10th
December 2018 - Global
Domestic Appliance Market is expected to grow at a significant CAGR in the
upcoming period as the scope and its applications are rising enormously across
the globe. Domestic Appliances are the equipment’s like refrigerator, washing
machine, and food processor exclusively used at home. This machinery helps to
simplify daily housekeeping tasks like food preservation, cooking, and laundry.
These appliances use fuel or electricity.
Rising need of the comfort, convenient lifestyle, continuous
technological innovation are documented as the major factors estimated to
enhance the growth in the years to come. Domestic Appliance Market is segmented
based on application, distribution channel, and region.
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The market may be categorized based on application like mixers, blenders,
citrus pressers, food processors, grinders and choppers, juice extractors, and
others. “Juice extractor” sector accounted for the substantial market share of
Domestic Appliance in terms of revenue and is estimated to lead the overall
market in future. This may be because of rising concern among consumers
regarding healthy lifestyle. In addition, “grinders and blenders” sector is
estimated to grow at the fastest pace in the near future.
Domestic appliances are available at several distribution channels like
online retail stores, supermarket & hypermarket, franchise outlet, and
electronic retail outlets. “Supermarket & hypermarket” sector accounted for
the significant market share of Domestic Appliance and is estimated to lead the
overall market in the years to come. Online retail stores follow the sector.
This may be because of availability of products at lower cost or discounted
cost and is convenient for customers.
Globally, North America accounted for the substantial market share of
Domestic Appliance and is estimated to lead the overall market in the years to
come. The United States and Canada are the major consumers of Domestic
Appliance in this region. This may be because of influence of cooking shows and
growing home cooking trend.
Europe and the Asia Pacific are estimated to have a positive influence on
the future growth. Europe is the second largest region with significant market
share. However, Asia Pacific is estimated to grow at the highest CAGR in the
foremost period. The developing countries like India and China are the major
consumers of Domestic Appliance in this region. Japan is estimated to grow at
the fastest pace, due to increasing popularity of cooking classes.
The key players of Domestic Appliance Market are Breville Group Ltd.,
Bajaj Electricals Ltd., Whirlpool Corp., Koninklijke Philips N.V., Joyoung Co
Ltd, Groupe SEB, De’Longhi UK Ltd., Sunbeam Mexicana S.A. de CV, and Kenwood
Ltd. These players are concentrating on inorganic growth to sustain themselves
amidst fierce competition.
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