Boston, MA -- (ReleaseWire) -- 06/09/2014 -- With the exception of cookers, with penetration rates of 92%, few large cooking appliances were to be found in Ukrainian kitchens in 2013. New house completions slowed down during the global economic crisis and consumer incomes remained too low to allow purchases of non-essentials. As a result, large cooking appliances? potential was unrealised and retail volume sales declined by 2% to 1.2 million units.
Large cooking appliances is comparatively fragmented due to the number of products types involved. Leading player Gorenje TOV accounted for 18% of retail volume sales in 2013 due to its diverse range of large consumer appliances. In 2013, the company was one of the most successful players with the biggest gain in share posted (+1%) since had an appeal with reliability and quality of its large cooking appliances with designer features at place.
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In future, growth in large cooking appliances will be largely concomitant with economic developments in the country. Provided the economy continues to stabilise, consumer incomes are expected to rise and allow Ukrainians to consider replacements and new purchases of large consumer appliances. Large cooking appliances is expected to register a CAGR of 2% in retail volume terms over the forecast period.
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The Large Cooking Appliances in Ukraine market research report includes:
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