Household Slicer Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global household slicer market size was worth USD 308.6 million in 2019. The market is projected to register 5.5% CAGR over the forecast duration, 2020 to 2027. Increasing convenience associated with food slicers and a rise in the number of food bloggers is attributing to the growth of the market. Household slicer popularity is further attributed to their ability to reduce the time consumed in the preparation of various foods. Increasing preferences for efficient kitchen tools are driving the demand for the household slicer. In addition, the increasing trend of foreign cuisine along with rising preferences for finger foods is supplementing the product growth.

Increasing middle-income group customers and rising living standards of customers are driving the product demand across the globe. Young consumers are more inclined towards such products. Western consumers are increasingly using this product while hosting dinner parties and celebrating birthday parties.

In the initial phase of COVID-19, panic buying led to an increase in sales of cooking appliances. Owing to the closure of restaurants, a large number of people started cooking at their homes, which in turn, positively affected the household slicer market growth. In addition, the household slicer is gaining popularity among millennials owing to the convenience of slicing vegetables and other food items.

Product Insights

Based on the product, the manual slicer accounted for the highest share in the market of over 73.0% in 2019. The availability of different kinds of products is a key factor driving the segment growth. Manual slicer provides better control, high accuracy along with clean slicing of a variety of food products. Increasing interest in cooking shows has led to a rise in demand for household slicers for home cooking. For example, various TV shows such as Top Chef Masters, Chopped, Hell’s Kitchen, and MasterChef attract a huge number of consumers, especially millennials.

On the other hand, the automatic slicer segment is projected to witness a 6.4% CAGR over the forecast duration. Factors such as rising disposable income and the rapidly increasing tourism industry are further proliferating the demand for automatic slicers. Europe witnessed nearly 270 new hotels and resorts in 2019 with over 38,000 new rooms. Thus, rapid growth in the hospitality sector is estimated to augment the demand for the product over the next few years.

Distribution Channel Insights

In 2019, the offline segment accounted for the maximum share in the household slicer market with over 85.0%. Purchase through the retail store is gaining traction as they provide a first-hand viewing experience before buying the product. In addition, the easy availability of a wide range of products and instant purchasing options is driving the segment growth. Offline stores are present in different parts of the world and are popular among consumers for their quality.

On the other hand, the online distribution channel is likely to register the fastest growth over the forecast duration with a 6.8% CAGR. Rising multi-channel retailing and growing internet penetration among consumers are attributing to the growth of this segment. In addition, e-commerce giants such as Amazon, eBay, and Alibaba have further strengthened sales through e-commerce channels. Considering the growing sales through online platforms, market players are focusing on consolidating their online presence through partnerships.

Regional Insights

In 2019, North America accounted for the highest share in the household slicer market with over 33.0%. Increasing demand for comfortable, sleek, and stylish slicers is driving the product demand in this region. Steel-made slicers are gaining traction among users owing to benefits such as high durability and easy handling. Further, this trend is estimated to drive the development of new products and innovation in the market.

On the other hand, Asia Pacific is likely to register over 6.0% CAGR over the forecast duration. Countries such as India, China, South Korea and Japan are the key markets in the region. Increasing penetration of utility slicers in the region has led to rising in demand for medium and low-priced products in the region. Further, the rise in purchasing power in the emerging countries is attributed to better living standards, which in turn, has driven product demand.

Impact of COVID-19

The outbreak of the COVID-19 virus has negatively affected the market. In the early stage of the pandemic, panic buying has led to rising in sales of kitchen products including household slicer. However, over the period, the lockdown has resulted in low production and demand for the household slicer. Further, disruption in the supply chain has significantly affected the distribution of the product, which in turn, adversely affected the market growth. Nonetheless, with the resumption of various economic activities, household slicer production has increased. Manufacturers should focus on the production of low and medium-priced slicers to consolidate their market position.

Household Slicer Market Share Insights

There is tough competition among market players, especially from leading players as they have a huge customer base. Companies are focusing on implementing different strategic initiatives such as merger & acquisition, partnerships, geographical expansion, and introduction of the new product to consolidate their market position. The production of sustainable slicers for household applications is also gaining traction among industry players. Major market players are Foodmate, Sirman, Hallde, Devile Technologies, Swedinghaus and Wente-Thiedig GmbH among others.

Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global household slicer market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Manual
    • Automatic

• Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • Germany
        • The U.K.
    • The Asia Pacific
        • China
        • Japan
    • Central & South America
    • Middle East & Africa