Boston, MA -- (ReleaseWire) -- 06/06/2014 -- In 2013, small cooking appliances continued with steady growth that started after the end of the recession, in parallel with growing consumer confidence in the country. In 2013, despite a decline in consumer confidence although still higher than during the recession, consumer demand for small cooking appliances was still strong. Mostly due to the functionality of these products in Turkish consumers' everyday lives, such as mini ovens and toasters, which are present in almost every middle-class kitchen in Turkey, demand is fairly steady for small cooking appliances. With the growing role of the kitchen in contemporary Turkish household life, as a result of an increase in the average size of a kitchen in newly-built Turkish homes and the increasing importance of the look of Turkish kitchens, those products that are intended for kitchen use are in steady demand. Moreover, with the increased visibility of the kitchen for both household members and visitors, Turkish consumers prefer aesthetically-pleasing products and better-known brands at the expense of paying more.
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Arcelik led small cooking appliances in 2013 with a 21% volume share. Despite its lack of products in some of the categories, such as slow cookers, rice cookers and coffee machines (except for Turkish coffee machines), Arcelik serves other categories within small cooking appliances with its brands Arcelik and Beko. Arcelik enjoys a high degree of brand awareness in the country, as well as an extensive network of dealers selling both major and small appliances. Arcelik also makes its small appliances available through different channels that are normally not employed for its major appliances, such as online retailing and hypermarkets, in order to compete with a large number of companies within small appliances.
Over the forecast period, volume sales of small domestic appliances are expected to grow at a CAGR of 8%, driven mostly by older product categories, such as breadmakers, electric grills, mini ovens and toasters. As small cooking appliances is one of the categories to host the largest number of novel products, Turkish consumers' established culinary habits restrict them from trying new products in this category. Both new products and higher-end versions of traditional products are expected to drive unit prices, and hence value sales, up. The low level of technology involved in these product categories enables small domestic manufacturers and brands to enter small cooking appliances, as well as cheap imports that help keep unit prices low.
Discover the latest market trends and uncover sources of future market growth for the Small Cooking Appliances industry in Turkey with research from Euromonitor's team of in-country analysts.
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