Food Preparation Appliances in Venezuela - New Market Report

From: Fast Market Research, Inc.
Published: Mon Mar 09 2015

Sales of food preparation appliances declined by 33% in retail volume terms in 2014, largely as a consequence of the absence of foreign currency and import restrictions. In spite of increasing domestic production, the volumes produced were not enough to fulfil demand. Besides, although the integration of domestically manufactured parts is high, there are still parts that need to be imported to produce food preparation appliances, mainly from China.

Competitive Landscape

Oster de Venezuela remained the leading company in food preparation appliances in 2014, with a 47% volume share. Groupe Seb de Venezuela ranked second overall with a volume share of 17%. HPG de Venezuela Black & Decker was ranked third with a 4% share. Oster was one of the consumer appliances operators that benefited from the severe restrictions which are in currently in place on the importation of finished goods in Venezuela, due to its local production. When allocating foreign currency to Venezuelan companies, CENCOEX favours companies which are seeking foreign currency to purchase raw materials or components for in-country production. However, during 2014 restrictions on the distribution of foreign currency also affected manufacturers as well as importers.

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Industry Prospects

Food preparation appliances is expected to see retail volume sales rise by a negligible CAGR over the forecast period, recovering slightly from the large declines seen in the review period. Significant investment is not expected in this category in the short and medium term, as a consequence of economic uncertainty. Analysts argue that social pressures will compel the government to tackle issues regarding restrictions on imports in order to avoid further social unrest. However, it is not likely that domestic production will be able to completely supply internal demand, due to the lack of domestic production capacity for food preparation appliances in Venezuela.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Food Preparation Appliances industry in Venezuela 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 Food Preparation Appliances industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Food Preparation Appliances in Venezuela 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

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