In this report, Technavio covers the market outlook and growth prospects of the global commercial beverage blender market for 2016-2020. By end-user, this market is segmented into juice bars, clubs, and pubs, restaurants, catering companies, and hotels.
Juice bars, clubs, pubs, and restaurants held a combined market share of more than 80% in 2015. This is mainly due to the increasing number of outlets offering blended beverages in both alcoholic and non-alcoholic forms. Additionally, restaurant chains like Starbucks and Dunkin’ Donuts have plans of massive expansion in Asian markets, which will further propel the commercial beverage blender market.
Technavio’s research study segments the global commercial beverage blender market into the following regions:
- North America
North America: largest commercial beverage blender market
“This market is driven by the health-conscious individuals who make up a majority of this market space. There is an ever-increasing demand for healthy smoothies, frozen beverages, and desserts in countries such as the US and Canada. Many consumers, especially the millennials, are switching from consumption of aerated and alcoholic beverages toward organic and healthy beverages mainly because of this increasing health consciousness,” says Manu Gupta, one of the lead market research analysts at Technavio.
This high demand for various types of drinking is creating a direct positive impact on the commercial beverage blender market. Additionally, most of the leading players in the commercial beverage blender market are headquartered within the US. This proximity makes it easier for the vendors to release products based on the latest market trends, thus helping them maintain the market lead.
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Europe: market driven by cultural preferences of customer segment
The commercial beverage blender market in Europe will be driven by the cultural lifestyle of the residents, who enjoy dining out in cafes and restaurants very often. This creates a massive opportunity for various vendors who can cater to niche requirements that this market demands. Responding to this demand, major hotel chains have inaugurated new branches in countries like Iceland, Spain, London, and the UK.
The UK, Germany, and France are the key contributors for commercial beverage blender sales in the region. However, shifting consumer preference toward consumption of alternate forms of beverages such as carbonated drinks and flavored waters in many countries can create periods of slower growth in the forecast period. Waring, Hamilton Beach Brands, Vitamix, and Santos are some of the most popular brands of commercial beverage blenders in the region.
APAC: market driven by massive penetration of international retail chains
“Like North America, the developing countries in APAC are also showing an increased preference for healthy beverages. Thus, this region is emerging as lucrative market for frozen beverages and smoothies. This has brought forth many beverage providers such as Starbucks, Dunkin’ Donut, McCafé, Jamba Juice, and Smoothie King, who have massive expansion plans in countries like China and India,” says Manu.
Other countries are not far behind in the market space. For instance, South Korea based Shinsegae Group announced its intention to buy the Korean network of Smoothie King to introduce the brand in Vietnam. Jamba Juice, a key vendor in the international juice market, has its presence in the Philippines, and Thailand also announced plans to expand its presence to Taiwan and Indonesia in 2016.
ROW: international tourism boosts market growth
The UAE, Brazil, and South Africa are some of the important markets for frozen beverages and smoothies in the region. The countries in this region are focusing on the betterment of their tourism industry, and the thriving tourist arrivals in the region are expected to positively influence the sales of commercial beverage blenders. This factor is encouraging many beverage providers to invest in better quality equipment to ensure consistency in taste and flavor, which is comparable to the drinks available in the US and the UK.
Another key driver is the increase in the number of new shopping malls in Latin American countries, which provides more retail space and a constant flow of customers. These malls see an increased adoption of blended refreshments for the shoppers, which directly impact the sales. Hamilton Beach and Univex are some of the examples of popular players offering commercial beverage blenders in Brazil.
The top vendors in the global commercial beverage blender market highlighted in the report are:
- Hamilton Beach Brands
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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