Global Multi-Functional Cooking Food Processors Market Driving and Restraining Factors, New Opportunities, Market Size and Growth Forecast for Next 10 Years
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Global Multi-Functional Cooking Food Processors Market is expected to value at US$ XX Mn in 2019 and register CAGR of XX% over the forecast period. The global multi-functional cooking food processors market report has been segmented on the basis of type, application, and region.
Multi-Functional Cooking Food Processors: Product Overview
A food processor is a multifunctional kitchen appliance that is designed to simplify repetitive kitchen tasks for process of food preparation. Multi-Functional food processor has ability to perform various operations such as slicing, chopping, shredding, pureeing, and juicing, among other tasks.
Market Dynamics: Drivers and Restraints
Lifestyle in developed and developing countries has been changing rapidly in the recent past, and hectic work schedules, long working hours and round-the-clock working hours, coupled with need to consume healthy diet to avoid lifestyle-related diseases have resulted in increasing demand for time-saving multi-functional cooking food processor to reduce food preparation time. This is a major factor expected to drive growth of the target market to a significant extent.
Growing demand for food processors for commercial applications such as in fast food joints, restaurants, hotels, etc and in potential end-use industries such as food & beverages to make food preparation process faster is another major factor expected to support growth of the global multi-functional cooking food processors market. Rising disposable income of individuals, especially in developing countries, and rising inclination towards technologically advanced electronics is also expected to support revenue growth of the global market.
However, robust competition among major players and increasing number of new entrants could result in low-profit margins for market players and hamper revenue growth of the target market. In addition, availability of non-branded food processors by local players at reasonable costs and availability of used food processors are factors that could challenge growth of the market to some extent.
Opportunities and Trends
Increasing focus of manufacturers for research & development and development of innovative products using high-tech technology and materials that can help in saving both, energy and time, and enable functioning at high speed with efficiency can create lucrative opportunities for players in the global market.
Key trend observed in the market is that the companies are focusing on technological advancements and development of advanced products such as electronic touchpad controls to operate food processor. This trend is expected to gain traction and support growth of the target market in the years to come.
Among the type segments, the 12 cup capacity segment is anticipated to register significant growth rate in the global multi-functional cooking food processors market.
Among the application segments, the commercial segment is projected to contribute highest share in terms of revenue in the global market owing to rising demand for multi-functional cooking food processors for commercial as well as industrial use.
The Market in Asia Pacific is estimated to account major revenue share in the global market and is projected to register highest growth rate in the next 10 years owing to growing demand for technological advanced multi-functional cooking food processors, presence of large number of players, especially in country markets such as China, India, and Japan. Growing economy, rising spending capacity, and rapidly growing number of downstream industries are expected to drive growth of the Asia Pacific multi-functional cooking food processors market.
The North America market is projected to register significant growth rate owing to high disposable income of individuals, early and higher adoption rate of high-tech appliances in countries in the region, increasing investments in research & development for development of food processer products is projected to drive growth of the multi-functional cooking food processors market in the region.
Prominent players are focusing towards development and expansion of high-end product portfolio, efficient after-sales service, and strategic mergers and acquisitions in order to increase brand visibility and expand customer base. In addition, manufacturers operating in this innovation-led industry are also focusing on building strong and vast distribution network in order to meet supply and demand ratio.
Various manufacturers are making their products visible on E-commerce websites as they help in reaching a large number of customers. Moreover, E-commerce shopping is one of the trusted and among most preferred options among customers across the globe.
Global Multi-Functional Cooking Food Processors Market Segmentation:
Segmentation by Type:
- 4 Cup Capacity
- 8 Cup Capacity
- 12 Cup Capacity
- Over 12 Cup Capacity
Segmentation by Application:
- Non- residential
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Conair Corporation
- De'Longhi S.p.A
- Whirlpool Corporation (KitchenAid)
- Hamilton Beach Brands, Inc.
- BSH Home Appliances Corporation
- Breville Group Limited
- MAGIMIX U.K. Ltd.
- Spectrum Brands, Inc.
- Newell Brands Inc.
- Panasonic Corporation
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