As per the report published by Allied Market Research, The small domestic appliances market size was valued at $176,804.3 million in 2020 and is estimated to reach $581,657.6 million by 2030, registering a CAGR of 13.0% from 2021 to 2030.
Increase in health concerns among the customers, surge in disposable income, technological advancements, and convenience factor of small domestic appliances drive the growth of the market. However, energy consumption and availability of counterfeit brands hinder the global small domestic appliances market. On the contrary, increase in social media marketing, availability of quality product at affordable prices, and uses of small kitchen appliance are expected to open new opportunities for the market players in the future.
Covid-19 scenario:
The Covid-19 pandemic positively affected the demand for small domestic appliances as trend of replacing the old appliances with smart and advanced appliance.
The rise in number of Covid-19 patients encouraged people to purchase cleaning and hygiene related equipment.
However, the prolonged lockdown disrupted the supply chain and create a gap betweensupply and demand.
In addition, the rise in e-commerce during the pandemic favored the market as increased number of people opted online portals to purchase air treatment appliances.
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The report segments the global small domestic appliances market on the basis of product type, distribution channel, end user, and region.
Based on product type, the kitchen appliances segment held the largest share in 2020, accounting for more than two-fifths of the market. However, The cleaning appliances segment is estimated to witness the significant growth, registering a CAGR of 14.3% during the forecast period.
The global small domestic appliances market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for nearly one-third of the market. However, the market across LAMEA is expected to register the highest CAGR of 14.9% during the forecast period.
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The global small domestic appliances market report includes an in-depth analysis of the prime market players such as The Whirlpool Corporation, Koninklijke Philips N.V., BOSCH, LG Electronics Inc., Panasonic Corporation, Electrolux AB, The Middleby Corporation, Spectrum Brands Holdings, Inc., Samsung Electronics Co. Ltd., and Morphy Richards.
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