Small Kitchen Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Small Kitchen Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Small kitchen appliances are usually small in size when compared to large appliances and are portable or semi-portable. These appliances are majorly used on platforms, such as counter-tops and tabletops to achieve a certain household task. Small appliances are often known to have both commercial and home versions and only the home version for some appliances, such as blenders, and coffee makers.

The small kitchen appliance market is expected to witness growth in the coming years, owing to the growing living standards of the people, especially in the developing regions. The main factor that will likely drive the demand of small appliances is the development of innovative products in the market. As modern-day people are working in a hectic lifestyle, they will require appliances that can work fast and efficiently in lesser time. Such concerns have led to the development perform multifunctions at the same time. This has led to the development of various multifunctional small appliances in the market which have high growth opportunity in the market. These kitchen appliances are likely to witness strong demand in the coming future due to the need for easy kitchen work and the emergence of the modular kitchen.

People in the market are looking for products that are convenient to use and at the same time in their affordability range. The capacity and functionality of products are other important factors that are looked upon when consumers buy small kitchen appliances in the market. To meet varying demand from customers, manufacturers are working on incorporating robotic technologies in small kitchen appliances to provide a user-friendly interface and enable ease of operations.

Key Market TrendsIncreasing Disposable Income of the Households is Expected to Drive Growth of Small Kitchen Appliances Market

Disposable income within each household is expected to spur the growth of small kitchen appliances across developed and developing economies alike. As the income of the average household increases, there has been a rise in the consumer need for kitchen appliances, which in turn would lead to the growth and demand of small kitchen appliances as they are more convenient and easy to use.

New innovations in small kitchen appliances and products have augmented the time and efficiency of the operation of kitchen appliances. These developments have further incentivized the need to buy small kitchen appliances. Innovations, such as modular kitchens, an increase in surplus money, and the growing number of the working population in urban societies are anticipated to drive the demand for high-end products.

Asia Pacific Region along with BRICS Countries are Fastest Growing Market

The Asia Pacific is the fastest-growing market for the small kitchen appliances and leads in terms of volume sales of small kitchen appliances. The growth of this market is mainly governed by a growing population, rising disposable incomes, single-families, and developing economies in the region. China, India, and Brazil are expected to lead the market in terms of volume growth. Other factors such as the high penetration rate of small appliances when compared to another region will influence the market positively.

The growing working-class population in the Asia Pacific region coupled with the trend of fast food consumption is further expected to drive the innovation in small kitchen appliances market. E-commerce as a whole has grown tremendously over the five years to 2019 in the sale of small kitchen appliances through the internet. The growth of the distribution through online retail channels is mainly attributed to the increase of internet access, growing usage of smartphones, tablets and, an increase in the number of internet retailers.

Competitive Landscape

The small kitchen appliances market is fragmented and highly competitive due to the presence of a large number of small and large players in the market. Companies are trying to innovate new multi-functional appliances to remain competitive and attract customers in the market. Stakeholders are implementing an omnichannel marketing strategy to reach a wide range of customers across the world. Diversification in terms of products and places will likely be able to help companies maintain their businesses in the future. Many start-ups are also innovating different products, such as Air Fryer and the Power Smokeless Grill by GoWISE, which can further increase the competition for already existing brands.

Additional Benefits:

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

Companies Mentioned
 
Randox Laboratories Ltd
Biosystems SA
McKesson Medical
Surgical Inc.
Sekisui Diagnostics LLC
Thermo Fisher Scientific
Henry Schein
Diagnostic Systems GmbH

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