Market Size of Asia-Pacific Small Home Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Small Home Appliances Market Analysis
Small Appliances market in Asia- Pacific region is showing growth in terms of volume sales and is projected to grow in coming years. The main factors driving the growth of small appliances are disposable incomes, urban lifestyles, and health trends. Small Appliances are important as they are used for daily household tasks in the homes and consumers in the market are willing to spend on them. There is a demand for light fryers, bread makers, food processors, and other healthy multi-functional small appliances products that are benefitting from the aging population in the region. India and Southeast Asia countries will be the top key markets driving the growth of small appliances. Asia -Pacific market is also witnessing the rise in the distribution in the sale of air-purifiers.
Due to COVID-19, numerous manufacturing facilities either operated with a reduced staff or were shut down in 2020. They also faced challenges in terms of disrupted raw material and component supply chains. The pandemic resulted in delays and disruptions in supply chains, product releases, events, and other related industrial activitiesn owing to which the market witnessed a decline in 2020.
However, built-in appliances and smart appliances such as built-in hobs would gain traction in the market in upcomig years. Changing consumer preferences and innovative credit schemes along with the replacement sales pave the way for smarter appliances to replace the conventional devices and this is going to stimulate the growth of the market.
