South Korea’s kitchen appliance market is anticipated to grow at a CAGR of 6.2% during the forecast period. In the last decades, the country’s GDP has developed significantly, and the per capita GDP of the people has come near to the developed economies. In October 2019, the country also announced to opt-out from the WTO, to take advantage of a developing economy. Increased per capita income, high brand awareness, and increasing adoption of smart devices also in the kitchen are some of the major factors for the growth of the South Korea kitchen appliance industry.
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The South Korea kitchen appliance market is segmented based on product type, application, and distribution channels. Based on the product type, the market is sub-segmented into refrigerators, microwave, mixer & juicer and food processor, stove & hobs, dishwasher, water purifier, coffee machines, and other. Refrigerators are expected to maintain a major market share during the forecast period. Based on the application, the market is sub-segmented into a residential kitchen and commercial kitchen. Further, based on the distribution channel the market is bifurcated into the online channel and offline channel.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
South Korea Kitchen Appliances Market by Product Type
- Refrigerators
- Microwave
- Mixer & Juicer and Food Processors
- Stove &Hobs
- Dishwasher
- Water Purifier
- Coffee Machines
- Other (Electric Chimney, Kettle, Toaster)
South Korea Kitchen Appliances Market by Application
- Residential
- Commercial
South Korea Kitchen Appliances Market by Distribution Channel
- Online Channel
- Offline Channel
Company Profiles
- Carrier Corp.
- Koninklijke Philips N.V.
- Haier Group Corp.
- Hitachi, Ltd.
- LG Electronics Inc.
- Panasonic Corp.
- Sichuan Changhong Electric Co., Ltd.
- Samsung Electronics Co., Ltd.
- Whirlpool Corp.
- WINIA Electronics Co., Ltd.
The Report Covers
- Comprehensive research methodology of the South Korea kitchen appliance market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the South Korea kitchen appliance industry.
- Insights about market determinants which are stimulating the South Korean kitchen appliance market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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