From 2013 to 2016, the sales of small home appliances in non-store retailing in Canada showed a steady increase, peaking in 2016. However, starting in 2017, the market experienced a significant downturn followed by mild fluctuations. The year-on-year variation indicated a peak positive growth rate of 7.16% in 2021, while the lowest growth rate was a significant decline of 13.47% in 2017. Despite some recovery in 2021, the market faced a slight decline afterwards, stabilizing around the lower 220 million CAD range by 2023.
In 2023, the sales value stood at 223.78 million CAD. The compound annual growth rate (CAGR) from 2018 to 2023 was -0.2%, reflecting a subtle decline. Going forward, the forecasted CAGR from 2024 to 2028 is -0.16%, indicating a continued but gradual shrinkage in sales, leading to a forecasted value of 221.8 million CAD in 2028.
Future trends to watch for include the influence of e-commerce expansion, technological advancements in smart home appliances, and evolving consumer preferences towards energy-efficient and sustainable products. Market dynamics may also be shaped by economic conditions and shifts in consumer behavior post-pandemic.
