Boston, MA -- (ReleaseWire) -- 05/29/2014 -- Since the end of the recession in 2010, food preparation appliances has recorded both volume and current value growth. Despite a slowdown in volume growth, from 5% in 2012 to 4% in 2013, the category managed to register double-digit current value growth as a result of a consumer preference towards more-functional products with improved design characteristics. Volume sales were still driven by growth of sales of old and new homes, as many Turkish consumers prefer to buy small appliances as a housewarming gift for their friends and relatives. Moreover, in the new dwelling units sold, kitchens are more spacious than they used to be, offering a larger storage space as well as greater space on the counter. The redesign of the Turkish kitchen is also an important aspect of consumer preferences, as they prefer to purchase well-known brands and high-end food preparation appliances. This resulted in the average unit price of food preparation appliances growing by 10% in current terms in 2013.
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SEB-KUR Gida San led food preparation appliances in 2013 with a 16% volume share, up from 14% in the previous year, as the company offers a wide spectrum of products under three well-known brands: Tefal, Rowenta and Moulinex. The brands Rowenta and Moulinex in particular have come to be associated with food preparation appliances with their long-term presence in the country since the 1980s. SEB-KUR Gida San's brands have a strong reputation among Turkish consumers. Arzum Elektrikli Ev Aletleri San ve Tic, which specialises in small appliances, held a 14% volume share thanks to the widespread availability of its products throughout the country. Arcelik enjoys a positive reputation as the leading company in consumer appliances and recorded a 14% volume share in 2013.
The increasing interest from consumers in healthy lifestyles and their quest for more-sophisticated tastes is expected to help food preparation appliances to enjoy outstanding growth figures over the forecast period. Over this period, value sales of food preparation are expected to grow at a constant CAGR of 8%, while volume sales are set to grow at a CAGR of 5%. Purchases of new homes are also expected to drive volume sales, as Turkish households not only buy new home appliances when they are moving to new homes, but they also use this as an opportunity to replace existing ones. Moreover, food preparation appliances are often chosen as housewarming gifts for newlyweds and new homeowners by their relatives and close friends.
Discover the latest market trends and uncover sources of future market growth for the Food Preparation Appliances industry in Turkey with research from Euromonitor's team of in-country analysts.
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