Asia Pacific

While growth for vacuum cleaners increased during the pandemic due to the unavailability of domestic workers, demand for the category slowed considerably in 2023 due to inflationary pressures and the return of hired help. In India, there is a…

Following the reopening of schools and offices, many local consumers have been returning to pre-pandemic lifestyles and thus are more pressed for time. With expansion of the employed female population, households are looking for appliances that allow…

Following a year of healthy growth in 2022, the demand for refrigeration appliances slowed in 2023 due to inflationary pressures and unfavourable weather conditions. Sporadic rain during the summer months disrupted sales for cooling products such as…

While the growth rate for the category slowed marginally in 2023, retail volume sales remained robust due to factors such as rising awareness, new product innovation and launches, and greater mobility. A growing emphasis on hygiene, personal…

Microwaves in India continued to experience muted demand in 2023, as consumers restricted their expenditure during a period of economic uncertainty. There were several other factors, such as the return of domestic help, reopening of restaurants,…

The category of large cooking appliances remained relatively small in 2023 due to cultural differences, wherein most local consumers rely heavily on freestanding appliances, such as freestanding hobs (included in small cooking appliances), as opposed…

After a year of strong recovery in 2022, the growth of home laundry appliances marginally slowed in 2023, but demand remained robust due to factors such as increasing penetration, a greater need for convenience-driven appliances, access to financing…

Food preparation appliances witnessed flat growth in 2023 due to slow demand as consumers diverted their share of wallet from durables and appliances to essential products. The cost-of-living crisis and inflation resulted in consumers pushing back…

During the pandemic, dishwashers experienced a surge in sales as consumers were confined to their homes and therefore sought appliances that would help simplify household chores while they tried to balance work and childcare responsibilities.…

After a year of healthy growth in 2022, the demand for consumer appliances in India notably slowed in 2023, hindered by inflationary pressures and a cost-of-living crisis. This was one of the key themes that plagued the industry during the year.…

In 2022, retail volume sales of air treatment products in India, especially cooling products such as air conditioners and air coolers, recorded double-digit growth, due to factors such as pent-up demand, harsh summer conditions and greater consumer…

Industry stakeholders are increasingly debating between sustainability and technology leadership strategies in the appliances market. As margins continue to shrink, leadership in either category is critical to maintain continued competitiveness. In…

Embedded finance is a critical factor in improving the customer journey and driving transformation. Leading embedded finance partners enable non-financial clients to offer diversified financial products and services, with simplified integration,…

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

Vacuum cleaners posted positive retail volume sales in 2023. However, growth was somewhat stunted by a shift from spending on goods to experiences and services. Following the lifting of COVID-19 restrictions, many consumers were keen to travel and…

Sales slowed down in 2023, as many consumers spent more on eating out and travelling following the lifting of COVID-19 restrictions in 2022. This saw consumers reducing budgets for goods, with greater expenditure on services and experiences. Due to…

Following the outbreak of COVID-19, Taiwan reopened the national border at the end of 2022, leading many consumers to travel abroad after having restrictions in place for over two years. In addition to a shift from spending on goods to experiences,…

Although consumers have shifted spending to overseas travelling and eating out, the increasing demand for hair care appliances has driven a lift in retail volume sales in 2023. Generation X and some millennial consumers tend to be more focused on…

Despite its higher electricity consumption, microwaves are considered kitchen essentials in Taiwan. As such, the penetration rates of microwaves continued to slightly increase in 2023. COVID-19 did not have a negative impact on its overall sales…

Following a fast increase in sales caused by the robust real estate market from 2020 to 2022, large cooking appliances slowed down in 2023. This was especially the case as many subcategories, including built-in hobs and cooker hoods, tend to be…

While retail volume growth was positive in 2023, sales were hampered by a shift from spending on goods to services and experiences. As Taiwan ended COVID-19 restrictions at the end of 2022, many consumers were eager to travel abroad. This revenge…

Following the outbreak of COVID-19, consumers gradually returned to eating out and using food delivery services more frequently. Less time was spent cooking at home, leading to lower expenditure on food preparation in 2023.

Since Taiwan re-opened its national border at the end of 2022, many consumers travelled abroad, shifting spending from goods to experiences. This has led to reduced capital spent on dishwashers, in addition to other major appliances. However,…

In 2023, consumer appliances in Taiwan posted slower retail volume and value growth compared to the previous year, with sales negatively impacted by inflationary pressure, the slowdown in the local real estate market, and a spending shift from goods…

Following the lifting of COVID-19 restrictions in 2022, consumers spent more money on travel and experiences, shifting budgets away from consumer appliances. In addition, the weaker performance of the local real estate market saw air treatment…

In Malaysia, the market for vacuum cleaners continued its growth in 2023, with a more impressive rate than was seen in 2022 but at a moderated pace compared to the surge experienced during the height of the pandemic. This growth is underpinned by a…

In Malaysia, the market for small cooking appliances recorded a slight decline in terms of overall volume sales growth in 2023. The trend towards multifunctional and space-saving cooking devices like rice cookers, has been sustained, as these…

Post-pandemic the demand for refrigeration appliances has dropped in Malaysia, largely thanks to the decrease in purchases of freestanding fridge freezers, a segment that had previously seen significant growth. The decrease was a result of a…

Oral care appliances continued dominate retail volume sales of personal care appliances in Malaysia in 2023 and also posted the most dynamic growth. Heightened hygiene awareness, a by-product of the pandemic's influence, has seen many consumers…

The Malaysian market for microwaves saw a decline in retail volume sales in 2023, continuing from 2022’s dip that followed a period of growth from 2019 to 2021. The decline is partly due to a reduced need for new or replacement microwaves after a…

Large cooking appliances in Malaysia, after experiencing a decline during the pandemic due to economic contractions and increased home seclusion, began to show signs of recovery in 2021. Although the pandemic led to reduced disposable incomes and a…

Post-pandemic the demand for home laundry appliances has been declining in Malaysia, following a pandemic-era trend of increased investment in such products amid a notable shift towards enhancing home comfort. With travel and holiday plans curtailed,…

The market for food preparation appliances in Malaysia saw a slight dip in terms of overall volume sales in 2023, following positive trends established in previous years. The fall was curbed by a sustained interest in cooking at home, particularly…

Demand for dishwashers in Malaysia has been heavily influenced by the reduced presence of expatriates, who traditionally constituted a significant customer segment for this appliance. The adoption of remote working policies by businesses, both local…

The lifting of restrictions in 2022 has reshaped the Malaysian consumer landscape, with local consumers no longer confined to their homes. The newfound freedom has boosted spending in sectors such as tourism and food service, detracting from consumer…

In Malaysia, the perception of air purifiers is transitioning from a luxury to a necessity, despite their higher-than-average unit prices. 2023 saw volume sales continue to rise, thanks to a pandemic-induced heightened awareness about the importance…

Sales in vacuum cleaners are supported by consumers’ rising standards of hygiene within the home. This is particularly notable in big cities, due to urban air pollution levels. It is noted that PM2.5 dust is a concern for consumers living in the big…

Vacuum cleaners continued to enjoy fast growth in demand in 2023. This performance continued to be supported by heightened awareness of the importance of hygiene and cleanliness to health since the outbreak of the COVID-19 pandemic. The public health…

Volume growth in small cooking appliances remains stable, albeit at slowing growth rates than seen over the past few years as the category becomes more mature. Air-fryers continue to be popular, with both urban and rural consumers, as such appliances…

The demand for small cooking appliances continued to rise in 2023, bolstered by the healthy cooking and eating trends in the Philippines. The COVID-19 experience emphasised the need to focus on health and wellbeing. With many Filipinos still spending…

Sales in refrigeration appliances have crept back into small positive volume growth, after the category’s previous years of slumps. This is in part attributed to the hot summer season in Vietnam, driving demand for refrigeration appliances which…

While many consumers continued to face financial pressures at the end of the review period, customisation gained importance as higher-income consumers wanted personalised products that fit with their design and aesthetic requirements. Thus,…

Sales in personal care appliances are supported by rising incomes and standards of living in Vietnam, leading to consumers paying more attention to their appearances. Social media trends are also influencing sales, both in urban areas and reaching…

The demand for personal care appliances continued to grow through small lower-priced-brands or unbranded products at the end of the review period. Regardless of the brand name, if consumers find a product that can perform the job, such as for hair…

Retail volume sales in microwaves are sliding into negative declines, which are expected to continue over the forecast period. Previously, we had seen decent volume growth in microwaves, thanks to players offering more affordable and value-for-money…

A microwave oven is a key appliance for consumers who demand convenience cooking appliances. Following a strong, but relatively limited, drop in retail volume sales in 2020, caused by COVID-19 pandemic-related strict lockdowns and restricted retail…

Large cooking appliances remains in a negative volume slump in 2023, with relatively weak value growth. Large cooking appliances tend to have long lifecycles, with fewer upgrades than seen in many other consumer appliances categories. As such, sales…

All categories of large cooking appliances witnessed retail volume increases in 2023, although there were divergences in terms of the pace of growth. In retail volume terms, built-in models continued to dominate large cooking appliances in the…

Home laundry appliances continue to struggle in retail volume terms in 2023, albeit with a slight improvement on the previous three years. It is noted that lower- to mid-income consumers and those living in rural areas are not concerned about…

Semi-automatic washing machines remained the most popular type of home laundry appliances in the Philippines at the end of the review period. Semi-automatic washing machines, which continued to recover from the 2020 slump in retail volume sales…