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Global Small Household Appliances Market (2020 to 2024)

The global small household appliances market is forecasted to reach US$159.49 billion in 2024, growing from US$115.30 billion in 2020.

The market is predicted to grow at a CAGR of 8.45% during the period spanning 2020-2024. The growth in the global small household appliances market was driven by various factors like increasing global population, surging GDP per capita, rising internet penetration, increasing smartphone users and upsurge in the working population. The market growth is predicted to be driven by various market trends like rising global urban population, growing adoption of the internet of things (IoT) and evolving consumer needs & lifestyle. The market is expected to face privacy threats which are likely to hamper the market growth.

The global small household appliances market has been segmented into the following regions: the US, China and Rest of World. In 2019, the dominant share of the market was held by the US segment, followed by China. The US small household appliances market by product category can be segmented as follows: personal care, home environment, cooking and food preparation. The dominant share of the market in 2019 was held by the personal care segment, followed by the home environment segment, cooking and food preparation, respectively. China small household appliances market by product category can be segmented into the following four segments: cooking, home environment, food preparation and personal care. In 2019, the highest share of the China market was held by the cooking segment, followed by home environment, food preparation and personal care, respectively.

From:https://apnews.com/press-release/business-wire/business-household-product-manufacturing-asia-consumer-products-and-services-greater-china-649f31b061b44425a24b7fa0259180cb

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