Before introducing the market situation of electric toothbrushes, we should first briefly understand the situation of the whole small household appliance market.
Small household appliances are all household appliances except those necessary for families, such as refrigerators, washing machines and air conditioners. Small household appliances are divided into kitchen small household appliances, household small household appliances and nursing small household appliances, among which electric toothbrushes belong to nursing small household appliances.
According to the consumption habits of Chinese residents, they always give priority to buying large household appliances, and then use the remaining consumption funds to buy small household appliances. With the continuous increase of per capita income in China, consumers have more consumption funds to buy a wide variety of small household appliances. On the one hand, with the increase of consumer income, more demand for consumption upgrading is generated. The demand for comfort and beauty of products is constantly increasing, and the demand for small household appliances is constantly increasing. On the other hand, stimulated by the expansion of market demand, small household appliance manufacturers are constantly improving product quality and promoting users' consumption upgrading.
Up to now, China's small household appliance market is still in the initial stage of development. The market has not yet been developed and has a considerable incremental market. According to foreign market data, when the per capita GDP exceeds 3,000 US dollars, the small household appliance market will enter a high-speed development stage. However, China's per capita GDP in 2008 had already exceeded 3,000 US dollars, while the per capita small household appliances were below 10, far lower than the level of 30 in European and American countries, there is still considerable room for development in China's small household appliance market. According to the statistics of prospective Industry Research Institute, the market scale of China's small household appliance industry was 401.5 billion yuan in 2019, and the CAGR was + 13.3% from 2012 to 2019. And it is predicted that the market scale will exceed 640 billion yuan in 2023, reaching 646 billion yuan.
Compared with small kitchen appliances and household appliances, the personal care appliance market has a lower penetration rate and a larger growth space in the future. At present, Chinese consumers are more inclined to buy small kitchen appliances, but with the consumption concept of consumers upgrading, individuals pay more and more attention to personal image, so "beauty economy" begins to develop rapidly, personal care consumption of small household appliances also increases. According to the data estimation, by 2020, the proportion of individual household appliances accounted for 17.8% of all small household appliances, and in 2025 it accounted for 20.6%. The scale of individual household appliances market is expected to reach 81.1 billion in 2020 and 172 billion in 2025, the CAGR will be 15% in the next five years.
According to Tao's data, the sales volume of electric toothbrushes in March 2020 was 0.49 billion yuan, up 38.8% from the previous month. The sales volume was 3.116 million pieces, up 48.9% from the previous month. However, compared with overseas markets, the penetration rate of China's electric toothbrushes still needs to be improved. Data show that the market penetration rate of China's electric toothbrushes in 2019 was 5%, far lower than that of the United States (42%) and Japan (40%). Assuming that the penetration rate of electric toothbrushes will increase to 15% in 10 years, the market scale of electric toothbrushes will exceed 25 billion yuan.
On the whole, the competition in the middle and low-end market of electric toothbrushes is fierce, and the high-end market is occupied by foreign brands. According to Tao's data, in the middle and low-end market of electric toothbrushes in the first quarter of 2020, the sales volume of 0-100 yuan and 100-300 yuan accounted for 48.6% and 32.8% respectively, providing 18.85% and 33.3% of the sales volume. The middle and high-end products with the price of 300-500 yuan contribute 16.8% of the sales volume and 37.1% of the sales volume. But the high-end market is occupied by overseas brands, contributing 1.77% of the sales volume and 11.1% of the sales volume in the high-end market of 500-1000 yuan and above 1000 yuan. However, the sales volume of Philips and OLAB accounts for up to 70.4% and 90.9%, basically monopolizing the high-end market of electric toothbrushes.
However, due to the low technical threshold of electric toothbrushes, various brands continue to join the scuffle. The structure of electric toothbrush consists of battery, motor, Shell and brush head. Its structure is simple and its technical threshold is low, thus attracting various brands to participate in the competition. At present, traditional and old electric toothbrush manufacturers such as Philips and OLAB are still in the leading position in the market, and traditional toothbrush brands such as Shuke and blacks and new domestic and foreign brands such as usmile, worms and Xiaomi also occupy a place, traditional household appliance enterprises such as Panasonic, bear and Xinbao also began to lay out in the field of electric toothbrushes, and the market competition was very fierce.
Domestic household appliance enterprises are also entering the field of electric toothbrushes one after another and are expected to catch up quickly in the future. In recent years, Xiong, Xinbao and other enterprises have entered the field of electric toothbrushes. Feike expects to launch new electric toothbrushes this year. Although domestic household electrical appliance enterprises made a late effort in the field of electric toothbrushes, they have advantages in research and development, production and brand strength, and are expected to achieve rapid growth in the future.
From electric toothbrushes to small electric appliances, the market expansion is worth looking forward. Electric toothbrushes and hair salons are the representatives of small electric appliances, which are in the growing stage and are constantly increasing under the stimulation of new products. In addition, electric toothbrushes are expected to become the standard for personal care, sinking into just-needed products, and the demand is gradually rising. It is worth looking forward.
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