High-End Products to Boost Value Increases for Small Kitchen Appliance Demand

CLEVELAND, Feb. 25, 2021 /PRNewswire/ -- US demand for small household kitchen appliances is forecast to increase 1.6% annually in nominal terms through 2024, according to Small Kitchen Appliances: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from growth in disposable personal income levels and the number of households, as well as the ongoing interest in high-end products, including appliances that can connect to the internet, smart home hubs, and virtual assistants. In addition, the ongoing transition of two large demographic groups – millennials and baby boomers – into new life stages – family creation and retirement, respectively – is expected to bolster demand for small kitchen appliances as these groups purchase devices that better suit the needs of their new lifestyles. Despite these positive trends, high levels of market saturation for many items and penetration by low-cost products imported from China and Mexico will restrain advances. However, the ongoing US-China trade war has negatively impacted manufacturers and consumers since 2018 and is likely to do so over much of the forecast period. A duty up to 40% has been placed on many small kitchen appliances, including coffee makers, food grinders, and toasters. As a result, manufacturers have seen costs rise, often requiring a retail price increase.

In 2020, demand grew 9.9% as the ongoing COVID-19 pandemic encouraged homebound consumers to invest in high-value kitchen appliances to make their home lives easier and more enjoyable. Shipments increased 9.0% in 2020, as manufacturers worked to meet rising demand.

These and other key insights are featured in Small Kitchen Appliances: United States. This report provides an estimate of 2020 and forecast to 2024 for US small kitchen appliance demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:

• coffee and tea makers
• mixers and blenders
• toaster ovens
• small cooking appliances, such as electric griddles, grills, hot plates, rice cookers, roasters, and sandwich makers
• grinders and processors
• toasters
• juicers
• other small kitchen appliances such as bread makers, electric can openers, slow cookers (or crock pots), and pressure cookers, as well as parts

To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009 to 2019.

The scope of this report includes household-type electric small kitchen appliances. Manual products are excluded (e.g., manual grinders). In addition, standalone air fryers, home ice cream makers, home soda makers, microwaves, and vacuum sealers are excluded from the scope of this report. Appliances designed for commercial or industrial use are also excluded. Re-exports of small kitchen appliances are excluded from demand and trade figures.

More information about the report is available at:
https://www.freedoniafocusreports.com/Small-Kitchen-Appliances-United-States-FF90029/?progid=91541 

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

• total historical market size and industry output
• segmentation by products and markets
• identification of market drivers, constraints, and key indicators
• segment-by-segment outlook in five-year forecasts
• a survey of the supply base
• suggested resources for further study

Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected] 

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SOURCE The Freedonia Group