The Hand Blender Market is Predict to reach USD 6.1 billion by 2031, at a CAGR of 11.2%

08-Nov-2024 | Report Format: Electronic (PDF)

Hand Blender Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Hand Blender Market size is expected to reach $6.1 billion by 2031, rising at a market growth of 11.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 87,685.17 thousand units, experiencing a growth of 12.7% (2020-2023).

The Cordless segment is anticipating a CAGR of 12.1% during (2024 - 2031). Cordless hand blenders offer the convenience of portability and ease of use, as power cords do not restrict them. This segment has seen growing popularity among users who value flexibility and the ability to use the blender in various locations without needing a nearby power outlet. The advancement in battery technology, resulting in longer-lasting and faster-charging batteries, has further driven the adoption of cordless hand blenders, contributing to their substantial revenue share.

North America Hand Blender Market Size - By Region

The Residential segment is leading the Global Hand Blender Market by Application in 2023; thereby, achieving a market value of $3.8 billion by 2031. This significant market share can be attributed to households' increasing adoption of hand blenders for everyday cooking. The growing trend of home cooking, driven by a desire for healthier meals and the convenience of preparing food at home, has bolstered the demand for hand blenders. Additionally, a wide range of affordable and user-friendly hand blender models has made these appliances accessible to a broader consumer base, further boosting the residential segment’s market share.

The Online segment is registering a CAGR of 13% during (2024 - 2031). The growth of this segment can be attributed to the increasing popularity of e-commerce platforms, which offer a convenient shopping experience with a wide variety of products available at competitive prices. Online shopping also allows customers to read reviews, compare prices, and benefit from promotional offers and discounts, making it an attractive option. The ease of home delivery and the growing consumer confidence in online transactions have further propelled the significant revenue share of the online segment in the hand blender market.

Full Report: https://www.kbvresearch.com/hand-blender-market/

The North America region dominated the Global Hand Blender Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.3 billion by 2031. The Europe region is experiencing a CAGR of 11% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 11.9% during (2024 - 2031).