residential food processors Market

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.

Residential food processors are versatile appliances that perform various food preparation tasks, including chopping, slicing, shredding, grinding, and pureeing. They can also make citrus and vegetable juice, beat cake batter, knead bread dough, beat egg whites, and rub meats and vegetables.

Based on size, the market for residential food processors is classified into small, medium, and large based on their sizes. The medium-sized segment was the dominant segment in 2020. Medium-sized food processors offer the same features as their larger counterparts but with the added advantage of taking up minimal kitchen space. Furthermore, the growing availability of designs in medium-sized food processors is fueling the demand for such appliances.

The market for residential food processors is divided into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and the Middle East and Africa (MEA) based on geography. In 2020, Asia-Pacific emerged as the dominant market. The demand for modernized kitchen appliances has been driven by changing consumer lifestyles and increasing regional urbanization. Moreover, the Asia-Pacific residential food processors market is propelled by a growing working population and major manufacturing companies in the area.

The COVID-19 pandemic caused various industries, including the consumer goods industry, to face significant challenges. The residential food processors market was negatively affected due to factors such as raw material and labor shortages, factory shutdowns, and operational difficulties under COVID-19 safety protocols. As a result, the growth of the market was limited. However, with the introduction of the COVID-19 vaccine, the situation has improved, leading to increased business activities worldwide. As economies revive their operations, there is expected to be a global rise in demand for residential food processors in the coming years. Key manufacturers have resumed their processes and increased production capacity for residential food processors.

Koninklijke Philips N.V., Whirlpool Corporation, Breville Group Limited, De'Longhi Appliances S.r.l., Conair Corporation, Robert Bosch GmbH, MAGIMIX, SharkNinja Operating LLC, Groupe SEB, and Spectrum Brands Inc are among the leading players in the residential food processors market. These companies are adopting strategies, such as mergers & acquisitions, and product launches, to expand their geographic presence and consumer bases.

Primary and secondary research methods have determined the global market size for residential food processors. The research process began with extensive secondary research, which involved gathering qualitative and quantitative information from internal and external sources. Multiple primary interviews were conducted with industry participants, including VPs, business development managers, market intelligence managers, and national sales managers, to validate the data and gain deeper analytical insights into the topic. External consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the global residential food processors market, were also consulted during this process.