Food Preparation Appliances in Hungary

PROSPECTS AND OPPORTUNITIES

Outlook for food preparation appliances remains positive

Food preparation appliances looks set to record solid growth in total volume sales throughout the forecast period, with all categories expected to expand consistently in this respect. Due to the rising cost of living, the increased incidence of remote working and the growing adoption of healthier dietary habits, many Hungarians will remain inclined to cook and eat at home more frequently than was the case before the pandemic.

Increasing maturity and cannibalisation will slow demand for many product types

Although food preparation appliances will continue to perform well on the whole during the forecast period, growth in total volume sales is projected to fall below that witnessed over 2022-2027. This is partly due to increasing maturity, though the expansion of many categories will also be constrained by cannibalisation as heightened budget-consciousness, the desire for greater convenience and shrinking home sizes lead Hungarians to favour versatile appliances that offer a wider range functions and save space in the kitchen.

Slow juicers will continue to benefit from rising health awareness among Hungarians

Slow juicers is expected to be the most dynamic category within food preparation appliances in volume growth terms over the forecast period, and is also the only one that looks set to record a stronger performance in this regard than it did over 2017-2022. While growth rates will be skewed somewhat by the ongoing emergence of sales from a relatively low base, the category will continue to benefit from the fact that the well-established tendency towards rising health-consciousness among Hungarians has recently been reinforced by concerns surrounding the pandemic.