Global kitchen appliances market has witnessed growth despite the economic slowdown across some of the major economies after the 2009 recession and the Eurozone crisis. The market for home appliances in South Africa is, in large part driven by kitchen appliances. The South African kitchen appliances market is characterized by a recovering economy with inflationary and unemployment pressures decreasing, private label goods being beneficial both for the manufacturers as well as customers, and an increase in prices of electricity because of insufficient electricity generation, and finally, a growing upper income class interested in premium, value added products.
Kitchen appliances in South Africa 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 South Africa 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, especially the leading retailers, as well as brick and mortar store prices of small kitchen appliances compete with ecommerce sites, resulting in a fierce competition in distribution. Aggressive discounts through manufacturer tie ups and economies of scale, along with credit options for purchase also drive the market for store based retailers.
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, LG Electronics, Samsung, Murphy Richards, Phillips, Bosch, Hamilton, and a range of other regional manufacturers. US based manufacturers have a clear lead across several product categories including the premium product category, because of regular and value added product launches, while Asian manufacturers are engaged in establishing themselves in the mass market.
Increasing purchasing power, incremental innovations making the life of purchasers easier in the kitchen, interest in refurbishing kitchens in the house with appliances before other rooms, and some other factors drive this market in South Africa.
High level of competition across all product classes, insufficient innovations in the mass market product range, are some of the challenges being faced in South Africa’s kitchen appliances 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. South Africa 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 South Africa Kitchen Appliances Products Market
LIST OF TABLES