The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2016
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Food preparation appliances is expected to post a volume CAGR of 2-5% over 2015-2020 for all regions. Growth opportunities are mainly driven by health awareness, new product development, increased female employment as well as the influence of cooking shows. Internet retailing will continue to be the fastest growth channel for food preparation appliances over the next five years, as consumers continue to enjoy the convenience of online shopping.
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Over 2015-2020, in terms of absolute volume growth, blenders and mixers will grow the strongest in North America, juice extractors and food processors in Asia Pacific and citrus pressers in Latin America. Cultural culinary preferences result in different food preparation appliance demand across the regions.
Food scandals in 2014 in China fuelled volume growth of juice extractors in the country, with sales rising 28% in 2014 and a further 19% in 2015. In addition, expired products used in China’s KFC in 2013 also had an impact on food processors, spurring growth of 18% in 2014 and 15% in 2015.
Due to the popularity of Thermomix, a thermal food processor that can chop, blend, grind, as well as cook at the same time, posted the highest brand share increase in Western Europe from 6% in 2010 to 10% in 2015. This encouraged a few leading brands to launch similar products, such as Moulinex Cuisine Companion and Braun Multiquick7.
In 2015, 74% of mixers purchased in North America were hand mixers, whereas 94% of blenders purchased were countertop blenders. Unit prices and product features were the key factors driving the high purchases of both items.
It is expected that Latin America will post the highest absolute volume growth in citrus pressers over 2015-2020, driven by lemon and lime juice usage in food and drinks as well as obesity concerns.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.