SINGAPORE--(BUSINESS WIRE)--Market Research Company Euromonitor International released today new consumer appliances research for 2014.
According to the findings, small appliances volume sales will surpass major appliances and grow by 22% globally by 2019. Global consumer interest is turning towards small appliances such as air treatment, cooking appliances and vacuum cleaners, which reflects the huge demands for health care and life enhancing products. More than half of global sales of these products are coming from China, followed by France, Japan and Turkey.
Light fryers which use a tiny amount of oil to fry food, have been the best performing appliances among consumers in 2014, growing by more than 20% globally in volume terms.
“With obesity rate on the rise worldwide, light fryers are expected to grow in forecasted years,” says Head of Consumer Appliances at Euromonitor, Jamie Ko. “Philips and Groupe, SEB are dominant within the market with more than 70% share globally in 2014. As manufacturers look into products related to health care, there will be more products with related functions and features launched over the next few years.”
Major appliance sales have been fluctuating due to the economic recession. However, a few bright spots exist with the dishwasher category in particular showing high growth of 14% within Latin America in 2014. Brazil is predicted to be the fastest growing market for dishwashers, posting volume CAGR of 21% from 2014-2019. Local manufacturers of large appliances in Brazil such as Esmaltec and Suggar could potentially enter the dishwasher category and launch their own portfolios targeting the middle-income group with lower unit prices than are currently available.
About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
