In the past few decades, the home appliance industry was mainly driven by the supply side. Large single products such as color TVs, refrigerators, washing machines, air conditioners, etc. appeared for the first time. Brand-new home appliances have effectively improved the quality of life of residents and promoted wave-like development of the industry.
Since 2014, the category diversification of the home appliance industry has increased significantly, and small home appliances have been surging, and a large number of listed companies have quickly been bred. The home appliance industry is becoming "new" and "fast" driven by consumer demand.
Small household appliances refer to small household appliances except for color TVs, air conditioners, refrigerators, and washing machines. They mainly consist of small kitchen appliances, clean household appliances, personal care household appliances, and household household appliances. According to Statista data, the global scale in 2020 is approximately US$224.1 billion, or approximately RMB 1.46 trillion, accounting for approximately 37% of the overall home appliance industry, of which small kitchen appliances account for approximately 64%, and small clean appliances account for approximately 23%.