Large Cooking Appliances in South Korea

PROSPECTS

Increasing volume sales are expected over the forecast period

Over the forecast period, large cooking appliances is expected to see a positive retail volume CAGR, although slightly lower than that seen in the review period. Built-in hobs is expected to see the best performance in large cooking appliances, whilst cookers is expected to see a decline, and the worst performance within large cooking appliances.

A decline is expected for cookers in volume terms

Cookers is expected to see a consistent decline in the forecast period, due to the changing lifestyles of Korean consumers. Cooking programmes are no longer popular in South Korea, and the interest in home meal replacement and the changing demographics, with an ageing population, will negatively affect sales of cookers over the forecast period.

Electronics and appliance specialist retailers loses out to internet retailing

Internet retailing is gradually gaining distribution share from electronics and appliance specialist retailers. Because internet retailers tend to provide the cheapest prices and third party installation services, many consumers are satisfied with their offerings.

COMPETITIVE LANDSCAPE

Haatz Co maintains its lead in large cooking appliances

Haatz Co maintained its lead in both built-in large cooking appliances and freestanding large cooking appliances in 2018, with its share mostly coming from built-in cooker hoods. Haatz supplies large cooking appliances to construction companies; thus, most of its sales come from the construction channel.

Competition between Ntec Co and SK Magic

Ntec Co remained in second place in large cooking appliances in 2018, followed by SK Magic. Ntec sees most of its sales from built-in cooker hoods.

Haatz Cooking Zone

Haatz introduced the Cooking Zone system in October 2016. The system consists of a hob and cooker hood.

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