Market Trends of Electric Vegetable Chopper Industry
Rising Food And Hospitality Business is Driving the Market
Vegan options in hotels and restaurant menus are observing a continuous increase in demand, with people looking for diverse and flavourful vegan offerings aligning with their health and ethical values. With global comparison, the Asia-Pacific region exists with the largest share of the vegetarian (19%) population, leading to a rise in demand for vegetarian dishes being served in the hospitality industry with an expanding market for electric vegetable choppers.
With the advent of COVID-19, due to restrictions imposed, the restaurant and food industry suffered a major setback, impacting the demand for equipment required by the industry as well. Post-COVID-19, with market recovery, the consumption value of restaurants and food hotels in India increased to USD 16.72 billion, creating positive signals for the electric vegetable chopper manufacturer. This trend implies for the global market as well.
Rising Expenditure On Residential Kitchen Appliances is Driving the Market
Revenue from small kitchen appliances is observing an increase globally, rising to a value of USD 121 billion last year, with China and India having the largest demand. As people increased their time spent at home due to COVID-19, the kitchen segment also observed an increase in spending on new appliances used for home cooking during the period, leading to a rise in the demand for electric vegetable choppers, especially through online channels. Share of Online sales of small kitchen appliances rose to 23.9% last year, increasing the sales of electric vegetable choppers through manufacturer websites and e-commerce.
The rising average annual per capita consumption expenditure of households in China and the United States is creating an opportunity for electric vegetable chopper manufacturers to penetrate the residential segment as well.
