Sales of food preparation appliances are set to plateau in the market, as global socioeconomic uncertainty is likely to hamper the ability of consumers to spend on this type of appliance. The global socioeconomic uncertainty, combined with Hong Kong’s slower than expected recovery, will force consumers to rethink and prioritise what they should purchase, and a majority of consumers do not view food preparation appliances as a necessity.
While local consumers traditionally prefer European and Japanese brands, there is a growing shift in consumer preference in favour of Chinese brands, with their ranges of food preparation appliances set to gradually gain share over the forecast period. Many factories in China have been original equipment manufacturers (OEM) for European and Japanese brands for a number of years, so the technology, and skills of factory employees, have significantly improved, as has the quality of their products, which is a benefit to Chinese players.
Xiaomi is continuing to penetrate food processors in Hong Kong, supported its competitive pricing (on average, these cost around HKD300) compared with the current prices of international products, which can cost consumers up to HKD2,000, depending on the model and features available. Xiaomi’s affordable and effective product range is proving attractive to local consumers, considering the rising cost of living.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Food Preparation Appliances industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Food Preparation Appliances industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Food Preparation Appliances
Food preparation appliances includes food processors, blenders, mixers, juice extractors, citrus pressers, other food preparation appliances (eg pasta makers, electric mincers, smoothie makers, grinders and electric whisks)
See All of Our DefinitionsThis report originates from Passport, our Food Preparation Appliances research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!