Stable growth year after year.
The global small appliances market reached $US65 billion in 2017, an increase of 8% on a constant currency basis, and according to GfK global director of small domestic appliances (SDA), Udo Jansen, further growth is expected in 2018.
“We estimate the minimum growth in 2018 for the global small appliances market will be 4%, but it can be up to 8% in some markets, but 4% is the lowest level of growth that we expect from this market category in 2018.”
Speaking at a recent IFA press conference in Rome, Jansen said growth is primarily being powered by innovation across a wide range of categories and new emerging categories.
“The global SDA market is driven by innovation and smart appliances, with new products and new markets that are designed to make the everyday life of consumers easier. Growth is not just coming from a few countries such as China, USA or Europe, it is really the majority of countries we track that are positive and this is very important,” he said. “And it is not just one product group there are a large number of growth engines.”
Jansen also identified ‘smart’ appliance categories as driving global growth and higher average selling prices. GfK claims fully automatic coffee machines grew 14% year-on-year to €1.4 billion in the 2017 calendar year.