Global Blender Market to Offer Revenue Opportunity of $3.58 Billion by 2028 | Handheld Blender to Generate Revenue of $424 Million
Global blender market size was valued at US$ 2.57 billion in 2021, and it is expected to reach a value of US$ 3.58 billion by 2028, at a CAGR of 4.80% over the forecast period (2022–2028).
Westford, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) — Blender market is projected to grow at a CAGR of 4.80% between 2022 and 2028, according to SkyQuest. This growth is attributable to the penetration of blenders into households across geographies and Millennials overtaking Baby Boomers as the largest generation in the United States and across the globe. These key drivers are in addition to increasing interest in plant-based diets, which have driven growth of vegan and vegetarian products.
The North American blender market is the largest with over 30% market share and is forecast to grow at a CAGR of 3.7% during the forecast period. The Asia Pacific market is estimated to grow at the highest CAGR in the years to come. Traditional blenders are used for making beverages, smoothies, ice cream, batters, soups, doughs, etc., with different shapes blades that chop or crush ingredients uniformly without leaving lumps or pieces stuck in the blades. Nutrient-rich foods such as leafy greens and fruits are blended together using various blade attachments that extract all their nutrients.
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The report covers product types, end users, regions, and application segments across the globe. In addition, the report provides detailed competitive landscape analysis including company profiles, product offerings, and key developments. The global blender market has witnessed a significant growth in the past few years owing to multiple factors such as increasing adoption of healthy lifestyle habits, rising demand for functional drinks and enhanced food processing capacities. The growing popularity of Probiotic-based drinks is also contributing significantly to the market growth.
SkyQuest Analysis of Global Blender Market
In terms of shipments, the commercial desktop blender segment will account for the majority of total sales with a market share of more than 60% by the end of 2028. Portable blenders will witness the fastest growth with a CAGR of more than 20%. Industrial blenders, however, are projected to experience relatively slower growth rates with a CAGR of around 4%. Some factors that could affect this market growth include increased awareness of healthy living and convenience appeal of portable blenders for on-the-go meal preparation. With continuous technological advancements in blending technologies, there is an opportunity for manufacturers to design more effective and efficient machines.
Meanwhile, consumers are starting to demand more health-conscious beverage options. To overcome these challenges, blender manufacturers need to improve their innovation and design capabilities. In addition, they will need to work with partners such as food and beverage companies to create larger-scale production lines that can produce lower-cost beverages. Across all of these areas, SkyQuest believes that the blender industry will continue to grow over the next several years as new challenges are addressed and new opportunities are seized.
Handheld Blender Market to Generate Revenue of $424 Million by 2028
The global handheld blender market is expected to grow at a CAGR of 7.7% during the forecast period 2018-2028. This growth is attributed to the increasing trend of healthy living and more people preferring healthy food options. The key players in the market are General Electric, Philips, Bosch, KitchenAid, Samsung, and Waring. These companies are aggressively foray into the market with new products and services to cater to the growing demands of consumers. Additionally, the growth of the e-commerce market is also contributing to the handheld blender market’s growth. Many companies are investing in this niche market because of its high potential for revenue generation. These companies include Blendtec, Vita-Mix, and Ninja Blender. These brands are leading the pack by introducing innovative products that appeal to consumers.
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Amongst these players, GE stands out with its broad product portfolio comprising blenders for various user scenarios including personal care, culinary, convenience stores and manufacturing. The company in the global blender market is also focusing on growing its business in APAC region. In 2021, GE captured a significant share in Japan with its Frother Single serve electric handheld blender and continues to hold a stronghold in Silicon Valley with its popular Bullet blenders.
These companies are aggressively expanding their product lines, making available more models that can handle a wider variety of ingredients. Additionally, these brands are working to enhance their customer base through innovative marketing strategies such as social media marketing and collaborations with celebrity chefs. This increase in popularity is expected to spur growth in the handheld blender market.
The expanding ecosystem of related industries such as kitchen appliances, diet & nutrition, catering, and online retailing is likely to drive the growth of the market. The growing need for hand-held blenders that are versatile and can handle a variety of tasks is expected to fuel the growth.
Top Trends Shaping the Global Blender Market
The global blender market is expanding rapidly as consumers demand more convenience and versatility in their kitchen tools. Blender innovation is pushing the boundaries of what can be done with them, and new models are hitting the market regularly to keep up. Here are some of the most popular trends in the blender industry:
- Convenience is key for modern-day cooks, and blenders help make preparing meals a breeze. They’re perfect for making smoothies, soups, and other blended foods. Many models now have pre-set functions for various tasks, such as mixing dough or crushing ice. Blender technology is advancing rapidly, with new features being added all the time. Some model blenders even come with thermal chambers to heat up ingredients before blending them. This makes creating hot soups and smoothies a breeze.
- Another popular trend in blender market is customizable functions. With so many models on the market, buyers can choose one that has features tailored specifically to their needs. This gives users more control over their cooking and results in better-quality cuisine. As blender technology continues to evolve, so do the ways in which people use them. More people are starting to experiment with making unique blends of fresh ingredients and spices to create dishes that are truly their own.
- Blenders are becoming more affordable and accessible As blender technology advances and becomes more affordable, the appliance is becoming more accessible to consumers. Brands like Vitamix and Blendtec continue to make high-quality blenders that are both affordable and powerful, making it a popular choice for home cooks and professional chefs alike.
- There’s a growing trend for blenders in smoothies and other low-calorie foods Blender advocates argue that using a blender to create healthy smoothies or soups can be a healthier option than using traditional juicers or blenders that add unnecessary cream or sugar. While there’s no one right way to enjoy a smoothie, incorporating a blender into your diet can be a great way to reduce the number of unhealthy calories you consume.
- Blenders are being used more for nutraceuticals and other supplements: A growing number of people in the global blender market are turning to blenders to create healthy nutraceuticals and other supplements at home. With health concerns around obesity and other chronic diseases, many people are looking for ways to improve their health without having to resort to expensive prescription drugs or surgery. Blender techniques like smoothie blending make it easy to create nutrient-dense foods on your own, without relying on processed foods or artificial additives.
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Top Players in Global Blender Market
- Omega (Switzerland)
- Braun (Germany)
- Panasonic (Japan)
- Breville (Australia)
- Midea (China)
- Kuvings (South Korea)
- Philips (Netherlands)
- Deer (India)
- ACA (US)
- Supor (China)
- Joyoung (China)
- Richino (US)
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Global Smart Kitchen Appliances Market
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