Rice cookers were the top revenue contributor in 2005 in the worldwide small kitchen appliance market, followed by kettles, coffee makers and blenders. These results come from a report form IMS Research (Wellingborough, United Kingdom), The Worldwide Market for Small Household Appliances.
The study reveals that the rice cooker category was the small kitchen appliance with the largest volumes and revenues in 2005, with nearly 40 million units shipped worldwide and generating more than U.S. $1 billion of revenue.
Kettles, drip-filter coffee makers, espresso coffee makers, and blenders each generated more than $650 million worldwide in 2005.
The worldwide rice cooker market is forecast to reach nearly 50 million units, worth $1.24 billion, in 2010, maintaining its position as the world’s largest small kitchen appliance market in both volume and value terms, for the next 5 years
“Ninety percent of the rice cooker market currently lies in the Asia-Pacific region, and penetration rates are close to 100 percent in many of these countries," said Ann Bird, the report author at IMS Research.
Hence, the rice cooker market in Asia-Pacific is mainly driven by replacement. Growth opportunities exist in America and Europe, as ethnic cooking becomes more popular. “There seems to be lots of potential here, which is perhaps not currently being fully exploited by the major OEMs," Bird said.
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