Indonesia Kitchen Appliances Market to Grow at CAGR 16% Till 2021: TechSci Research Report
NEW YORK, July 25, 2016 /PRNewswire/ --
Rising disposable income, growing number of nuclear families and increasing demand for convenience cooking to drive Indonesia kitchen appliances market through 2021
According to a TechSci Research report, "Indonesia Kitchen Appliances Market By Product Segment, Competition Forecast and Opportunities, 2011-2021", kitchen appliances market in Indonesia is projected to grow at a CAGR of over 16% during 2016-2021, on account of rising per capita income, increasing urbanization, growing middle class population base, changing preferences of consumers and increasing government initiatives to replace kerosene stoves with LPG gas stoves across households. Urban population base in the country stood at 134.86 million as of 2014. On the back of this, Indonesia is emerging as a one of the fastest growing markets for kitchen appliances in Asia-Pacific. Kitchen appliances market in Indonesia is mainly dominated by large kitchen appliances such as gas stoves, ovens (built in), hoods, dishwashers, etc., and these segments are expected to continue their dominance through the forecast period, on account of increasing adoption of such appliances by young working population and high disposable income levels.
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Browse 1 market data Table and 43 Figures spread through 122 Pages and an in-depth TOC on
"Indonesia Kitchen Appliances Market"
Rising sales of kitchen appliances in the country can be attributed to rising internet penetration rates and increasing number of online retailers that offer a wide range of products. Consumers can easily compare product specifications, prices and other features through online channels. Additionally, these channels have eased the buying process for consumers, as they offer discounts on different kitchen appliances and trend is expected to continue in the coming years. Few of the leading players operating in the country's kitchen appliances market include Modena, PT Sharp, Samsung Electronics, Panasonic, etc. Moreover, on account of availability of better employment opportunities and enhanced standard of living, people are migrating to Java and Sumatra regions of the country, as these regions house major financial, commercial and business corporations of Indonesia.
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"Large population base and modest growth in GDP over the last decade is increasing affordability of modern kitchen appliances such as hobs (induction cook-tops), electric cookers, microwave ovens, etc., among consumers, as these offer convenient cooking options at competitive prices. Indonesia GDP per Capita, PPP stood at USD10,517 in 2014. Expanding upper and affluent customer base are continuously upgrading their obsolete kitchen appliances with new, advanced and efficient products. This presents kitchen appliance manufacturers with numerous lucrative opportunities in Indonesia." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Indonesia Kitchen Appliances Market By Product Segment, Competition Forecast and Opportunities, 2011-2021" has evaluated the future growth potential of Indonesia kitchen appliances market and provides statistics and information on market structure, size, share and future growth of the country's kitchen appliances market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities present in Indonesia kitchen appliances market.
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