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NEW YORK -- Driven by such factors as an upsurge in home remodeling and renewed interest in home coffee and tea brewing, small kitchen appliances have enjoyed steady growth, and according to a new report, the market is pegged to top $2.7 billion in 2010.
The report, "Small Kitchen Appliances in the U.S.," Specialists in Business Information (SBI), a division of MarketResearch.com here, found that the market supply for small kitchen appliances, valued at nearly $2.5 billion in 2005, has remained fairly stable since 2001. The market mainly relies on low-priced imports, which have been increasing steadily since 2001 to make up over half of the 2005 supply in terms of value.
Electromechanical appliances, among them blenders, mixers, food processors, and juice extractors, accounted for almost two-thirds of the value of small kitchen appliance imports in 2005.
Automatic drip coffee makers, however, remain the No. 1 small kitchen appliance bought annually by U.S. households, with toasters and slow cookers also in the top five.
"Manufacturers of small appliances have been quick to respond to consumer demands for better-looking appliances with enhanced functionality," said SBI managing editor Tatjana Meerman. "Today's time-crunched home-owner is willing to spend more on appliances to match their new or remodeled homes. This has impacted the market greatly and will continue to be a positive growth factor for the next several years."
SBI publishes research reports in the industrial, construction, materials, and consumer goods markets.