The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMar 2014
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The consumer appliances market is expected to see the emergence of a few influential trends over the next five years. These trends will focus on health and eating habits, while government regulations and policies will shape the inclusion of water and energy-saving features. emerging and developed markets will have different product opportunities in the future. Last but not least, internet retailing will become a major channel for consumer appliances retailing.
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Continued concerns about CO2 emissions will trigger demand for air purifiers in the next five years. Similarly, governments’ national campaigns to raise awareness of healthy eating will drive growth in light fryers.
A lack of water and energy resources will see governments introduce stricter regulations with regard to water efficiency in consumer appliances.
Built-in appliances are typically more expensive than freestanding units, but rising disposable incomes in emerging countries will drive up category volumes. An increase in the number of single and two-person households will be another influential factor driving the growth of built-in appliances as they can fit into limited spaces.
It is expected that automatic washing machines, fridge freezers, air conditioners and microwaves will remain high growth areas in emerging markets. On the other hand, premium products, such as coffee machines and robotic vacuum cleaners, and premium built-in appliances will post high growth in developed markets where consumers value high quality, design and convenience rather than prices alone.
Global internet retailing of consumer appliances increased by 280% between 2008 and 2013, driven mainly by the expansion of internet access, the growing usage of smartphones, and the increased number of internet retailers. The lower unit prices via internet retailing made the channel more attractive than store-based retailers.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.