The small kitchen appliances market size was valued at USD 16.56 billion in 2021 and is expected to reach USD 24.02 billion in 2030 expanding at a compound annual growth rate (CAGR) of 4.22% from 2022 to 2030.
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 small kitchen appliances market share 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.
People shopping in this sector are seeking items that are not only within their price range but also offer a high level of use and convenience. When consumers acquire tiny kitchen appliances on the market, other significant considerations that are taken into account include the capacity of the items as well as their functionalities. Manufacturers are attempting to incorporate robotic technology into tiny kitchen appliances in order to create a user-friendly interface and enable simplicity of operation so that they may better fulfil the various demands of their consumers.
|Fastest Growing Market||Europe|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
It is anticipated that households' discretionary spending would drive the expansion of the small kitchen appliances market 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.
The time that it takes to operate kitchen appliances and the efficiency with which they do so have both been improved as a result of recent improvements in tiny kitchen appliances and items. These new factors have added even more weight to the argument in favour of using compact home equipment. It is projected that the demand for high-end items would be driven by developments such as modular kitchens, a rise in spare money, and the rising number of working populations in urban settings.
Because of the substantial rise in the number of working women, the lifestyle of the population has undergone a considerable transformation. As a direct consequence of 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.
As a direct consequence of this, a wide variety of kitchen appliances are necessary to carry out everyday tasks in the home. Individuals are able to save time for themselves while simultaneously giving outstanding service at their place of employment thanks to the availability of household devices. Because of this, the factors that were discussed before are the primary contributors to the expansion of the small kitchen appliances market demand throughout the course of the forthcoming term.
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.
In addition, customers are investing in higher-priced kitchen appliances, which increases the need for remodelling older kitchens. Consumers do this because they want their kitchen to have a more upscale atmosphere. In the past years, there are a number of significant trends that have evolved in terms of renovating kitchens. Two of these trends are the remodelling of kitchen cabinets and the replacement of obsolete small kitchen equipment.
Over the last several years, consumers have been utilising kitchen appliances made of stainless steel; however, they are now showing a greater interest in non-stick tiny kitchen appliances and compact automated kitchen appliances.
Due to the growing product penetration and the increasing level of competition in the small kitchen appliances market growth, 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.
In addition, producers have been able to decrease the price of tiny kitchen devices with the assistance of developments in technology. Behemoths of the internet like as Amazon and Walmart, who provide reasonably priced kitchen equipment, have also presented a challenge to the industry.
It is anticipated that the high prices of these devices in comparison to conventional products as well as significant maintenance and repairing costs will act as a major limiting factor for the small kitchen appliances market growth. On the other hand, the numerous side effects associated with the products may pose a challenge to the expansion of the market for small kitchen appliances.
Based on region the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East.
The Asia Pacific region held the highest part of the market for small kitchen appliances in 2021, accounting for more than 36% 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. The increasing demand for masticating juicers in India is the primary factor driving the country's market share. A further factor that is projected to contribute to the expansion of the market is the rising demand for waffle makers among Indian home customers.
A compound annual growth rate (CAGR) of 5.9% is anticipated for Europe between the years 2022 and 2028. This may be explained by 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. The expansion of the market is being driven in large part by a growing trend in the United Kingdom to use swivel-round waffle makers. It is anticipated that the expanding use of the huge squeeze food processor in Italy will be the primary driver of development during the period covered by the prediction. In addition, private businesses within the European Union are contributing financial backing to facilitate the acquisition of environmentally friendly appliances, which is expected to stimulate the expansion of the industry.
The small kitchen appliances market is segmented into the following categories: Type, Distribution Channel, and Region.
Based on Type the market is segmented into Waffle Irons, Blenders, Mixers & Food Processors, Juicers, Deep Fryers and Egg Cookers. The category that accounted for the largest portion of the worldwide market's revenue in 2021—more than 31% —was blenders, mixers, and food processors. For the chopping and grinding of fruits and vegetables, food processors provide a very flexible option. The main use of blenders and mixers is to whip and mix various liquid items. The demand for compact appliances is rising as more people use modern food processors made of dependable stainless steel. During the assessment period, the segmental expansion would be aided by the growing demand in developing nations like China and India for food processors built on the Morphy Richards Icon platform.
During the anticipated timeframe, the juicers category is expected to have the small kitchen appliances market's highest CAGR, at 5.8%. This can be attributed to the growing interest in quick-clean juicer technology, which has a micro-sieve that is simple to clean. Juice collectors and the increased need for compact pulp storage containers both contribute to the market's expansion throughout the projection period. Sales of the category will be driven by the juicers' power, performance, operational efficiency, and lower cost throughout the review period.
The egg cookers market, on the other hand, is anticipated to grow at a substantial CAGR of 5.1% over the forecast period. The market is primarily expanding as a result of the increased demand for dietary goods made with eggs and the global rise in health consciousness. Additionally, it is anticipated that throughout the projection period, the high demand for egg cookers in developed countries like the U.S., the U.K., and others would add to the segmental share.
In 2021, the offline market segment accounted for around 75% of total market revenue. Through the connected network of hypermarkets, the rising demand for compact kitchen equipment in emerging nations would boost appliance sales. It is anticipated that the expanding consumer trend toward supermarkets and neighbourhood appliance stores will rekindle market expansion. Waffle makers, juicers, deep fryers, mixers and food processors, as well as blenders, mixers and food processors, are just a few of the unique products that retail appliance stores provide. The aftermarket services offered by domestic appliance retailers are supporting customers in a way that is more affordable, which will spur market expansion.
During the projection period, the online segment is anticipated to have the quickest CAGR of 5.8%. This rise is attributable to the small kitchen appliance makers' greater attention to using the online sales approach. The e-commerce platform is anticipated to enhance both the efficiency of product distribution and the supply chain for kitchen appliances. To increase customer happiness, the internet sector effectively responds to client inquiries. The increased demand for food processor items via the online sales channel is what is driving the market expansion. Consumer-focused e-commerce services with effective delivery options are a key element expected to boost industry expansion.
List of key small kitchen appliances market suppliers profiled