Over the past few years, major players have been adopting marketing strategies including innovative product launch, increased R&D, and mergers and acquisitions in order to cater to the increasing demand for technologically advanced products in the region.įor instance, in October 2017, Smeg S.p.a., an Italy based company pioneered in home appliances manufacturing, launched its brand new portable kitchen appliance under the brand name ‘HBF02 hand blender’. The device is powered by 350 watts, coupled with multiple speed setting.Īsia Pacific is expected to be the fastest growing market, expanding at a CAGR of 9.0% from 2019 to 2025. These innovative product launches increase the product visibility. The company launched these products in ‘International Home + Housewares Show’ held in March 2018 in Chicago, Illinois. are launching new technological products in order to gain the maximum customer base.įor instance, in March 2018, Braun GmbH launched its one of the most successful hand blenders under the brand name ‘Braun MultiQuick 5 Baby’. Panasonic Corporation Braun GmbH Breville USA, Inc. Major manufacturers include BSH Home Appliances Group Koninklijke Philips N.V. In addition, rising importance of multifunctional kitchen devices among the consumers, who are looking for convenient solutions, is expected to have a positive impact on the market growth.Ĭorded product was the largest segment, accounting for a share of more than 75.0% in 2018.
Increasing urbanization, coupled with shifting consumer preference towards compact and portable kitchen appliances, is expected to augment market demand. The global hand blender market size is expected to reach USD 398.3 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% over the forecast period.
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