Research Support Specialist, USA
The global small appliances market size is expected to reach USD 100.2 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of 4.6% from 2021 to 2028. The market growth is accelerated by the rising demand for auto cut protection-based electric kettles from the consumers of the U.K. and Germany. The surge in the adoption of heat-resistant microwave ovens across the globe is expected to refuel market growth.
Soaring demand for toasters, grills, and roasters in North America is stimulating market growth during the assessment period. However, the higher cost of coffee machines is hindering market growth. Major Key players are launching the stainless steel-based cavity material for microwave ovens. The rising adoption of non-sticky grills and roasters is anticipated to refuel market growth.
Covid-19 pandemic had exposed the fragileness of the global supply chain. The inexorable impact of the pandemic is affected several industries. Pandemic is sensitive to economic cycles. During the pandemic, the market had been slightly hampered owing to the supply chain disruption of offline trading. This can be attributed to the interruption in offline trading owing to the national lockdown enforced across the globe. Offline trade activities of the local suppliers were lurched owing to the stringent government guidelines for public gatherings during the pandemic era.
Auto-lock zoom wheel-based hair clippers had gained traction during the covid-19 pandemic. Rising concern for healthy beverages is refueling the coffee machines market growth. Prime key players of the market are approaching e-commerce portals to refuel the sales of the small appliances. Electronic commerce is transmuting the scalable approach for the small appliances product which in turn will refuel market growth.
The vacuum cleaners segment will register the highest growth over the forecast period. This can be credited to the growing demand for foot-operated vacuum cleaners from the consumers of the U.K. and Germany. Automatic cord winder and suction control are the prime features of vacuum cleaners. Irons, grills and roasters, hair clippers, toasters also reflect the significant market growth during the forecast period. This can be credited to the rising demand for innovative ergonomic design-based small appliances across the globe.
The online segment is projected to register the fastest growth during the forecast timeline. This growth is owing to the increased focus of small appliances manufacturers to adopt the e-commerce sales methodology. Quick setup, easily accessible trading, 24/7 availability of shopping portals, door-step delivery, and zero-dependency on the local consumers are the prime features of online trading. Mobile trading application, cloud-based platform, and the advanced software system will contribute to enhance market growth.
Asia Pacific made the largest contribution in the market and accounted for revenue share of over 35.0% in 2020 due to the growing demand for big squeeze food processors from the Indian consumers for better cooking performance. The market share of Japan is driven by the rising demand for commercial-grade blenders.
The report “Small Appliances Market Size, Share & Trends Analysis Report By Type (Vacuum Cleaners, Hair Clippers, Toasters, Coffee Machines), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global small appliance market on the basis of type, distribution channel, and region: