The global household slicer market size is estimated to touch USD 475.2 million by 2027, as per a new report published by Million Insights. The market is projected to register 5.5% CAGR over the forecast duration. In the recent past, cooking popularity as a habit among millennials has surged. Factors such as easy availability of various recipes online coupled with the growing preferences for a healthy lifestyle are driving the market growth.
COVID-19 has changed the consumer preferences for dining out. Self-cooking has become a new trend in urban areas. Household slicer offers convenient while chopping of vegetables and fruits. In the recent past, the demand for efficient cooking appliances has surged, which in turn, has positively affected the market growth. An increasing number of people are posting a picture of self-cooked food on social media. This trend is further estimated to increase over time.
Growing penetration of modular kitchens has led to rise in kitchen remodeling, as a result, driving the demand for efficient kitchen tool including household slicer. In addition, treating people at their homes and organizing birthday parties have become a new trend, where efficient kitchen product such as household slicer is estimated to be useful.
Offline store accounted for the highest share in the household slicermarket in 2019, owing to the increasing preferences among consumers to check the product before making a purchasing decision. In addition, these stores ensure instant buying and return offer. The online channel, on the other hand, is estimated to register the highest growth over the forecast duration owing to increasing product visibility and rise in multi-channel retailing.
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Further key findings from the report suggest:
• Depending on the product, manual slicer accounted for the highest share in the market with over 73.0% in 2019.
• Asia Pacific is estimated to witness the highest growth of 6.2% CAGR over the forecast duration.
• In 2019, the offline distribution channel accounted for the maximum share with over 85.0% in the market.
Million Insights has segmented the global household slicer market on the basis of product, distribution channel and region:
Household Slicer Product Outlook (Revenue, USD Million, 2016 - 2027)
Household Slicer Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
Household Slicer Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central & South America
• Middle East & Africa