Boston, MA -- (ReleaseWire) -- 07/10/2014 -- Kettles continued to hold the largest value share of 97% in overall small kitchen appliances (non-cooking) in 2013. Kettles also recorded the highest value and volume growth in 2013 overall. This is due to being used more frequently in each household, making it a necessary consumer appliance. Kettles tends to be used for boiling water with various purposes; to prepare for instant packaged foods, to prepare powder milk for babies, and to sanitise. In addition, since demand for instant coffee and tea is huge in South Korea, the kettle is deemed an essential product for households that consume such hot drinks.
Multinational manufacturers dominate small kitchen appliances (non-cooking). Groupe SEB Korea Ltd and Philips Korea Ltd are the two top leading companies, with combined volume share of 65% in 2013. Their high presence in kettles contributed to this domination due to the high volume share held by kettles in overall small kitchen appliances.
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Small kitchen appliances (non-cooking) will continue to rely on kettles. The volume and value size of kettles compared to that of total small kitchen appliances will remain above 97% over the forecast period. Kettles may face a threat as water dispensers' rental market continues to grow. If renting 'water dispenser with hot water' experiences huge growth unexpectedly, kettles sales will be affected. Since the rental price difference between cold water only-water dispenser and hot water combined model is not very significant, kettles has a considerable chance of being threatened by the rental market over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Small Kitchen Appliances (Non-Cooking) industry in South Korea with research from Euromonitor's team of in-country analysts.
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The Small Kitchen Appliances (Non-Cooking) in South Korea 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:
- What is the market size of Small Kitchen Appliances (Non-Cooking) in South Korea?
- What are the major brands in South Korea?
- Has the recession impacted performance in small kitchen appliances insdustry?
- Are coffee mills growing in line with coffee machine consumption?
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Product coverage: Coffee Mills, Kettles, Other Small Kitchen Appliances (Non-Cooking).
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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