Mexico Small Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Mexico Small Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Mexico Small Home Appliances Market size is estimated at USD 5.89 billion in 2024, and is expected to reach USD 6.16 billion by 2029, growing at a CAGR of less than 6% during the forecast period (2024-2029).

The small home appliances market in Mexico is experiencing growth, driven by rising purchasing power, urbanization, and the increase in the population. Some of the key trends and innovations in this market include the preference for sustainable and eco-friendly appliances, the growing demand for coffee machines, food processors, vacuum cleaners, and other kitchen appliances, and the increasing popularity of manual cleaning products.

Rising purchasing power, middle-income households, and rising demand for robotic vacuum cleaners and small kitchen appliances drive growth in the market. Sales through the wholesale distribution channel are leading to market growth. Walmart de Mexico, Costco de Mexico, El Puerto de Liverpool SAB de CV, El Palacio de Hierro, Sanborns de Mexico SAB de CV, and Sears Roebuck de México are some of the major online retail channels in Mexico. The smart appliances segment of small appliances is also eventually driving the growth of the market through an increase in the number of smart homes. Brands such as Hamilton Beach and Proctor-Silex, present in the market, have a good distribution network.

Mexicans have coffee cultures, and thus, there is a rise in the consumption of coffee and coffee makers in the market. Many people consume coffee to wake up in the morning, as a digestive after meals, and sometimes during the afternoon as a refreshing drink during a relaxing moment. Small domestic appliances that are connected to the internet and systems are gaining traction in the market.

The online channel of distribution currently has demand for small home appliances due to the COVID-19 impact and is seeing an increase in sales in the market. The COVID-19 pandemic changed buyers' and consumers' behaviors worldwide. As people were forced to spend more time at home due to home office, digital classes, and lockdown measures, they started to use their kitchens more frequently. Often, households noticed a lack of or the need to renew home appliances, which was very beneficial for electrodomestic manufacturers and their providers. Small home appliances are driven by growth in increasing smart homes in the country, along with rising internet users. Consumers prefer sustainable and eco-friendly appliances due to the rising awareness about the environmental effects and costs associated with them.

Mexico Small Home Appliances Market Trends

Urbanization in Mexico is Driving the Demand for Small Home Appliances

Mexico has emerged as Latin America's small home appliances market. Mexico has a majority of the population between 15 and 64 years of age group. The rising population of Mexico and the increase in the urban population increased the demand for small home appliances such as Vacuum Cleaners, Coffee Machines, Food Processors, etc.; the urbanization of the population is also expected to increase the sale of smart major appliances, including high-end appliances. There is a rise in the sales of small kitchen appliances in the Mexican Small Home Appliance Market. Small home appliances and Small Kitchen appliances will further augment the growth of the market. Small Kitchen appliances hold the majority share in the market.

Smart Homes Driving the Growth of Small Home Appliances in Mexico

Mexicans are interested in buying smart home devices that can be controlled via a smartphone or an internet connection. Smart homes and the IoT era are leading to the change in house equipment to being more intelligent, remotely controllable, and interconnected.

Smart homes are on the rise in Mexico, because of which small domestic appliance penetration in Mexico is expected to rise. Smart small appliances with additional features and as per the convenience of the customer's diet and a healthy lifestyle are gaining traction in the market.

Mexico Small Home Appliances Industry Overview

Mexico's small home appliances market is comprised of local and foreign players present in the market. Internet retailing is gaining popularity in the market, along with manufacturers developing an omnichannel strategy to develop small appliance purchases. Major players in the market include Bosch, Mabe, S.A. de C.V. Av., Panasonic de Mexico S.A. de C.V., Fischer E Paykel Appliances Inc., etc.

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