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Kitchen Small Electronic Appliances Market Size
The global Kitchen Small Electronic Appliances market was valued at USD 76.1 Bn in 2023 and is estimated to grow at a CAGR of over 5.1% from 2024 to 2032. The small kitchen electronic appliances market is projected to experience substantial growth, driven by technological advancements, shifting consumer behaviors, and a heightened focus on health and convenience.
Manufacturers are continuously innovating to meet these market demands, resulting in an evolving landscape that caters to diverse consumer needs and preferences. According to the U.S. Bureau of Economic Analysis, consumer spending on durable goods, including kitchen appliances, increased by 6.8% in 2023, reflecting the growing demand for these products.
What is the size of the residential segment in the market?
The residential segment held around 74% of the total market share in 2023 and is anticipated to grow at a CAGR of 5.2% during the forecast period, fueled by the trend of cooking as a leisure activity.
How big is the kitchen small electronic appliances market?
The kitchen small electronic appliances industry was valued at USD 76.1 billion in 2023 and is estimated to grow at a 5.1% CAGR from 2024 to 2032, driven by technological advancements and shifting consumer behaviors.
How dominant is the U.S. in the North America kitchen small electronic appliances market?
U.S. dominates with an overall market share of around 80% in the North America market, driven by the adoption of smart kitchen appliances integrated with IoT and AI.
Who are some of the prominent players in the kitchen small electronic appliances industry?
Key players in the sector include Bajaj Electricals Ltd., Breville, Daewoo Electronics, Electrolux AB, Haier Group Corporation, Havells India Ltd., Koninklijke Philips N.V., LG Corporation, Morphy Richards, Panasonic Group, and Robert Bosch GmbH.