Domestic demand for food processors and blenders is forecast to grow, but a growing share will be satisfied by imports
New York, NY (PRWEB) January 02, 2015
The Food Processor and Blender Manufacturing industry has been in steady decline over the past five years. Revenue is estimated to have fallen in 2009 as the collapse in consumer confidence and per capita disposable income in the wake of the recession led to a drastic fall in consumer discretionary spending, including on industry products. Domestic demand for blenders and food processors has actually been on the rise since 2009, driven by increasing consumer discretionary spending and growing capital investment by the food service sector. In addition, because blenders and food processors are perceived as facilitating the development of a healthier diet, growing health consciousness among the US population has further expanded demand for blenders and food processors. Nonetheless, industry revenue has continued to decline since 2009, primarily due to the Food Processor and Blender Manufacturing industry's inability to compete with inexpensive imports. Conversely, industry exports are forecast to grow over the five years to 2014, as industry operators have been able to successfully market their products to a wider international consumer base. Nevertheless, this growth in exports has not been significant enough to counteract the industry's declining domestic sales. As a result, industry revenue is forecast to decline over the five years to 2014.
The Food Processor and Blender Manufacturing industry is anticipated to continue to decline over the five years to 2019. Domestic demand for food processors and blenders is forecast to continue to grow, driven by growth in per capita disposable income and the increasing importance of health to consumers. However, a growing share of this demand is forecast to be satisfied by inexpensive imports, as industry operators become increasingly incapable of competing with low-cost foreign manufacturers, predominantly located in China. Industry performance is in fact expected to worsen over the five years to 2019, as an expected appreciation of the US dollar and an anticipated slowdown in emerging market growth reduces demand abroad for food processors and blenders produced in the United States. As a result, industry revenue is forecast to decline over the five years to 2019.
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IBISWorld industry Report Key Topics
The Food Processor and Blender Manufacturing industry manufactures electric- and motor-driven appliances used in food preparation. More specifically, companies in the industry manufacture blenders, food processors, stand mixers and a variety of other small appliances (e.g. ice crushers) used in slicing, chopping, grinding, shredding, pureeing, crushing and mixing food items.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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