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Onion Holder Market Segmented By Product Type such as Automatic and Manual
The onion holder market is set to witness steady growth during 2021-2031, with a CAGR of around 3.5%. Demand for onion holder is likely to witness high growth rate attributing to the advancement in technologies that allows mass production of sliced onion in desired shape and size.
Further, the growing demand for compact, efficient, and reliable slicing equipment in household kitchens is likely to grow the sales of onion holders.
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The demand for onion holders is likely to witness substantial growth rates during the forecast period owing to the largely driven demand for convenience equipment that makes cooking simpler and less time-consuming. Moreover, an onion holder allows the consumer to slice onion in the desired shape and size, as required in the food being prepared.
In addition, the growing number of restaurants, bars, cloud kitchens, etc., are likely to grow demand for innovative equipment for the kitchen such as an onion holder.
Additionally, the rising awareness about health concerns is encouraging individuals to consume home-cooked meals to follow a healthy lifestyle thus, demand for onion holders is likely to grow.
However, the outbreak of COVID-19 had a major effect on the economy of industries. The reason being the shutdown of manufacturing plants, rising unemployment, individuals maintain social distance to stop the spread of the virus. Additionally, the shortage of material affected the production capacity due to the ban on trading between countries, therefore, affecting the sales of onion holders.
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Get a Customized VersionIn the last few years, the slicing tool industry has gained momentum owing to the rising demand for low-maintenance tools that ease the work of an individual and allows them to obtain desired shape and size of the onion.
Additionally, such equipment also improves the efficiency and productivity of an individual and allows them to spend more time on priority tasks. The growing dependency of individuals, especially millennials on restaurant-cooked food is likely to grow demand for such equipment during the forecast period.
Moreover, the presence of affordable smartphones and expanding availability of the internet is likely to create new opportunities for products like onion holders to expand their market presence through various digital platforms, therefore, boosting the sales of onion holders.
The U.S. is one of the largest markets for onion holder globally, attributing to the evolving mindset and high adoption rate of technology-based equipment that improve the efficiency and makes the task simpler.
Demand is likely to remain muted in the next couple of years, as several end-use industries make a gradual recovery. However, digital marketing through various social media platforms and growth in the development of e-commerce platforms that has reduced the checking out time drastically is likely to gain attention of consumers and thus, create new opportunity for onion holder industry.
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The countries of Europe are likely to create a lucrative industry of onion holders owing to the presence of favorable governments, solid infrastructure, and a high economy allowing the emergence of new brands and start-ups in various segments.
Moreover, the presence of rich European culture also referred to as western cuisine that includes a variety of food and dishes under the Greek, Nordic, Mediterranean, and other cuisines leads to high demand for efficient, affable, and productive tools that ease the basic procedures of cooking and help achieve the desired shape of vegetable for consistency, therefore, growing the sales of onion holder.
Some of the leading manufacturers and suppliers of onion holders include
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
