Boston, MA -- (ReleaseWire) -- 06/05/2014 -- Food preparation appliances are a popular gift purchase for tourists in Saudi Arabia, with these products being offered tax-free and thus often at considerably lower prices in comparison to similar products in their home countries. Ongoing expansion in the number of shopping malls and electronics and appliance specialist retailers in Saudi Arabia also encouraged more tourists to shop for these products as gifts. Food preparation appliances thus benefited from a rise in religious tourism in Saudi Arabia at the end of the review period, which was in turn boosted by increased government investment in tourist infrastructure.
United Yousef M Naghi was the leading player in food preparation appliances throughout the review period and in 2013 accounted for a steady 20% retail volume share. This is due to the player representing the Philips brand in Saudi Arabia, with this brand enjoying a strong reputation for quality and offering a wide product range with an extensive distribution presence. Philips was the leading brand in hand blenders, food processors, juice extractors and mixers at the end of the review period and had a top five position in every product area in food preparation appliances.
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New product development will continue to focus on meeting changing consumer demands during the forecast period. With many households being small and many consumers finding the growing multifunctionality offered by food preparation appliances somewhat daunting, the Kenwood Prospero Kitchen Machine was launched in March 2014 with a compact and simple positioning. Marketing for this launch however also insisted that the appliance offers a wide range of functions, high quality and durability. This product is thus well-positioned to appeal to young Saudis moving into their first homes as the country's housing shortage eases.
Discover the latest market trends and uncover sources of future market growth for the Food Preparation Appliances industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.
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The Food Preparation Appliances in Saudi Arabia 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
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