A new report has predicted that the global commercial beverage blender market will see a compound annual growth rate (CAGR) of 8.3% between now and 2020.
The study, available from Research and Markets, provides an overview of market size and calculates anticipated revenue generated from the sales of new units of commercial beverage blenders to juice bars, pubs, and clubs, restaurants, hotels and catering companies.
Brands such as Vitamix, Blendtec, Hamilton Beach and Waring are all referenced in the report.
“The latest trend gaining momentum in the market is jar free technology,” it claims. “In the conventional beverage blenders, regular cleaning and rinsing leads to wastage of more water and also accounts for around 10% of beverage ingredient wastage. To overcome these challenges, manufacturers are coming up with technological innovations in commercial beverage blenders, which, in turn, leads to product automation.”
According to the report, one of the major drivers for this market is strategic alliances.
An increase in the number of strategic alliances to improve the product reach and enhance the sales network is expected to significantly propel the market growth during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is prevailing market for used commercial beverage blenders.
“Most of the commercial beverage blender operators are leaning toward using high-end beverage blender models so as to offer better quality beverage with high consistency over the taste and texture of blended beverages. However, many small food service establishments are price sensitive and avoid unnecessary expenditure to maximise their overall profit margin. Thus, they prefer investing in used beverage blenders to get advanced features at economical price,” it claims.