Report : Asia Pacific Residential Food Processors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Size (Small, Medium, and Large) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Specialty Stores segment to dominate the Asia Pacific Residential Food Processors Market during 2020–2028
According to a new market research study on “Asia Pacific Residential Food Processors Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Size and Distribution Channel” is expected to reach US$ 1,903.64 million by 2028 from US$ 1,104.89 million in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific residential food processors market along with the drivers and restraints pertaining to the market growth. Raising product innovation, surging demand for convenient products, and increasing number of home bakers are the major factor driving the growth of the Asia Pacific residential food processors market. However, heavy maintenance cost of food processor hinders the growth of Asia Pacific residential food processors market.
The Asia Pacific residential food processors market is segmented on the basis of size, distribution channel, and country. Based on size, the market is segmented into small, medium, and large. In 2020, the medium segment held a larger share of the market, and small is expected to register a higher CAGR during the forecast period. Based on distribution channel, the Asia Pacific residential food processors market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the specialty stores treatment segment held the largest market share; however, the supermarkets and hypermarkets segment is expected to register the highest CAGR in the market during the forecast period. Further, based on country, the Asia Pacific residential food processors market is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. In 2020, China held the largest market share; and India is expected to grow at the fastest CAGR during the forecast period.
Koninklijke Philips N.V.; Whirlpool Corporation; Breville Group Limited; De’Longhi Appliances S.r.l.; Robert Bosch GmbH; MAGIMIX; Groupe SEB; Spectrum Brands, Inc.; SharkNinja Operating LLC are among the leading companies in the Asia Pacific residential food processors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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