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World Cooking Appliances By Freedonia Group Inc

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World Cooking Appliances By Freedonia Group Inc

World Cooking Appliances By Freedonia Group Inc

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  • 1. World Cooking Appliances Freedonia Group Inc Report Highlight
  • 2. World demand to rise 4.8% annually through 2017 Global demand for cooking appliances is forecast to increase at a 4.8 percent annual rate through 2017 to 249 million units, improving over gains that were recorded during the 2007-2012 period. Growth will be boosted by an improvement in the key US market, with demand stemming in large part by a recovery in the country’s large housing industry. In addition, rising standards of living in many developing areas will contribute to overall sales. Advances in the number of foodservice establishments worldwide, which itself is a byproduct of rising living standards, will provide further impetus for growth. China & India to experience robust growth The US was the world’s largest consumer of cooking appliances in 2012, a result of high saturation rates and a sizable housing stock. While most appliance purchases in the US are for replacement purposes, the swift rebound in new housing units will generate substantial demand through the forecast period. Developing areas will offer the best prospects for growth through 2017, since the penetration rate for cooking appliances is generally smaller, which results in a larger pool of first time purchasers. In addition, these countries typically have a booming housing industry, further contributing to overall demand gains. Developing countries such as China and India will record particularly robust growth through 2017. Low penetration rates in these nations, particularly in rural areas, have historically limited demand opportunities. However, improving standards of living will cause cooking appliance demand to increase at a rapid rate going forward.
  • 3. Shift toward separate cooktops to boost unit demand In general, demand for cooking appliances will be stimulated by the global shift towards separate cooktop and oven units. While most developed countries have been transitioning towards separate cooking appliances for quite some time, consumers in a number of developing nations are beginning to opt for separate cooktops and ovens over ranges. Cooktops and ovens offer a more seamless design into a kitchens cabinetry, providing a greater degree of aesthetic appeal. However, the purchase of separate cooktops and ovens requires some level of affluence, for initial market penetration of cooking appliances is comprised largely of ranges. These appliances are significantly less expensive than cooktops and ovens, and provide the essential functions of preparing meals. Commercial market to outpace residential The residential market accounts for the vast majority of demand, since the number of households far surpasses the number of foodservice establishments worldwide. However, demand for cooking appliances in the much smaller commercial segment will grow at a faster rate than residential demand. The lifestyle of many consumers is increasingly fastpaced, which results in less time available for meal preparation at home. As a result, a larger percentage of meals are eaten away from home, benefiting growth in food-service establishents. Additionally, as a larger share of the world’s population migrates towards urban centers, the number of foodservice establishments will also rise, as restaurants tend to be concentrated in areas with a high population density. Both of these factors will play a vital role in the future growth of commercial cooking appliances.
  • 4. About the Publisher The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. View This Report View More Reports from this Publisher
  • 5. About Us MarketResearch.com provides market research solutions to business professionals seeking to enhance their business goals. We provide a number of business intelligence solutions, from individual market research reports from over 700 leading global publishers, to Knowledge Centers where clients can discover deeper business insight products into a topic over time. Or perhaps your business needs a much wider view across multiple industries and topics, if so, our Profound solution allows you to select specific parts (graphs, tables, charts or sections) from different market research reports. Our Account Managers have in-depth knowledge of the publishers and the various types of reports in their respective industries. They give you unbiased and qualitative insights on which reports will best meet your needs. If you are interested in expanding your business or growing your market share, contact us to get a free Consultation to Assess your Market Research Needs. We can help tailor a solution that suits your unique business goals. One of our Account Managers will get right back in touch with you.
  • 6. For More on this Report and Additional Research Visit MarketResearch.com Or call 1-800-298-5699

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