Blenders Market: Overview
Rapid investments on domestic convenience products by households in emerging economies is predicted to boost sales in blenders market over the 2020 – 2030 forecast period. Among a number of convenience appliances in the kitchen, blender is one. Blender finds use for an array of functions in the kitchen, including juicing, pureeing, and grinding.
Surge in number of women in the workforce leading to increasing buy of domestic convenience products is indirectly fuelling the blenders market. Economic growth in emerging economies resulting in vast rise in job opportunities has been a key factor behind women in the workforce. Individuals and households tend to invest on kitchen appliances for convenience and efficiency due to lack of time. This propels the blenders market.
The report looks into all vital aspects that are significant for a near-conclusive analysis of the blenders market over the 2020 – 2030 forecast period. This includes demand dynamics, growth trends, and opportunities in the blenders market over the aforementioned forecast period. Further, an analysis of regional landscape of the blenders market, taking into consideration economic and social changes is covered in this report.
Blenders Market: Competitive Landscape
The blenders market marks a high degree of fragmentation with the presence of a large of regional and international players. Large international players are striving to expand sales via marketing programs and expansion of distribution channels.
On the other hand, low cost products manufactured by regional players that are at par with branded ones in terms of functionality gives stiff competition to large players to penetrate in regional markets. However, technology, product finish and look are some plus of branded products that gives them an edge over low cost locally manufactured products.
Key players operating in the blenders market include PHILIPS, Joyoung, SUPOR, Midea, Panasonic, BRAUN, Deer, and ACA.
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Blenders Market: Key Trends
Technological advances resulting in development of all-purpose blenders is a key factor bolstering the blenders market. Small size of kitchens in apartments of urban areas has led to the development of compact all-purpose blenders. These blenders are useful for a number of functions, including slicing, grinding, pureeing, juicing, and mixing, thus saves from several individual machines for various cooking needs. The use of all-purpose blenders prevents clutter in the kitchen and optimizes the space requirement.
Rising culinary interest among individuals, especially in urban areas to try various cuisines is a key factor behind increasing buy of kitchen appliances. Electric mixers, blenders, slicers, and juicers are some kitchen appliances that are commonly found in kitchens of culinary enthusiasts. Blender is an essential appliance in the kitchens of culinary enthusiasts for a number of functions, including pureeing and grinding.
Expansion of sales channels, along with booming e-commerce has served to expand the growth horizon of the blenders market. Online purchase allows consumers to view and compare nearly all possible products, branded and local, and make a selection that serves their purpose. Besides online sales, emergence of department stores, novelty stores in developing countries that have
Blenders Market: Regional Assessment
Developing countries of Asia Pacific are predicted to garner handsome revenue in the blenders market over the forecast period. Rising disposable incomes and increasing spending on domestic convenience appliances are key factors behind spurt in sales of blenders in these countries. This fosters the blenders market in Asia Pacific.
North America and Europe are established regions in the global blenders market. Long availability of domestic appliances for convenience and efficiency, and high spending power are key factors behind expansive growth of the blenders market in these regions.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.