The inflation rate in major economies started to significantly rise in the first half of 2022, linked to the war in Ukraine, quantitative easing and supply chain disruptions. The political situation further pushed up the cost of raw materials and energy prices, whilst transportation costs also spiked.
In the coming years, local consumers are likely to favour multifunctional home laundry appliances due to the average small living space in Hong Kong. Therefore, they will avoid purchasing two or more appliances for home laundry purposes, and will be increasingly willing to invest initially in a high-quality and multifunctional product.
During lockdowns in Hong Kong, social distancing and other pandemic-related restrictions discouraged consumers from leaving their homes. This scenario accelerated the move online as local consumers searched for home laundry appliances when they were unable to visit physical retailers.
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Understand the latest market trends and future growth opportunities for the Home Laundry Appliances industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Home Laundry Appliances
Home laundry appliances includes the following categories: automatic dryers, automatic washing machines, automatic washer dryers and semi-automatic washing machines.See All of Our Definitions
This report originates from Passport, our Home Laundry Appliances research and analysis database.
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