Small Kitchen Appliances Market Extends at a Healthy CAGR of 4.22% by 2030

Introduction

Small kitchen appliances are typically more portable or semi-portable than their larger counterparts, and they have a smaller footprint overall than their larger counterparts. In order to do a particular chore around the house, the majority of this activity takes place on platforms, such as counter-tops and tabletops. Some smaller household appliances, like coffee makers and blenders, are only available in a home form, while others, like commercial blenders, are available in both home and commercial configurations.

It is anticipated that the market for small kitchen appliances would see expansion in the future years as a result of people's rising living standards, particularly in emerging nations. This is one of the primary factors driving this anticipated growth. The introduction of novel items to the market is the primary reason that is most likely going to be the primary driver of demand for tiny home appliances. Due to the hectic lifestyles that modern people lead, they will demand home appliances that can do their tasks quickly and effectively in a condensed amount of time. As a result of considerations like these, technology has developed that can execute many duties at once. This has resulted in the creation of a variety of multipurpose small appliances in the market, all of which have great growth potential in the market. The desire for simpler tasks in the kitchen, along with the rise of the modular kitchen, is expected to result in a significant uptick in demand for these various kitchen gadgets in the not-too-distant future.

Market Dynamics

The market for small kitchen appliances is predicted to grow as disposable income among households rises

It is anticipated that households' discretionary spending would drive the expansion of the market for small kitchen appliances in both established nations and emerging economies alike. The typical household's income has been rising, which has led to an increase in the consumer requirement for kitchen appliances. This would contribute to the growth and demand of compact kitchen appliances since they are more convenient and easier to operate than their larger counterparts.

Hectic work schedules Driving Small Kitchen Appliance Demand

Because of the substantial rise in the number of working women, the lifestyle of the population has undergone a considerable transformation. Due to this, the average income of households has improved, as have the general living standards. Because the husband and wife in the family both have jobs, they have far less time to devote to the chores of running the household by themselves.

A Growing Kitchen Renovation Trend Is Increasing Demand for Small Kitchen Appliances

Kitchen is the most expensive rooms in the house because of the high cost of appliances, worktops, cabinets, and other amenities. At this time, the technology that is employed in kitchen appliances is contributing to an increase in the overall cost of the category.

Homeowners now anticipate that the kitchen, which is often open to the rest of the house's living rooms, will serve as the primary gathering place for the entire household. As a direct consequence of this, consumers are increasing the amount of money they spend on kitchen remodels.

Product Variations and Economical Methods to Increase Sales of Small Kitchen Appliances

Due to the growing product penetration and the increasing level of competition in the market for small kitchen appliances, manufacturers have been driven to come up with extra versions of their products. Because of the tremendous competition, manufacturers are under constant pressure to develop new variants, which appeal to customers who place a high value on having a diverse selection of options. Companies have shifted their attention away from those with high incomes and toward those with middle-incomes and lower incomes.

Because of the cutthroat competition and the growing need for reasonably priced small kitchen appliances, businesses have been compelled to launch a wide range of products at costs that are comparable to those offered by their rivals.

Regional overview of Small Kitchen Appliances Market

The Asia Pacific region held the highest part of the market for small kitchen appliances in 2021, accounting for more than 36 percent of the total market share. This was made possible by the growing demand for intelligent food processors in China and India. The rapidly expanding demand in China for fruit juicers that can be quickly built will contribute to the expansion of the industry.

A compound annual growth rate (CAGR) of 5.9 percent is anticipated for Europe between the years 2022 and 2028. This is explained with the fact that there is a growing demand for blenders of a commercial grade in Germany in order to meet the demand for more modern cutters.

Key Highlights

• The market for small kitchen appliances globally was valued at USD 16.56 billion in 2021 and is expected to reach USD 93.45 billion in 2030 expand at a compound annual growth rate (CAGR) of 4.22% from 2022 to 2028.
• The market for small kitchen appliances is predicted to grow as disposable income among households rises.
• Hectic work schedules Driving Small Kitchen Appliance Demand
• Product Variations and Economical Methods to Increase Sales of Small Kitchen Appliances.
• The market for small kitchen appliances is segmented into the following categories: Type, Distribution Channel, Region.
• The category that accounted for the largest portion of the worldwide market's revenue in 2021—more than 31 percent—was blenders, mixers, and food processors.
• In 2021, the offline market segment accounted for around 75% of total market revenue.
• The Asia Pacific region held the highest part of the market for small kitchen appliances in 2021, accounting for more than 36 percent of the total market share.

Competitive Players

1. Morphy Richards
2. Koninklijke Philips N.V.
3. Robert Bosch GmbH
4. Electrolux AB
5. Haier, lnc.
6. Breville Group
7. Krampouz
8. Nemco Food Equipment
9. Hamilton Beach
10. Chefman

Recent Developments

Segmentation

1. By Type
   1. Waffle Irons
   2. Blenders
   3. Mixers & Food Processors
   4. Juicers
   5. Deep Fryers
   6. Egg Cookers
2. By Distribution Channel
   1. Offline
   2. Online