The weak economic outlook with rising inflation and rising interest rates is likely to have a negative impact on household disposable income levels. This in turn is likely to limit demand for food preparation appliances, which are often way down the list of priorities when it comes to household expenditure.
While economic pressures will likely be the main obstacle to growth for food preparation appliances over the forecast period, sales will likely also suffer as consumer spending will shift towards the foodservice industry, travel, and other activities that were prohibited during the pandemic. This will leave less money for food preparation appliances.
As consumer priorities change in response to the economic downturn it is likely that household spending behaviour when it comes to selecting food preparation appliances will also change. It is likely that consumers will favour perceived value-for-money options, and specifically food preparation appliances that offer multifunctionality, thus reducing the need for several different appliances.
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Food Preparation Appliances
Food preparation appliances includes food processors, blenders, mixers, juice extractors, citrus pressers, other food preparation appliances (eg pasta makers, electric mincers, smoothie makers, grinders and electric whisks)See All of Our Definitions
This report originates from Passport, our Food Preparation Appliances research and analysis database.
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