Small Cooking Appliances in South Korea - New Market Research Report

From: Fast Market Research, Inc.
Published: Thu Jul 10 2014

Healthy growth of small cooking appliances was mostly driven by pod coffee machines and light fryers. Hard pods witnessed current value growth of 24% and light fryers 52% in 2013. Hard pods is sharply increasing as the merit of enjoying coffee at home at a cheaper price than at a cafe drove demand for the product, and many purchase hard pods for gift purposes. Light fryers also make it possible for consumers to make chips without using too much oil, which is convenient and regarded as the healthier option. On the contrary, deep fat fryers witnessed a sharp decline due to a shift in demand for light fryers.

Competitive Landscape

Cuckoo Electronics Co Ltd led small cooking appliances in 2013 with 30% volume share, followed by Lihom Co Ltd. In 2013, these two local manufacturers managed to reach combined volume share of 43% in small cooking appliances. They were able to dominate with their high presence in rice cookers, where they held combined volume share of 96% in 2013. Rice cookers held 42% volume share of total small cooking appliances in 2013. Being the top two leading manufacturers in this large product area, Cuckoo Electronics and Lihom were able to show a high presence in overall small cooking appliances.

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Industry Prospects

Small cooking appliances is expected to continue the steady growth over the forecast period, as pod coffee machines and light fryers are expected to continue the strong increasing trend. The growth level of pod coffee machines is expected to slowly decrease, whereas light fryers is expected to decrease marginally faster over the course of the forecast period. Pod coffee machines is expected to show high growth over the forecast period with a 10% volume CAGR, constantly pulling up the penetration rate of total coffee machines in South Korea.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Small Cooking Appliances industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Small Cooking Appliances industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Small Cooking Appliances 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

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You may also be interested in these related reports:

- Small Kitchen Appliances (Non-Cooking) in South Korea
- Consumer Appliances in South Korea
- Consumer Appliances in South Africa
- Large Cooking Appliances in South Korea
- Small Cooking Appliances in South Africa

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