Growth in the small appliances market is supported by factors such as rising trend of modular kitchen, technological innovation, multifunctional appliances and smart appliances. However, the market growth is expected to be restrained by fluctuation in raw material prices and macroeconomic downturn & restraints on expansion.
The global small appliances market by segment can be categorized as follows: small cooking appliances, personal care appliances, vacuum cleaners, food preparation appliances and others. In 2022, the dominant share of global small appliances was being held by small cooking appliances, followed by personal care appliances. The multifunctional and rising popularity of smart features in appliances, and technological innovation is estimated to support the small cooking appliances market.
The global small appliances market by region can be segmented as follows: China, Europe, North America and Rest of the world. The larger share of the market was held by China.
Owing to outbreak of coronavirus, the global small appliances market witnessed a slight turbulence owing to the lockdowns, the overall consumer sentiment has been positive. During lockdown period, people were choosing replace their old appliances with smart and advanced appliances. The home cooking norm contributed significantly in the growth of small kitchen appliances.