Domestic Food Preparation Appliances Market to register a healthy CAGR for the forecast period, 2015-2025
Domestic Food Preparation Appliances Market Segmentation
On the basis of application domestic food preparation appliances market can be segmented as blenders, food processors, juice extractors, grinders and choppers, citrus pressers, mixers and other food preparation appliances. Among all these segments juice extractor is expected to account for the major share in terms of the revenue contribution to the overall market. Increasing consumer concerns for healthy lifestyle is supporting the growth of juice extractor segment worldwide during the forecast period. Moreover, grinders and blenders are also expected to show a substantial growth during the forecast period.
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On the basis of distribution channel, the domestic food preparation appliances market segmentation includes supermarket/hypermarket, electronic retail outlets, franchise outlet (company’s brand retail outlets) and e-retailing. Among all these segments supermarket/hypermarket is expected to account for the major market share followed by sell out through internet. Growing retail industry across the globe is expected to support the sellout of domestic food preparation appliances through supermarket/hypermarket in the near future. Sell out through internet is also expected to account for major contributor in terms of revenue generation. This is due to the consumer preferences for convenience and availability of the products at lower price.
On the basis of geography, North America contributes to largest market share in domestic food preparation appliances market followed by Europe. In North America, United States is the major contributor in domestic food preparation appliances market followed by Canada. Increased sale of blenders, mixtures and juice extractors due to increased consumption of vegetable and fruit juices among the residing people is expected to support the growth of domestic food preparation appliances market in the region. In Europe, countries such as Germany and United Kingdom collectively account for the largest market share. Increasing home cooking trend and influence of the consumers from various television cookery show is expected to support the demand of domestic food preparation appliances market in European region. Whereas, Asia pacific is expected to register a double digit CAGR for domestic food preparation appliances market by 2020. In Asia pacific region China is expected to be the most dominant market for domestic food preparation appliances followed by Japan. The rising popularity of cooking classes in Japan is expected to drive the growth of domestic food preparation appliances market in the country.
Domestic Food Preparation Appliances Market Drivers
Rising urge of the consumers for better and convenient lifestyle is driving the growth of domestic food preparation appliances market across the globe. Moreover continuous innovation and product launches coupled with consumer inclination for having modular kitchen products is attracting the consumer, which is fueling the demand of domestic food preparation appliances during the forecast period. In addition, influence of consumers from various television cookery shows is supporting the demand of domestic food preparation appliances worldwide.
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Domestic Food Preparation Appliances Market: Key Players
Few international players operating in domestic food preparation appliances market include Bajaj Electricals Ltd., Koninklijke Philips N.V., Groupe SEB, Sunbeam Mexicana S.A. de CV, Kenwood Ltd., Joyoung Co Ltd., De’Longhi UK Ltd., Joyoung Co Ltd, Whirlpool Corp. and Breville Group Ltd. among others.
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