The global small kitchen appliances market is expected to grow at a CAGR of 3.5% from 2022 to 2030
The market size of small kitchen appliances has been valued at $102.31 billion in 2022, and small kitchen appliances hold 62.2% of the global market share in 2022. Product advent, business expansion and mergers are the major growth strategies of the small appliances market players of the kitchen.
NEWARK, Del., June 13, 2022 /PRNewswire/ — The World small kitchen appliance market is estimated at US$102.31 billion in 2022 and is expected to grow to 3.5% CAGR during the forecast period 2022-2030. Awareness of health and fitness and the use of environmentally friendly products are the latest trends observed in almost all sectors, which have a direct or indirect impact on consumers and the environment.
This trend is also seen in the cookware industry where consumers are increasingly demanding green or sustainable products that will not harm the environment around them. Due to the growing need for durable kitchen appliances, many new trends have appeared in the market.
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For example, gas cooktops use less energy than electric cooktops, but they release carbon monoxide, carbon dioxide, and nitrogen dioxide into the air, which harms the environment. Chefs around the world prefer eco-friendly cookware that will not endanger consumers’ health.
One example is Cuisinart’s Green Nonstick Cookware Set. It consumes less energy and reduces harmful carbon emissions. Driven by these factors, the small kitchen appliances market is expected to witness steady growth in the coming years.
Key Insights from Small Kitchen Appliances Market Research
East Asia is expected to dominate the global small kitchen appliances market owing to its large population base which is more inclined to favor healthy and homemade foods.
The small kitchen appliances market is mainly dominated by small cooking appliances due to the increasing eating habits at home, which creates additional demand for small cooking appliances such as stoves, fryers, toasters , etc.
According to IMF, the residential sectors are expected to see higher sales of small kitchen appliances compared to the commercial sector, but the HoReCa (hotel, restaurant, cafe) segment is expected to grow at the highest CAGR during the forecast. Changing consumer lifestyles and increasing income level are expected to drive the growth of the industry over the forecast period.
Modern trade (hypermarket/supermarket) is considered the largest sales channel in terms of value share in the global indirect sales channel of small kitchen appliances.
Hypermarkets/supermarkets are expected to dominate the global market due to the wide variety of products from multiple vendors at competitive prices.
The small appliance industry is booming with increased sales on e-commerce platforms, thanks to advantages such as the ability to compare product prices, brands and product variety, and the possibility of reading the opinions of other consumers. The e-commerce industry is reshaping the global retail market.
The growing interest in online shopping is driving the industry forward. The ability to compare products from different vendors has led to an increase in online sales.
Leading companies profiled in the Small Kitchen Appliances market are
Sales of small kitchen appliances are gaining momentum globally due to high product awareness and innovative new product launches
Technological advancements, energy efficiency, cost and product quality are the main factors determining consumer buying preferences. The advent of the e-commerce industry and the wide availability of different offline sales channels such as modern stores (hypermarkets/supermarkets, specialty stores, etc.) are supporting the industry on the supply side. Rising health consciousness, increase in consumers with cooking as a hobby, growth of TV programs and cooking recipes on YouTube and other online platforms are pushing consumers towards food at home, which which leads to an increased demand for small kitchen appliances across the world.
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“Integrating technology into kitchen appliances is nothing new, so manufacturing focuses on eco-friendly materials, energy efficiency, and easy recycling of product materials that will have minimal impact on the environment. environment Compact and multifunctional devices will be preferred in the future. South Asia & Pacific might be the potential region in the future for small kitchen appliances, so manufacturers should focus on the samee” IMF analyst says.
Survey of key segments of the small kitchen appliances industry
Small Kitchen Appliances Market by Product:
Small Kitchen Appliances Market by Price Range:
Small Kitchen Appliances Market by End Use:
Small Kitchen Appliances Market by Sales Channel:
Small Kitchen Appliances Market by Region:
North America Small Kitchen Appliances Market
Latin America Small Kitchen Appliances Market
European small kitchen appliances market
East Asia Small Kitchen Appliances Market
South Asia & Pacific Small Kitchen Appliances Market
Middle East & Africa (MEA) Small Kitchen Appliances Market
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The market will recover as economies return to normal post-coronavirus
Covid-19 who was born in China has now spread all over the world. With the exception of essential products and services, all businesses are temporarily closed. According to the World Economic Forum, the economies of the United States and the Eurozone are expected to resume their full swing until 2023. The market for small kitchen appliances is also affected due to the Covid-19 pandemic, with production being temporarily suspended as physical stores are closed.
Online platforms are also facing challenges in delivering products due to the country lockdown and low stock availability. However, the initiatives taken by the governments of the respective countries have curbed the growth rate of infected people. This shows a positive sign of normalcy over the next quarter for a few countries such as China, India etc
Some of the major players operating in the small kitchen appliances market are Whirlpool Corporation, Panasonic Corporation, Groupe SEB, Electrolux AB, BSH Hausgerate GmbH, Haier Group, LG Electronics, Dongbu Daewoo Electronics, Samsung Electronics, Breville, Miele, Koninklijke Philips NV , Conair Corporation and others.
Several major players in foot care products are launching innovative new products to expand their footprint and product portfolio. At present, manufacturers are focusing on R&D, M&A, and partnership activities to come up with new technologies that can change the market landscape of small kitchen appliances.
In November 2019Caraway Home has launched eco-friendly, non-toxic and non-stick cookware. September 2019Philipps had launched the Keurig K-Duo coffee machine in three variants.
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Obtain valuable insights into the Small Kitchen Appliances Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global small kitchen appliances market, showcasing historical demand data (2015-2019) and forecast statistics for the period 2020-2030. The Small Kitchen Appliances study reveals compelling insights into the Small Kitchen Appliances market based on product type (small cooking appliances, food preparation appliances, and beverage makers), price range price (premium/premium, economy/mass), end-user (residential, commercial) and sales channel (wholesaler/distributor, hypermarket/supermarket, multi-brand stores, small independent stores, online and others) on all regions.
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SOURCE Future Market Outlook