After falling for two years, Asia Pacific sales of small appliances recorded positive, albeit very modest, growth in 2022, with the dynamic Indian market helping to offset the continued declines being seen in China and Japan. Stronger growth rates are expected over the forecast period, with Asia Pacific consumers looking for devices that offer them convenience and, where possible, multifunctionality. Smart and connected devices are also expected to enjoy increasing demand in the coming years.
This report comes in PPT.
After two years of decline, sales of small appliances were stagnating in 2022. While India recorded strong growth, and most other countries were seeing sales increases, both China and Japan continued to record falling sales in 2022. While both countries are seeing a fair degree of maturity in a number of small appliance product areas, China was also battling Omicron outbreaks in 2022, while many fmcg are being impacted by Japan’s shrinking population.
Automation, smartness and connectivity will continue to be drivers of replacement upgrades and emerging categories in China, as these functionalities become more prevalent and more affordable. Vacuum cleaners that offer advanced self-cleaning capacity that minimises the amount of human intervention and air conditioners that feature fresh-air technologies and voice-control assistance are examples of such developments.
While appliances and electronics specialists is still the leading distribution channel for small appliances in many Asia Pacific countries, e-commerce, which continues to gain share, has overtaken it at a regional level, with a 44% share. This is being driven by the strength of e-commerce in China, where it now holds a 59% share (versus 25% for appliances and electronics specialists), with China by far the biggest country market for small appliances in Asia Pacific.
China is expected to see modest, but positive, growth over the forecast period, with India being the main driver of the region’s performance, with a much more dynamic CAGR expected here, with sales being boosted by the low penetration rates of many products, rising disposable incomes, wider product availability and the desire for convenience. However, Japan, with its shrinking population, is expected to see stagnating sales of small appliances.
Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.
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