Global kitchen appliances market has witnessed growth despite the economic slowdown across some of the major economies after the 2009 recession, Eurozone crisis. However, Chile has remained relatively immune to these challenges, but has experienced an economic stagnation of its own which affects a number of markets, including home and kitchen appliances.
The market for home appliances in Chile is, in large part driven by kitchen appliances. Chile’s economy is experiencing a stagnation in terms of growth, but is free of other economic burdens directly affecting purchase of appliances that plague Argentina and Brazil. Over 2014, kitchen appliances were seen to make a comeback as the economy recovered. Kitchen appliances include large appliances like refrigerators, dishwashers, microwaves and ovens, gas stoves, chimneys, and smaller appliances like juicers/mixers, coffee and tea makers, toasters, air fryers, and non-cooking small items like kettles, knives, scales, graters, etc.
The Chile market for kitchen appliances was worth US$ X.X bn as of 2014, and is expected to grow to US$ X.X bn by 2020, growing at a CAGR of X.X% over the forecast period. Small appliances are expected to grow at a CAGR of X.X% from US$ X.X bn in 2014 to US$ X.X bn in 2020. Large appliances are worth US$ X.X bn as of 2014, and are expected to grow at CAGR X% to US$ X.X bn in 2020.
Specialty super markets offering attractive discounts by leveraging economies of scale as well as tie ups with manufacturers through private label goods channels in combination with the trend of using store cards for purchases. These retailers are vying for market space with online retail, which is giving brick and mortar stores tough competition with attractive discounts and bundles online. Customers touch and feel the products in showrooms, but go online to buy products with higher discounts. Ecommerce, with its attractive discounts and tie ups with manufacturers is mutually beneficial for both.
The latest trend in home appliances, including kitchen appliances is that of energy efficiency, and connectivity in line with IoT (Internet of Things), wherein most appliances can be remotely controlled, or are equipped with sensors designed to auto manage the appliances. Smart appliances, as they are called, alone are expected to drive this category ahead to achieve higher growth rates. With new and other houses going through refurbishing, kitchen appliances can be chosen to fit the size of the kitchen. The appliances are equipped with frills, or are available without frills across several price ranges.
Some notable companies included in the report are Electrolux, GE, Panasonic, Samsung, Murphy Richards, Phillips, Bosch, Hamilton, and regional brand, Mabe, which is the market leader in Chile. International brands consolidated their presence across categories in kitchen appliances as brand awareness grew.
Attractive and aggressive marketing tactics across mass market and premium segments, incremental innovations across product classes, discount and credit schemes are some of the drivers of this market.
Stagnation of the economy, reduction in new/replacement product purchases, intense competition are some of the challenges of this market.
What the report offers
1. Research Methodology
2. Executive Summary
3. MARKET OVERVIEW
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's 5 Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat from new entrants
3.3.4 Threat from substitute products
3.3.5 Competitive rivalry within the industry
3.4 Industry Policies
4. MARKET DYNAMICS
4.2.1 Demand for appliances in End User Market
4.2.2 Changing Lifestyle
4.3.1 Lack Of Expertise
4.3.2 Dominance of Traditional Kitchen
4.4.2 Changing Consumer Behavior
5. Chile Kitchen Appliances Products Market Segmentation, Forecasts and Trends
5.1 By Products
5.1.1 Electric Steamers
5.1.2 Water Purifier
5.1.3 Micro Oven
5.1.5 Air Fryer
5.1.6 Induction Stoves
5.2 By Distribution Channel
5.2.1 Direct Selling
6. Vendor Market Share Analysis
7. Competitive Intelligence - Company Profiles
7.1.2 Products and Services
7.1.4 Key Developments
7.2 Murphy Richards
7.2.2 Products and Services
7.2.4 Key Developments
7.3.2 Products and Services
7.3.4 Key Developments
7.4.2 Products and Services
7.4.4 Key Developments
7.5.2 Products and Services
7.5.4 Key Developments
7.6.2 Products and Services
7.6.4 Key Developments
7.7.2 Products and Services
7.7.4 Key Developments
7.8 Eureka Forbes
7.8.2 Products and Services
7.8.4 Key Developments
7.9.2 Products and Services
7.9.4 Key Developments
7.10 LG Corp
7.10.2 Products and Services
7.10.4 Key Developments
8. Investment Analysis
8.1 Recent Mergers and Acquisitions
8.2 Investment Scenario and Opportunities
9. Future of Chile Kitchen Appliances Products Market
LIST OF TABLES