Indonesia Kitchen Appliances Market Set to Grow 21% CAGR Through 2019, Reports TechSci Research Study
According to the recently released TechSci Research report, "IndonesiaKitchen Appliances Market Forecast & Opportunities, 2019", the market for kitchen appliances in Indonesia is forecast to exhibit a CAGR of around 21% in value terms during 2014-19. Some of the prominent factors driving robust growth in the market include increasing population of working professionals; growing preference of consumers, especially youngsters, for convenience products; and gradually increasing base of middle class and affluent consumers. Various government initiatives such as nationwide scheme for gas stove installations is further driving substantial growth in kitchen appliances market in Indonesia.
Currently, small kitchen appliances segment, which mainly included appliances like electric cookers, food processors and blenders, are dominating the market. The trend is likely to continue during the forecast period as more consumers would prefer having their kitchen equipped all the convenience products. However, a large segment of the population is highly price conscious, which poses challenge for kitchen appliance manufacturers and suppliers in the country. Java is the key manufacturing hub for kitchen appliances in the country as most of the companies have their manufacturing footprint in this province.
"Smart inverter technology and environment friendly kitchen appliances are expected to witness considerable growth in the future, which would further drive significant volume sales of kitchen appliances in Indonesia. Moreover, Indonesia is the world's third largest rice producer after China and India. The country also imports rice in large quantities to meet high demand, as per capita rice consumption in the country is as high as 140 kg. This is significantly contributing to increasing demand for electric rice cooker in Indonesia, which is expected to rise further over the next five years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"IndonesiaKitchen Appliances Market Forecast & Opportunities, 2019" has evaluated the future growth potential of the kitchen appliances market in Indonesia and provides statistics and information on market structure, exports and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the market for kitchen appliances in Indonesia.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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