internet and smartphone compatibility, enhancing their luxury lifestyle appeal. The market is driven by customer penetration and the convenience of direct home supply for cordless products.
Furthermore, the market is driven by various factors such as infrastructure development, which facilitates the growth of the market in tourist destinations. The market is also influenced by the rise of E-commerce, which provides a platform for consumers to purchase hand blenders. With a fragmented market and a wide range of products like immersion blenders, choppers, and blending wands, consumers have a variety of options to choose from. These appliances are equipped with features such as a Power Motor, cordless operation, and low voltage permanent motor drivers, making them convenient for a fast-moving lifestyle. They cater to the needs of home-cooked food enthusiasts, especially middle-income age groups and the female working population, offering space-saving solutions for small kitchens and commercial purposes in small food joints. Hand blenders come with various attachments for multi-purpose food preparation and offer variable speed settings for work efficiency. With the advancement of technology, hand blenders now feature high-speed internet and smartphone compatibility, aligning with the trend of modular kitchen appliances and offering variable speed control for enhanced user experience.
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 companies, Market Positioning of companies, 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 Forecasting, 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 market 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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