Home Research Reports Small Kitchen Appliances Sales Spurs In Response to Rising Demand for Eco Friendly Appliances: Future Market Insights

Small Kitchen Appliances Sales Spurs In Response to Rising Demand for Eco Friendly Appliances: Future Market Insights

by markit Wired
15 views

The global small kitchen appliances market is estimated to be valued at ~US$ 96 Bn in 2020 and expected to expand at 3.4% CAGR during the forecast period of 2020-2030.  Health and fitness awareness and usage of environment-friendly products are the latest trends observed in almost every industry, which has a direct or indirect impact on consumers and the environment. This trend is also observed in the cookware industry where consumers are increasingly demanding green or sustainable products, which will cause no harm to the surrounding environment. Due to the growing need of sustainable kitchen appliances, many new trends have emerged in the market.

As an example, gas cooktops use less energy than electric ones, but they do release carbon monoxide, carbon dioxide, and nitrogen dioxide into the air which harms the environment. Chefs around the world prefer eco-friendly pans that will not put the health of consumers at risk. Cuisinart’s green gourmet non-stick cookware is an example of it. It consumes less energy and reduces harmful carbon emissions. Spurred by these factors the small kitchen appliances market is expected to witness a steady growth in the coming years.

Key Takeaways from the Small Kitchen Appliances Market Study

  • East Asia is expected to dominate the global small kitchen appliances market owing to large population base which are more inclined towards healthy & home cook food. Small kitchen appliances market is primarily dominated by small cooking appliances due to growing food eastings habit in home which further creates demand for small cooking appliances such as cooker, deep fryer, toaster etc.
  • According to FMI, residential sectors are expected to see higher sales of small kitchen appliance as compared to commercial sector however HoReCa (hotel, restaurant, café) segment is anticipated to expand at highest CAGR during the forecast. Changing consumer lifestyle and increasing income level is expected to boost industry growth over the forecast period.
  • Modern trade (hypermarket/ supermarket) is considered as the largest sales channel in terms of value share in the global small kitchen appliances indirect sales channel. Hypermarket/Supermarket is anticipated to dominate the global market owing to high product variety of multiple vendors at competitive price range.
  • The small household appliances industry is thriving immensely through increased sales on e-Commerce platforms, owing to advantages such as ability to compare prices of products, brands, and product variety, and ability to read reviews of other consumers. The e-Commerce industry is reshaping the global retail market. Growing interest for online purchasing is driving the industry forward. The facility of product comparison of different vendors has led to higher online sales.

Download Complete TOC of this Report:
https://www.futuremarketinsights.com/toc/rep-gb-11610

Small Kitchen Appliances Sales are Gaining Traction Globally owing to High Product Awareness, and New Innovative Product Launches

Technology advancements, energy efficiency, cost, and quality of the products are major factors drive consumers’ purchasing preference. The advent of e-commerce industry and wide availability of different offline sales channel such as modern store (hypermarkets/supermarkets, specialty stores etc.) supports the industry from supply side. Growing health consciousness, increasing consumers with cooking as hobby, growing television programs and cooking recipes on YouTube and other online platforms push the consumers towards home food which is resulting as an increased demand for small kitchen appliances across the world.

“Integration of technology in kitchen appliance is not new, hence manufacturing are focusing on eco-sound materials, energy efficiency and easy recycling product materials which will have minimum impact on the environment. Compact & multi-feature appliances will be preferred in future. South Asia & Pacific could be the potential region in future for small kitchen appliances, hence manufacturers should focus on the same” says an FMI analyst.

Market to Recover As Soon As Economies Return to Normalcy Post Coronavirus

Covid-19 which originated in China has now spread all over the world. Except essential products and services, all businesses are temporarily closed. As per World Economic Forum, The US and Eurozone’s economies are expected to recover to its full swing until 2023. The small kitchen appliances market are also affected due to Covid-19 pandemic as production are temporarily suspended, physical stores are closed. Online platforms also face challenges in product delivery due to country lockdown, and low availability of stocks. However, initiatives taken by the respective country governments have checked the growth rate of people getting infected. This shows positive sign of normalcy in coming quarter for few countries such as China, India etc.

Region Value Share (2020)
North America 12.4%
Latin America 9.2%
Europe 19.8%
South Asia & Pacific 21.4%
East Asia 33.5%
Middle East & Africa 3.7%

Ask us your Any Queries About this Report:
https://www.futuremarketinsights.com/askus/rep-gb-11610

Who is winning?

Some of the key players operating in the Small Kitchen Appliances market are Whirlpool Corporation, Panasonic Corporation, Groupe SEB, Electrolux AB, BSH Hausgeräte GmbH, Haier Group, LG Electronics, Dongbu Daewoo Electronics, Samsung Electronics, Breville, Miele, Koninklijke Philips N.V., Conair Corporation and others.

Several leading foot care product players are launching new innovative products to expand their footprint and product portfolio. At present, manufacturers are focusing on R&D, merger & acquisition and partnership activities to come up with new technologies which can change the market landscape of Small Kitchen Appliances.

  • In Nov 2019, Caraway Home launched eco-friendly, non-toxic and non-stick materials cookware set.
  • In Sept. 2019, Philipps had launched Keurig K-Duo coffee machine in three variants.

Explore wide-ranging Coverage of FMI’s Consumer Product Market Insights Landscape

Anti-Pollution Skin Care Products Market –2021 Analysis and Review: Skin Care Products Market by Product Type – Sun Care Products, Moisturizers/Creams, Face Masks, Cleansers, Facial Scrubs & Toners, and Serums for 2021 – 2031

Cosmetics ODM – ‘Personalization’ Holds the Future – 2021 Analysis and Review: Cosmetics ODM Market by Product Type – Skin Care, Hair Care, Makeup, Body Care and Others for 2021 – 2031

Down and Feather Market -2021 Analysis and Review: Down and Feather Market by Product Type – Down and Feather for 2021 – 2031

Get Valuable Insights into Small Kitchen Appliances Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global small kitchen appliances market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The small kitchen appliances study reveals compelling insights on the small kitchen appliances market on the basis of product type (small cooking appliances, food preparation appliances, and beverage making appliances), price range (premium/high, economy/mass), end user (residential, commercial), and sales channel (wholesaler/ distributor, hypermarket/ supermarket, multi-brand stores, small independent stores, online and others) across all regions.

The post Small Kitchen Appliances Sales Spurs In Response to Rising Demand for Eco Friendly Appliances: Future Market Insights appeared first on Industry News Analsis.

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy