Domestic Appliance Market Regional Landscape, Growth Opportunities, and Current Trends, 2021
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.
(firmenpresse) - 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.
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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consumer-electronics-industry
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Datum: 02.04.2020 - 09:58 Uhr
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Date of sending: 02.04.2020
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