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Blenders Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Blenders Global Market Report 2024
According to The Business Research Company's, The blenders market size has grown strongly in recent years. It will grow from $2.97 billion in 2023 to $3.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to the rise in demand for energy-efficient kitchen appliances, patenting of blender designs, the rise of health and wellness trends, the shift towards home cooking, and the influence of celebrity endorsements.
The blenders market size is expected to see strong growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to convenience and time-saving, sustainable, and eco-friendly options, the increasing consumption of smoothies and milkshakes, increasing healthcare awareness, and rising demand for processed foods. Major trends in the forecast period include multi-functional blenders, high-power performance blenders, nutrient extraction blenders, plant-based and functional ingredient blending, and design innovation.
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Market Drivers and Trends:
Increasing adoption of healthy lifestyles is expected to propel the growth of the blenders market going forward. Healthy lifestyles entail adopting habits that prioritize physical activity, balanced nutrition, and mental well-being, aiming for overall health and vitality. There is a growing adoption of healthy lifestyles as people become more conscious of the ingredients in their food and the impact of their choices on their health and the environment. Blenders allow users to blend a variety of fruits, vegetables, nuts, seeds, and other wholesome ingredients into smoothies. They can also quickly and easily puree cooked vegetables and legumes to create healthy soups, sauces, and purees. For instance, in May 2022, according to the online survey of 1,005 Americans ages 18 to 80 conducted by International Food Information Council, a US-based non-profit organization that shares science-based information, it was revealed that 52% of Americans claimed to have adhered to a specific diet or eating regimen within the previous year, marking a notable surge from 39% and 43% in 2021 and 2020 respectively. Therefore, the increasing adoption of healthy lifestyles is driving the growth of the blenders market.
Major companies operating in the blenders market are developing technologically advanced products with innovative accessories, such as interchangeable attachments, that are designed to provide convenience. Interchangeable attachments in blenders refer to additional components or accessories that can be swapped or attached to the main blender unit to enhance its functionality and versatility. For instance, in April 2023, Blendtec, a US-based company that sells commercial and residential blenders, launched all-new Immersion Blender, designed for versatility and convenience in blending, mixing, and pureeing. This blender, equipped with interchangeable attachments including a blending wand, whisk, and chopper, simplifies various blending tasks with its powerful 350-watt motor and 20-speed variable dial. Its soft grip, ergonomic handle, and two power buttons ensure comfort and control, while its stainless-steel driveshaft and blade guarantee durability and performance.
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Major Key Players of the Market:
Panasonic Corporation, Whirlpool Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., Smeg S.p.A., B. Braun Melsungen AG, Groupe SEB, DoorDash Inc., SharkNinja Operating LLC, Cuisinart, Breville Group Limited, Hamilton Beach Brands Holding Company, Vitamix Corporation, Blendtec Inc., Kuvings, Sunbeam Products Inc., Nutribullet LLC, Weston Products LLC, Gourmia Inc., Cleanblend, Bella Housewares, Kenwood Limited, Tribest Corporation, Waring Commercial Inc., Indpro Engineering Systems Pvt. Ltd.
Blenders Market 2024 Key Insights:
• The blenders market size is expected to see strong growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• The Rising Demand For Blenders In Health-Conscious Lifestyles
• Advanced Immersion Blenders For Offering Versatile Kitchen Essentials
• Asia-Pacific was the largest region in the blenders market in 2023
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