Summary

Mexico's kitchen appliances market is growing significantly as more and more Mexicans are becoming very much aware of the importance of healthy eating habits which is influencing their consumer choices. Specifically, Mexicans are becoming increasingly interested in products that can help them to have a healthy diet and avoid health problems that are commonly associated with a poor diet. Many people consume coffee regularly in Mexico, mainly to help them wake up in the morning, as a digestive after meals and sometimes during the afternoon as a refreshing drink during a relaxing moment. More coffee shops are now opening in many cities nationwide as the country’s coffee culture strengthens.

Key Market Trends

Kitchen Oven Segment Has Exhibited an Exuberant Double-Digit Growth

The first quarter of 2019 had witnessed a growth of 14% in the product categories of kitchen ovens, electric grills. The revenue from these product sales in the region had amounted to about USD 20 million in 2019 which had grown by more than 10% over the same period compared to the last year. Towards the end of 2019, Grupo HB PS was still leading the manufacture of the small cooking appliances in Mexico. The company can attribute its leading position to the enduring popularity of its brands Hamilton Beach and Proctor-Silex, which are supported by good distribution networks.

Online shopping is gaining momentum

The most important channel for the Kitchen appliances category continues to be hypermarkets, which represents about a third of total volume sales. It is followed by variety stores, which accounts for a fifth of the overall sales, and both channels largely maintained these sizeable shares over the review period. Online channel is gaining trend in the recent days as people are mostly inclined to preferring the comfortable way of buying household and kitchen items.

Competitive Landscape

The market is highly fragmented with many small appliance makers who sell their products in the domestic markets. International players do pose tougher competition to the existing players and thus give immense scope for further product development and innovation. A few of the key players in the market include LG Electronics, Whirlpool, Samsung, Panasonic Corporation among many other actively functioning companies across the various parts of the country.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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