New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
[USPRwire, Tue Aug 05 2014] In 2013, small cooking appliances grew by 4% in terms of volume and by 6% in terms of value. Compared to 2012, small cooking appliances registered stronger volume and value growth. It was thanks to the trend of consumers trading up to more modern and expensive products with additional functions and features. However, this is a remarkable deceleration in comparison with the review period volume CAGR of 10% and the current value CAGR of 11%. The maturity of major products such as rice cookers and mini ovens significantly affected the whole category in a negative manner. In addition, most cooking appliances have a long replacement cycle which partially contributed to slowing down the category's growth towards the end of the review period. Consumers who already bought small cooking appliances during the review period are not expected to buy new ones that early.
Sharp Electronics led small cooking appliances with 21% volume share, followed by Rinnai Vietnam with 11% and Goldsun JSC with 10%. The long-established presence and operations in Vietnam make Sharp one of the most prestigious home appliance brands in Vietnam. The fact largely contributes to its success in small cooking appliances.
Industry Prospects
Small cooking appliances is expected to grow by a volume CAGR of 3% and a constant value CAGR of -4%. Despite its predicted decelerating trend, its volume is expected to continue growing in contrast to its shrinking value growth. The main reason is because of the lower forecast inflation rate due to lower raw materials and transportation costs in addition to the emerging trend of small cooking appliances at lower to mid-priced segments over the forecast period.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Small Cooking Appliances industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Small Cooking Appliances industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Small Cooking Appliances in Vietnam market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
