- Small kitchen appliances are portable or semi-portable machines generally used to accomplish several kitchen tasks. Microwaves, ovens, toasters, and coffeemakers, among others, are a few types of small kitchen appliances. Small kitchen appliance manufacturers are expanding their product portfolio, owing to the increase in demand from end-users. Manufacturers are also incorporating connected technologies in their products to save time. Some of the latest technologies being used are Wi-Fi, cameras, touchscreens, and other upgrades.
Rise in disposable income and convenience in usage of compact kitchen appliances drives the small kitchen appliances market
- Prime reason for the growth of the small kitchen appliances market in increase in disposable income of consumers worldwide. Rise in disposable income drives consumer needs. Innovation in product design has resulted in increased operational efficiency of small kitchen appliances. Thus, the demand for small kitchen appliances is expected to grow during the forecast period.
- Convenience in usage of compact kitchen appliances, owing to ease in handling and maintenance is fueling the growth of the small kitchen appliances market. Rise in the number of millennials using kitchen appliances with compact designs and multiple functionalities is anticipate to drive the small kitchen appliances market.
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North America & Europe covers major market of small kitchen appliances
- Geographically, the global small kitchen appliances market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the small kitchen appliances market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the small kitchen appliances market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America small kitchen appliances market is segmented into Brazil, and Rest of South America.
- North America and Europe dominates the market of small kitchen appliances, due to easy availability of smart technology enabled small kitchen appliances in North America and Europe.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising in awareness and standard of living in countries such as China, India, and Japan etc. is projected to drive the market in the Asia Pacific region.
Key players operating in the small kitchen appliances market:
The small kitchen appliances market is highly fragmented with presence of several key global players. Major players are projected to face tough competition in the coming years. Brands are likely to focus on innovation of new products and research & development activities to strengthen their footprint in the global small kitchen appliances market. Companies are engaging in mergers and acquisitions and joint ventures with local brands to expand their product portfolio.