PRZOOM - /newswire/ -
Beijing, China, 2011/06/17 - ResearchInChina, the vertical portal for Chinese business intelligence, announces the release of a new report – China Small Kitchen Appliance Industry Report, 2011.
Small kitchen appliance products mainly include: soymilk maker, electric kettle, microwave oven, electric pressure cooker, kitchen ventilator, induction cooker, electric cooker, sterilized cupboard, juice extractor, multi-functional food processor, etc. In recent years, the small kitchen appliance market has seen vigorous development, with the domestic sales value soaring to RMB74 billion in 2009 from RMB45 billion in 2006 and the CAGR hitting 18.1%. In 2010, the domestic sales market scale of small kitchen appliance in China approximated RMB88 billion.
By product breakdown:
1. Electric Cooker: China’s electric cooker market presented stable development in 2010, with the output totaling 170 million, up 14% year-on-year. The most representative enterprises came to Midea, SUPOR and Panasonic, with the accumulated market share surpassing 70% in 2010.
2. Microwave Oven: in 2010, the microwave oven was included in the list of “home appliances going to the countryside”, fueling the demand in the second-and third-tier markets. As a result, the annual output increased by 12.3% year-on-year to 670 million. And the export volume of microwave oven reached 5.3 million, up 18.4% year-on-year.
3. Soymilk Maker: JOYOUNG boasts the big shot in Chinese soymilk maker market, with the market share surpassing 60% in 2010. In the future, JOYOUNG will, on one hand, work to consolidate its market share and, on the other hand, intensify the implementation of the differentiation strategy of soymilk maker products, seeking to explore water purifier and bean industries.
The increasingly improving living standard will make the capacity of small kitchen appliance market expand on a large scale, which can be resulted from the 4 following aspects: firstly, due to intensified supportive policy, induction cooker, electric cooker, microwave oven, electric pressure cooker and kitchen ventilator are included in the list of “home appliances going to countryside ”; secondly, new small kitchen appliance products like soymilk maker are becoming more and more popular; thirdly, the market potential in rural areas and second-and third-tier cities is getting released; lastly, many large home appliance enterprises including Midea give priority to the development of small kitchen appliance business.