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Report
Sweden Kitchen Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The Sweden Kitchen Appliances Market size is estimated at USD 1.36 billion in 2024, and is expected to reach USD 1.68 billion by 2029, growing at a CAGR of 4.35% during the forecast period (2024-2029).
The kitchen appliance industry in Sweden is growing significantly as more and more customers are attracted to multifunctionality. A great deal of demand is being placed on the appliance, which can perform more and more tasks that would earlier have required multiple devices. A growing concern among consumers is the experience of using a product along with its effectiveness.
With the advent of COVID-19 in the years 2020 and 2021, the revenue of small kitchen appliances observed a continuous increase, reaching USD 0.39 billion in the year 2021, after which it observed a further decline to USD 0.33 billion in the year 2022. With a growing online revenue share of kitchen appliances, we observed a fast percentage growth combined with a decline in the offline revenue share percentage.
Swedish consumers are looking for something beyond just the effectiveness of the product. As the Swedish population is rising and aging, companies are keen on making their products easier to use for all types of consumers. In addition to the bigger displays and the ability to use voice commands, some appliances are getting upgrades that make them a lot easier for customers to use.
Sweden Kitchen Appliances Market Trends
Premiumization And Increasing Sales Of Small Kitchen Appliances is Driving the Market
Swedish consumers are increasingly looking for premiumization in small kitchen appliances. Premiumization has mainly been the key characteristic of an affluent and ageing consumer base. An example of the premiumization trend is the launch of the Wilfa Uniform coffee mill in early 2019. Wilfa Uniforms are at a retail price of SEK3,500, which is much higher than the average unit price of SEK510 for the coffee mills. Smeg's Hold is a new and innovative concept that combines an induction hob with a powerful, built-in cooker hood in the middle, hence "HOBD". Smeg describes the new appliance as having "an elegant design with powerful capabilities".
In Sweden in 2022, small kitchen appliances brought in a total of USD 333.9 million, and each household made an average of USD 65.75 from small kitchen appliances. Small kitchen appliances in Sweden have occupied the largest segment of the small appliance market in total revenue as well as average revenue per household over the years.
Increasing Internet Retail Sales Of Kitchen Appliance is Fueling the Market
While store-based retailers control the bulk of volume sales in kitchen appliances, internet retailing continues to make year-on-year profits. This is leading store-based retailers to increasingly embrace the opportunities offered by internet retailing rather than viewing it as a threat. Hence, e-commerce remains the primary focus of most retailers, with players investing in introducing, updating, and improving their online platforms.
Kitchen appliances are a segment of household appliances, as are small appliances. Over the period, the online revenue share of household appliances in Sweden increased to 51.7% of total sales in 2022. Similarly, small appliances observed an increase in online sales of 52.5% in 2022.
Sweden Kitchen Appliances Industry Overview
The larger kitchen appliances segment is relatively concentrated in nature, with the three leading players being BSH Home Appliances, Electrolux, and Ikea, which account for almost two-thirds of retail volume sales between them. On the other hand, the smaller appliance market is fragmented. Philips seems to hold a dominant share in the market with the growing volume of sales of light fryers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Food Processing
5.1.2 Small Kitchen
5.1.3 Large Kitchen
5.1.4 Other Product Types
5.2 By Distribution Channel
5.2.1 Specialist Retailers
5.2.2 E-commerce
5.2.3 Supermarkets and Hypermarkets
5.2.4 Department Stores
5.2.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Dongbu Daewoo Electronics
6.2.2 Electrolux AB
6.2.3 Asko Appliances AB
6.2.4 Amica Wronki SA
6.2.5 Konka Group Co. Ltd.
6.2.6 Arcelik AS
6.2.7 Haier Electronics Group Co. Ltd.
6.2.8 Gorenje Group
6.2.9 LG Electronics Nordic AB
6.2.10 Whirlpool*
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