China Business Intelligence Network News: Small household appliances refer to small household appliances with very low power consumption and high output power, aiming to improve the quality of life. Small appliances are an integral part of modern life, providing convenience and efficiency in all aspects of daily life. According to the "2024-2029 China Small Household Appliance Industry Analysis and Development Trend Forecast Research Report" released by the China Commercial Industry Research Institute, driven by scientific and technological progress, increased consumer demand for energy-saving products and the rise of smart home solutions, the global small household appliance industry has experienced steady growth in recent years, with the market size increasing from US$150.8 billion in 2019 to US$175.9 billion in 2023, with a compound annual growth rate of 3.9%. Analysts at the China Business Industry Research Institute predict that the global small household appliance market will reach $184 billion in 2024.
Data source: Frost & Sullivan, China Business Industry Research Institute
From a domestic point of view, in 2023, among the various categories of small household appliances in China, the output of rice cookers, vacuum cleaners, electric baking, hot and cold water dispensers, electric fans, microwave ovens and other products will increase to varying degrees, among which hot and cold water dispensers will perform the best, with a cumulative growth rate of more than 10%, and the output growth rate of other products will be in single digits.
Data source: Industry Online, compiled by China Business Industry Research Institute
From the perspective of sales volume, the consumer demand for small household appliances in mainland China will show obvious differentiation in 2023, for categories such as rice cookers and electric pressure cookers with core rigid demand, consumer demand will increase to quality, and the average price of the industry will increase significantly, while for non-quality categories, consumers are generally willing to buy products with high cost performance. In general, the consumption of small household appliances in the mainland has gradually become rationalized. According to the "2024-2029 Supply and Demand Pattern Analysis and Investment Risk Prediction Report of China's Small Household Appliances Industry" released by the China Commercial Industry Research Institute, the overall retail volume of small kitchen appliances in China will reach 265 million units in 2023, with a retail sales of 54.93 billion yuan. Analysts at the China Business Industry Research Institute predict that the retail volume and retail sales of small kitchen appliances in China will reach 275 million units and 56.05 billion yuan in 2024, respectively.
Data source: Aowei cloud network, China Commercial Industry Research Institute
Cleaning appliances is an important branch of small household appliances that focuses on solving household cleaning problems. With the improvement of people's living standards and the pursuit of quality of life, the popularity of cleaning appliances in the family is getting higher and higher, and it has become an indispensable household item for modern families. According to the "2024-2029 Supply and Demand Pattern Analysis and Investment Risk Forecast Report of China's Small Household Appliance Industry" released by the China Business Industry Research Institute, the retail volume of clean electrical appliances in China will be 25.34 million units in 2023, a year-on-year decrease of 0.5%; retail sales were 34.4 billion yuan, a year-on-year increase of 6.8%. Analysts at the China Business Industry Research Institute predict that the retail volume and retail sales of clean electrical appliances in China will reach 26.31 million units and 38.6 billion yuan in 2024, respectively.
Personal care small household appliances have the characteristics of strong practicality, high repurchase rate and low unit price, which are suitable for sales in emerging channels, and the retail sales of China's personal care small household appliances market have grown rapidly in recent years. According to the "2024-2029 Supply and Demand Pattern Analysis and Investment Risk Forecast Report of China's Small Household Appliance Industry" released by the China Commercial Industry Research Institute, the retail sales of small personal care household appliances, including hair dryers, electric toothbrushes, and electric shavers, will reach 24.01 billion yuan in 2023, an increase of 15.99% over the previous year. Analysts at the China Business Industry Research Institute predict that the retail sales of China's personal care small household appliances market will increase to 25.59 billion yuan in 2024.
For more information, please refer to the "Research Report on the Market Prospect and Investment Opportunities of China's Small Household Appliance Industry" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, business plans, feasibility study reports, park industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meetings and other consulting services.