The small kitchen appliance market is showing signs of saturation, particularly in the food preparation sector, which saw a 3% decline in the first half of the year. This trend is a ripple effect from the post-pandemic purchase spree. Despite this, the beverage category is thriving, bolstered by summer activities and sporting events. Coffee machines have experienced 5% growth, while soda makers surged by 9% during the same period.

Air fryers, which have enjoyed strong growth over the past four years, are now facing saturation with a 4% decline in value. However, the continued volume growth points to increased price competition. Notably, hot air fryers dominate the market, accounting for 95% of total fryers sold. The trend is shifting towards larger capacity models, especially those with single basket flexible partitions or multi-basket configurations. These newer models are steadily replacing the declining first-generation single-basket air fryers.

Built-in ovens and hobs are experiencing a tough period due to economic challenges like high interest rates and raw material costs. However, demand for innovative features remains strong, driving hobs with integrated ventilation (hoods) to record highs. They captured a market share of 17.0% this year, up from 15.9% last year.

The most significant opportunity lies in the smart cooking sector, including smart cookers, ovens, hobs, and hoods, which has already grown by 21% in the first half of this year. There is immense potential here—these appliances account for only 12% of the market, well below the average of 29% for smart major domestic appliances. With the rise of AIoT (Artificial Intelligence of Things), there’s ample room to enhance the cooking experience with AI, voice communication and displays, resulting in more rewarding and appreciated culinary outcomes.

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