Small Home Appliances Market Size, Share, Growth, and Industry Analysis, By Type (Small Household Appliances for Personal Life, Household Appliances, Kitchen Catering Small Appliances, Bathroom Appliances), By Application (Online, Offline), and Regional Forecast By 2031

Updated On: 29 April 2024

Small Home Appliances Market Report Overview

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The global small home appliances market size was 98.06 billion in 2021, & the market is expected to reach USD 180923.43 million by 2031, exhibiting a CAGR of 6.4% during the forecast period. Koninklijke Philips, SEB, Midea, JS Global, Panasonic etc are the key players or most dominating companies functioning in the small home appliances market.

The COVID-19 pandemic has been unprecedented and staggering, small home appliances experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Small home appliances are a transportable or semi-portable device that is typically used on tabletops, counter tops, or other platforms to complete a household chore. It is also referred to as a modest electric appliance, minor appliance, or simply a tiny appliance, small domestic, or small electric.

The steadily changing lifestyle of the general public is a result of the dramatic rise in the percentage of working women. As a result, household income has increased and living conditions have improved. Since the husband and wife are both working full-time jobs, they have little free time to take care of domestic duties on their own. As a result, doing daily domestic tasks has required the employment of a variety of equipment. Utilizing home appliances enables households to both save time to spend with themselves and do their tasks efficiently. Thus, the market for small home appliances is expected to develop over the projected period as a result of the previously mentioned causes.

COVID-19 Impact: Supply and Isolation Limitations to Advance Market Advancement

The COVID-19 outbreak has had a favorable effect on the market for small home appliances as a whole.  People chose to replace their outdated appliances with more modern ones during the lockdown period, and authorities gave top priority to cleaning and hygienic conditions in hospitals, clinics, railway stations, and airports as a result of the rising number of COVID-19 cases. As a result, the COVID-19 outbreak has positively impacted the small home appliances market share.       

LATEST TRENDS 

"Rising Popularity of Smooth and Flavourful Blended Drink Items to Stimulate Market Development  "

It is anticipated that the market for of small appliances will benefit from the rising popularity of smooth and flavorful blended drink items. Additionally, it is projected that the demand for juicers would increase due to North America's increased knowledge of the benefits of drinking nutritious fruit juices. The market will have more potential as consumers want smart features like innovative wave action blenders at cheaper prices. The choice for less energy-efficient technology, however, is impeding market expansion. The consumer appliances industry's technical developments are also anticipated to present the market with sizable potential opportunities. Small kitchen appliances are becoming more popular all over the world because to innovations like the arrival of smart coffee grinders, air fryers, inductive cooktops, and others.  

Small Home Appliances Market Segmentation

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• By Type

Based on type; the market is divided into small household appliances for personal life, household appliances, kitchen catering small appliances, bathroom appliances

Small household appliances for personal life is the leading part of the type segment.

• By Application

Based on the application; the market is divided into online, offline

Online is the leading part of the application segment.

DRIVING FACTORS

"Commercial Component to Aid Market Expansion "

The dining establishments, hospitals, commercial and governmental complexes, offices, and small and medium-sized businesses make up the commercial component of the small home appliance market. By adapting and improving current small household appliances, the market's leading competitors are constantly changing the needs of the commercial sector. As a result, there have been numerous product introductions in recent years, particularly for the commercial market. As a result, the forecasted expansion of the small home appliances market growth is projected to be aided by the growing use of compact appliances in the business sector.      

"Strong Purchasing Power to Foster Industry Progress  "

The baking and cooking along with heating equipment category is predicted to grow by 2030. The demand for cooking, baking, and heating appliances has increased throughout time due to rising disposable income and a surge in the percentage of working professionals. Additionally, the acceptance of cooking appliances in developing countries including India and Indonesia has facilitated the development of such equipment due to the contribution of western culture in these countries.

Due to factors including strong purchasing power, improved infrastructure, and a rise in the working population, the demand for domestic cooking, baking, and heating appliances is significant among urban populations, particularly in developing countries. Additionally, the small home appliances market is being driven by an increase in the need for kitchens with modular construction that are safe and comfortable for users, as well as an increase in the cost of traditional gas.    

RESTRAINING FACTORS

"Large Space Employment by the Appliance to Hinder Market Advancement "

Small appliances occupy space on the counter and can become an annoyance if there isn't enough of it, even if they are only seldom used. Appliances that must be switched out or moved in order to make room for the appliance that is required are frequently never utilized at all. 

Small Home Appliances Market Regional Insights

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"Demand for Innovative Cooking Equipment in North America to Support Market Advancement  "

North America commanded the sales of small home appliances market in 2020, and it is anticipated that it will keep that position throughout the forecast period.  North America's industrial white goods market was estimated to be worth roughly $78,017.30 million during 2019 and is anticipated to overtake Europe as the leading region for small household appliances during the projection period of 2021–2030. The demand for innovative and improved cooking and cleaning equipment is expected to be driven by the rising use of energy-efficient small home appliances due to the lowering rate of energy consumption.

The demand for air treatment in North America is being driven by the rising demand for energy-efficient electronics in the U.S. The increase in demand in the U.S. is being boosted by increasing knowledge of ENERGY STAR approved goods. Additionally, it is anticipated that the regional small home appliances market will expand significantly due to the demand for smart linked machines to replace conventional ones.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Koninklijke Philips (Netherland)
• SEB (Sweden)
• Midea (China)
• JS Global (U.S.)
• Panasonic (Japan)
• Xinbao (China)
• Whirlpool (U.S.)
• Haier (China)
• LG Electronics (South Korea)
• Spectrum Brands Holdings (U.S.)
• Electrolux Group (Sweden)
• BEAR ELECTRIC APPLIANCE CO.,LTD. (China)
• Xiaomi Inc. (China)
• Samsung Electronics (South Korea)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.