Residential Food Processors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Size (Small, Medium, and Large), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography
Publication Month: Feb 2022 |
Report Code: TIPRE00027013
| No. of Pages: 169
| Category: Consumer Goods
| Status: Published
The residential food processors market was valued at US$ 3,475.21 million in 2021 and is projected to reach US$ 5,553.20 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.
A residential food processor is basically a kitchen appliance used for easing out repetitive tasks during food preparation. The processors nowadays are mostly automated and provide ease while preparing food.
In 2020, Asia Pacific dominated the global residential food processors market and is expected to retain its dominance during the forecast period. The increase in the working population across the region has led to increasing demand for convenient household and kitchen appliances. These factors are expected to propel the demand for residential food processors across the region. In addition, the change in consumers’ lifestyles has led to increased adoption of modernized household and kitchen appliances. The rising population in countries such as China and India has led to increased construction of residential houses and complexes having limited kitchen space. Thus, this lead to an increased demand for small kitchen appliances, such as mini food processors.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Residential Food Processors Market Forecast, by Region, 2021–2028
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Increasing Demand for Convenient Products
Consumer lifestyle has become hectic in recent years due to increased work pressure, making them feel exhausted after their regular working hours. Working professionals increasingly prefer convenient, automated, and smart household and kitchen appliances that can save their time and effort. The residential food processors are multifunctional and fast. These food processors work effectively and significantly to ease the cooking process even if a user is cooking for a large number of people.
Based on the size, the residential food processors market is segmented into small, medium, and large. In 2020, the medium segment dominated the market. The increased constraint of kitchen size and space in developing countries is one of the factors driving the demand for medium-size residential food processors. The medium residential food processor includes a medium slicing disc, a shredding disc, and a stainless steel chopping blade for processing.
Residential Food Processors Market Share, by Size – 2020 and 2028
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Koninklijke Philips N.V., Whirlpool Corporation, Breville Group Limited, De’Longhi Appliances S.r.l., Conair Corporation, Robert Bosch GmbH, MAGIMIX, SharkNinja Operating LLC, Groupe SEB, and Spectrum Brands Inc. are among the key players operating in the residential food processors market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.
Progressive trends in the residential food processors industry to help players develop effective long-term strategies
Business growth strategies adopted by companies to secure growth in developed and developing markets
Quantitative analysis of the global residential food processors market from 2019 to 2028
Estimation of the demand for residential food processors across various industries
PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for the residential food processors
Market trends and outlook coupled with factors driving and restraining the growth of the residential food processors market
Understanding regarding the strategies that underpin commercial interest with regard to the global residential food processors market growth, aiding in the decision-making process
Residential food processors market size at various nodes of market
Detailed overview and segmentation of the global residential food processors market as well as its industry dynamics
Residential food processors market size in various regions with promising growth opportunities
The "Global Residential Food Processors Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global residential food processors market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The residential food processors market is segmented on the basis of size, distribution channel, and geography. Based on the size, the market is segmented into small, medium, and large. Based on distribution channel, the residential food processors market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
The major players operating in the global residential food processors market are Koninklijke Philips N.V.; Whirlpool Corporation; Breville Group Limited; Deâ€™Longhi Appliances S.r.l.; Conair Corporation; Robert Bosch GmbH; MAGIMIX; SharkNinja Operating LLC; Groupe SEB; and Spectrum Brands Inc.
In 2020, Asia Pacific accounted for the largest share of the global residential food processors market. The countries in the region, such as China, India, and South Korea, are witnessing an upsurge in the middle-class population and growth in urbanization. The changing lifestyle of the consumers and increasing working population are propelling the adoption of modernized household and kitchen appliances.
In 2020, the medium-size segment accounted for the largest market share. Medium-size residential food processors have a capacity of 9 to 12 cups and are great for making four portions of food at a time. It is suitable for chopping, dicing, mincing, and slicing. It is used for shredding hard cheeses, carrots, sprouts, and potatoes and pureeing soups, sauces, desserts, and dips. These food processors are also available with the multi-purpose dough blade and reversible slicing or shredding disc for preparing a variety of shapes and sizes ideal for recipes.
On the basis of distribution channels, online retail is the fastest-growing segment. Ecommerce platforms offer many products of various categories to customers across the world. Consumers can buy any product online from their homes or offices. Online retail is the fastest-growing distribution channel for the residential food processors market owing to many factors, such as ease of accessibility, availability of a wide range of products, cashback, discount coupons, and attractive deals. Aided by the disruption of physical stores due to the Covid-19 pandemic and lockdowns, the market for the online retail segment is expected to grow rapidly in the next few years.
In 2020, specialty stores held the largest market share in the global residential food processors market. Specialty stores focus on the specific product category and have wide product varieties. The stores provide a personalized shopping experience and a positive retail environment to the customers. They offer value-added products to their customers and focus on customer satisfaction. Moreover, specialty stores usually have trained staff who can assist the customers in making the purchase decisions. For the residential food processors market, specialty stores are expected to maintain their market prominence amongst other distribution channels due to the availability of specific products under one roof, pleasant atmosphere of store, and the presence of skilled staff that can help the customer choose the right product.
Asia Pacific is expected to be the fastest growing region within the global residential food processors market. The rising population in countries such as China and India have led to an increase in the construction of residential houses and complexes having limited kitchen space. Thus, there is an increased demand for multifunctional and small kitchen appliances. Thus, mini residential food processor is preferred in such countries in terms of convenience because they are lightweight, multifunctional and require little space. Thus, the rapidly changing lifestyle of consumers, increasing awareness related to eco-friendly products, and the rising trend of automation in day-to-day activities to save time are providing lucrative opportunities for the residential food processors market in Asia-Pacific.
The List of Companies - Residential Food Processors Market
Koninklijke Philips N.V.
Breville Group Limited
De’Longhi Appliances S.r.l.
Robert Bosch GmbH
SharkNinja Operating LLC
Spectrum Brands, Inc
Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global residential food processors market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.