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Mixer Grinders Market 2024 - Global Industry, Key Strategies, Analysis, Business Segmentation, Latest Technology And Outlook By 2033
Mixer Grinders Market
According to The Business Research Company's, The mixer grinders market size has grown steadily in recent years. It will grow from $13.19 billion in 2023 to $13.85 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to increase in the number of residences, a rise in dependency on smart kitchen appliances, the adoption of expensive premium residential mixer grinders.
The mixer grinders market size is expected to see strong growth in the next few years. It will grow to $17.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to the surge in the spending capacity of consumers, increase in number of food joints such as hotels & restaurants , increase in work-from-home and stay-at-home orders. Major trends in the forecast period include noise reduction technology, enhanced safety features, multi-functional designs, smart mixer grinders.
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Market Drivers and Trends:
The increasing population of work from home is expected to propel the mixer grinder market going forward. Work from home refers to performing one's job duties remotely from a personal residence. The work-from-home practice has benefits for work-life balance, potential cost savings, and flexibility. Mixer grinders are highly beneficial appliances for home cooking and food preparation practices. They offer convenience, efficiency, and versatility in various culinary tasks, allowing individuals to focus on their work-from-home responsibilities without spending excessive time in the kitchen. For instance, in April 2023, according to the U.S. Census Bureau, a US-based government administration, between 2019 and 2021, the quantity and proportion of individuals working from home increased significantly, with the number doubling from approximately 9 million workers, or 5.7%, to around 28 million workers, constituting 17.9% of the workforce. Moreover, the proportion of women engaged in home-based work rose slightly from 50.7% in 2019 to 51.3% in 2021. Therefore, the increasing population of work-from-home workers drives the growth of the mixer grinder market.
Major companies operating in the mixer grinder market are developing innovative products such as military-grade jars, to gain a competitive edge with a better product offering. Military-grade jars are crafted to possess unparalleled durability and endure kitchen mishaps and falls while retaining their original condition without dents or damage. For instance, in October 2023, Bajaj, an India-based consumer appliances company, launched Military Series Mixed Grinders. The BAJAJ military series of mixed grinders boasts DuraCut blades, which are renowned for their durability and backed by a lifetime warranty, establishing pioneering benchmarks in the industry. It is available in a range of wattages and vibrant colors. These mixer grinders showcase numerous user-friendly functionalities and a modern design aesthetic.
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Major Key Players of the Market:
Panasonic Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., Havells India Limited, TTK Prestige Limited, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Limited, V-Guard Industries Limited, Orient Electric Limited, Preethi Kitchen Appliances Pvt. Ltd., Eveready Industries India Limited, Maharaja Whiteline, Stovekraft Pvt. Ltd., Singer India Limited, Kenstar Appliances, Usha International Limited, Boss Home Appliances, Maya Appliances Pvt Ltd, Wonderchef Home Appliances Pvt. Ltd., Sujata Appliances Pvt Ltd, Jaipan Industries Limited, Glen Appliances Pvt Ltd, Kanchan Appliances Pvt. Ltd., Rico Appliances Pvt. Ltd., Signora Care
Mixer Grinders Market 2024 Key Insights:
• The mixer grinders market size is expected to see strong growth in the next few years. It will grow to $17.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Work-From-Home Trend Boosts Mixer Grinder Market Growth
• Innovations In Military-Grade Jars Redefine Market Competitiveness
• North America was the largest region in the mixer grinders market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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