Small Appliances Market Revenue To Strike $100.2 Billion By 2028, Due To Rising Adoption Of Heat-Resistant Microwave Ovens | Million Insights

April 19 07:18 2022
Small Appliances Market Revenue To Strike $100.2 Billion By 2028, Due To Rising Adoption Of Heat-Resistant Microwave Ovens | Million Insights
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According to new report available with Million Insights, Small Appliances Market is expected to grow owing to rising demand for auto cut protection-based electric kettles from the consumers of the U.K. and Germany, during the forecast period. Also, the rising adoption of non-sticky grills and roasters is anticipated to refuel small appliances market growth.

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.

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U.S. Small Appliances Market size, by type, 2018 - 2028 (USD Billion)

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.

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Global Small Appliances Market share, by distribution channel, 2020 (%)

Small Appliances Market Report Highlights

• Asia Pacific made the largest contribution in the global small appliances of over 35% share in 2020 due to the rising demand for the smart defrosting enabled microwave oven product in China for the household cooking solutions

• The small kitchen appliances segment contributed to the highest share of 20% of the global market revenue in 2020. Rising demand for juicers from the consumer of the U.S. is escalating the demand of the small appliances product

• In Central & South America, the market is projected to witness a CAGR of 5.4 % from 2021 to 2028. This can be attributed to the emerging trend in Brazil to embrace automatic pop up toasters

• The online segment is projected to register the fastest growth during the forecast timeline. This can be attributed to the prime features of online trading such as easily accessible trading, 24/7 availability of shopping portals, and zero-dependency on the local consumers

Small Appliances Market Segmentation

Million Insights has segmented the global small appliance market on the basis of type, distribution channel, and region:

  • Small Appliances Type Outlook (Revenue, USD Million, 2017 – 2028)
    • Vacuum Cleaners
    • Small Kitchen Appliances
    • Hair Clippers
    • Irons
    • Toasters
    • Grills & Roasters
    • Hair Dryers
    • Coffee Machines
    • Microwave Ovens
    • Electric Kettles
  • Small Appliances Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
    • Offline
    • Online
  • Small Appliances Regional Outlook (Revenue, USD Million, 2017 – 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      •  U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Central & South America
      • Brazil
      • Argentina
      • Rest of Central & South America
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of Middle East & Africa 

List of Key Players of Small Appliances Market

  • Morphy Richards
  • Koninklijke Philips N.V.
  • Robert Bosch Gmbh
  • Electrolux Ab
  • Haier lnc.
  • Breville Group
  • Krampouz
  • Nemco Food Equipment
  • Hamilton Beach
  • Chefman
  • Panasonic Corporation
  • Dyson
  • Havells India Ltd
  • Bajaj Electricals Ltd
  • Weber-Stephen Products LLC
  • The Middleby Corp.

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