Market Size of Russia Kitchen Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.80 Billion |
| Market Size (2029) | USD 8.83 Billion |
| CAGR (2024 - 2029) | 5.38 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Russia Kitchen Appliances Market Analysis
The Russia Kitchen Appliances Market size is estimated at USD 6.80 billion in 2024, and is expected to reach USD 8.83 billion by 2029, growing at a CAGR of 5.38% during the forecast period (2024-2029).
Dishwashing machines, cooking, and ovens generated USD 0.45 (0.33) billion in revenue in Russia in the current year. The Russian kitchen appliances market is growing reasonably well with stable demand due to rising consumer growth and the ongoing issuing of consumer credit in 2020. People are mostly unwilling to pay the extra amount for a well-known global brand name in small cooking appliances, opting instead for smaller brands at more affordable prices, with this category being highly influenced by price rather than quality.
Because of this, brands from small economies have done better than international heavyweights. For example, Philips, Bosch (though it did well with coffee machines), and Moulinex have either lost market share or stayed the same. Coffee machines are the segment in which the global brands continued to perform quite well due to their higher perception amongst many affluent consumers. The De'Longhi maintained its leading position in this category, strengthening it.They continued to see growth, with espresso coffee machines showing the strongest retail volume growth, then filter coffee machines.
The introduction of COVID-19 resulted in a decrease in kitchen appliance revenue. In the year 2020, all segments of refrigerators, dishwashers, cooking & ovens, and freezers saw a decrease in sales and revenue. From 2021 on, with recovery from the pandemic, sales and revenue again started increasing. Interestingly, espresso coffee machines have a much higher average unit price than filter or pod coffee machines, with the latter two also continuing to decline in price. Polarizing trends continue to impact the demand for kitchen appliances in Russia in 2023.
Uncertainty about the lower real incomes of most average households has led to a constant search for more affordable products. Demand for economy appliances has led to falling unit prices in many categories, including dishwashers, food preparation appliances, and others.
