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 food processor is an electric kitchen appliance designed to facilitate food preparation tasks by automating activities such as chopping, shredding, mixing, and blending.
The market for residential food processors is divided into various distribution channels, including supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the specialty stores segment dominated the market share. This can be attributed to specialty stores offering customers a personalized shopping experience with a pleasant retail atmosphere. They also provide value-added products and prioritize customer satisfaction. Additionally, the staff at specialty stores are usually well-trained and can guide customers in their purchase decisions.
The global market for residential food processors is categorized into five primary regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). Among these, the APAC region demonstrated the highest growth rate in 2020. The growth of the residential food processors market in APAC can be attributed to several factors, including a growing working population, increasing urbanization, rising disposable income, and a surging demand for advanced kitchen appliances. Furthermore, the presence of prominent manufacturers like Koninklijke Philips N.V. and Robert Bosch GmbH in the APAC region contributes to the growth of this market.
Impact of COVID-19 Pandemic on Residential Food Processors Market
The residential food processors market initially suffered setbacks from the COVID-19 pandemic, with manufacturing facilities shutting down and transportation and logistics facing restrictions. The closure of supermarkets, hypermarkets, and retail outlets negatively affected the supply of residential food processors. However, with governments easing restrictions and the introduction of COVID-19 vaccines, businesses are gradually recovering. As a result, global business activities are on the rise, leading to an increased demand for residential food processors. The reopening of retail stores is also driving the market growth for residential food processors.
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 size, the market is categorized into small, medium, and large. On the basis of 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.
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