Worldwide demand for electric housewares and personal care appliances is projected to rise 3.3% annually through 2005 to $34 billion—an improvement over 1995 to 2000 market performance. Sales will be stimulated by a rising level of industrialization in the developing countries of Asia, Latin America, Africa and the Mideast, leading to above average increases in personal income and consumer spending. These and other trends are presented in World Electric Housewares & Personal Care Appliances, a new study from The Freedonia Group Inc., a Cleveland-based industrial market research firm.
Market growth in China will be stronger than in any other major country, with product demand driven by the nation's emergence as an industrial powerhouse. Other developing countries in the Asia/Pacific region will also record strong growth. The Africa/Mideast and Latin American regions are forecast to post above average gains through 2005, and future prospects are favorable in Eastern Europe.
Increases in global electric housewares and personal care appliances demand will be limited by a comparatively sluggish outlook for developed countries. The United States, which in 2000 accounted for one quarter of total world demand, is expected to record below average market gains due to a deceleration in economic growth. Although the pace of increase in Western Europe and Japan will improve, advances will be limited by the high degree of market maturity in these areas.
The global market for electric housewares, including both small kitchen and other small household appliances, is forecast to climb faster than personal care appliances demand. Increases in overall electric housewares demand will be driven by above average sales gains for portable fans, clothes irons, and vacuum cleaners, spurred by continuing technological developments. Worldwide demand for personal care appliances will benefit from the introduction of new models with added features. Rising employment and income levels in developing countries will also contribute to increases in personal care appliances demand.
Among the most notable trends in electric housewares and personal care appliances design is the growing use of computer and electronics technology to increase ease of operation and minimize energy use. Improved product safety has also been the impetus for a number of innovations, and manufacturers have increased their products' aesthetic appeal by offering units in a variety of styles and colors.
World Electric Housewares & Personal Care Appliances (published 02/2002, 310 pages) is available for $4,700 from The Freedonia Group Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone (440)684-9600, fax (440)646-0484 or e-mail [email protected]. Information may also be obtained through www.freedoniagroup.com.