Japan Small Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Japan Small Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Japan Small Home Appliances Market size is estimated at USD 3.04 billion in 2024, and is expected to reach USD 3.55 billion by 2029, growing at a CAGR of 3.10% during the forecast period (2024-2029).

The Coronavirus Disease Pandemic (COVID-19) has affected all parts of the world. The coronavirus has not only taken several lives but has also affected the global economic structure. This virus has changed all the market conditions and hampers the growth of the Japan small home appliance market. Despite no compulsory lockdown in Japan, businesses and residents took many precautionary measures to safeguard against the Coronavirus (COVID-19) outbreak. The growing popularity of the work-from-home style of working among corporate professionals for disease prevention purposes has gained traction in the consumer's interest in doing various cooking activities. Time-saving small cooking appliances such as bread makers and electric grills have been on the rise as consumers limit their foodservice experiences.

Small appliances are semi-portable or portable machines and are generally used on platforms such as counter-tops and tabletops. Some of the small appliances are air purifiers, humidifiers & dehumidifiers, blenders, clothes steamers & iron, electric kettles & coffee machines, and others.

Increase in technological advancements, rapid urbanization, growth of the housing sector, rise in per capita income, improvement in living standards, the surge in need for comfort in household chores, changes in consumer lifestyle, and escalation in a number of smaller households are the key factors that drive the growth of the Japan small home appliances market.

Factors such as government initiatives for energy-efficient appliances undertaken across Japan are expected to facilitate the adoption of energy-efficient appliances in recent years. The overall demand for home appliances has increased among urban households, as household appliances help save time, simplify work, and increase the comfort level. Thus, improved standard of living and growth in disposable income is projected to boost the penetration of household appliances, thereby driving the Japan home appliances market growth.

Japan Small Home Appliances Market Trends

Increasing Users of Smart Appliances is Driving the Market for Home Appliances

Smart appliances come in a wide range of domestic devices and are designed to use digital technology to complete their functions quickly, using much less energy at a much cheaper cost. These machines can typically be operated from a convenient, central operating system such as a mobile device or a remote. Overall, they provide convenience and additional control to any house. Consumers have started utilizing modernized devices and adopting technologies to improve the household. Japan's home appliance market is experiencing profitable growth due to increasing users and increasing consumption of small home appliances.

Growing Online Sales is Driving the Market

The online segment is anticipated to showcase the fastest growth during the forecast period. Online sales channels involve sales through e-commerce platforms. Given the increased spending power, e-commerce's growing popularity among the Japanese population creates a distinctive opportunity for the small home appliances market. Additionally, easy accessibility of the online payment banking solutions to the consumers is expected to further fuel the segment demand. During the COVID-19 pandemic, consumers in Japan are transferring a significant amount of their spending from offline to online purchases. Japan is no exception.

Japan Small Home Appliances Industry Overview

The report covers major international players operating in the Japan Small Home Appliances Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support