World Market for Small Appliances

March 2024

In 2023, small appliances saw growth, as consumers replaced their small appliances purchased during the pandemic, especially as many continue to adopt hybrid or remote working. The industry has strong growth prospects over the forecast period, with trends such as smart home and AI-enabled features enhancing consumers’ experience at home. Furthermore, manufacturers are going beyond just selling products by providing continuous service options throughout the appliance’s life cycle.

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This report comes in PPT.

Key findings

AI coffee machines take customisation to the next level

AI took over CES2024, becoming a priority for manufacturers with products such as air conditioner, coffee machine, and robotic vacuum cleaners utilising the technology to enhance user experience. Midea’s Barista Brew utilises AI technology to personalise recommend combinations of brews and coffee beans, while gaining feedback from consumers to understand which flavour profile fits each user’s taste buds.

Design and AI personalisation of air treatment products

Young and tech savvy consumers are increasingly looking for personalised product design, with a significant focus on aesthetics. Midea’s Penrose Air and Samsung Bespoke Air Conditioner are at the forefront of this, allowing consumers to choose their preferred colour panel to fit their home design. At the same time, AI features in air conditioner help personalise consumers’ home experience by adjusting temperature based on the room conditions.

Summer heatwaves to fuel surge in demand for air conditioners and heat pumps

The UN predicts that heatwaves will continue breaking records over the coming years. To cope with the heatwaves and increasing surface temperatures, consumers will be forced to look for long-term cooling solutions. Consumers in Western countries are looking to install heat pumps, especially with governments heavily subsidising installation costs. Meanwhile, consumers in tropical countries will considering installing more or better air conditioners.

The rise of smart cooking machines marks a shift towards “servitisation”

Small appliances manufacturers have opportunities for partnerships with various industries in order to go beyond selling products, and focus on offering services for continued consumer engagement, driving business models towards “servitisation”. Tineco’s smart cooking machine, for example, allows consumers to order food ingredients from its mobile application based on a recipe, and the machine can then cook the food itself.

Innovation in budget-friendly cooking appliances reflects growing demand for affordable premium appliances

With growing awareness of how new technology can help save time, improve health and enhance the home experience, consumers are looking to upgrade their small appliances. However, price can be a barrier to entry for many, leading manufacturers to release more affordable products. Given the high unit price of Thermomix, for example, recent products from Tineco, Midea, Tokit and Cecotec offer similar functions at significantly lower prices.

Examining five trends shaping small appliances
The industry saw only moderate growth in 2023, due to low consumer confidence
Asia Pacific to continue experiencing strong growth in small appliances
Personal care appliances benefit from more affordable products
Retail e-commerce now offers similar or better benefits to physical stores
India and Brazil show substantial growth potential
Top manufacturers sees increased competition from e-commerce brands
Midea Group looks to expand beyond China, as it faces strong competition
Expansion to new product categories is key for growth
Whirlpool shifts its focus towards small appliances
SharkNinja continues to expand its presence in Europe
Examining five trends shaping small appliances
1. IoT, AI and automation are top priority for electronics and appliances manufacturers
1. Case study: Barista Brew by Midea to enhance the coffee experience through AI
1. Case study: Ecovacs’ AINA model handles complex scenarios in home cleaning
1. Case study: LG’s Whinsen Objet AC incorporates AI motion sensor for maximum comfort
2. Personalisation of small appliances designs and features continue to gain traction
2. Case study: Midea and Samsung allows consumer to customise colour panel
2. Case study: Dupray Bloom Air Purifier blends into consumer’s home
3. Summer heatwaves to fuel surge in demand for air conditioners and heat pumps
3. Case study: Bosch’s IDS Ultra Heat Pump to work in colder climates
4. Continued consumer engagement through “servitisation” is key for growth
4. Case study: Tineco Smart Cooking Machine automate cooking process for busy consumers
4. Case study: Panasonic Japan offers home appliances plus food subscription
4. Case study: Tovala’s Smart Oven Air Fryer has scan-to-cook tech for quick meal-making
5. Affordable premium appliances lower entry barriers for middle-income households
5. Case study: Cecotec Mambo Touch Kitchen Robot brings affordability in automation
5. Case study: Yeedi Cube robot vacuum offers premium features at half the price
Global snapshot of air treatment products
Global snapshot of food preparation appliances
Global snapshot of heating appliances
Global snapshot of irons
Global snapshot of personal care appliances
Global snapshot of small cooking appliances
Global snapshot of vacuum cleaners
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia

Consumer Appliances

Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.

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