PROSPECTS AND OPPORTUNITIES
Challenges ahead for large cooking appliances amidst rise in single-person households
In the forecast period large cooking appliances in South Korea is expected to encounter a challenge from the rising number of single-person households, which as of 2024, accounted for 42% of all households in the country. These households typically have lower demand for large cooking appliances, as they tend to cook less frequently than larger families.
Multifunctional ovens expected to be on the rise
Electric ovens evolved rapidly in South Korea in 2024, embracing a future in which multifunctional appliances are expected to dominate. Miele Korea’s premium ovens, launched in June, not only provide AirFry capability for healthier cooking, but also offer precise temperature control, enabling a range of cooking techniques with futuristic ease.
Enhancing efficiency and convenience with AI
During the forecast period, large cooking appliances are expected to evolve dramatically, incorporating highly intelligent, multifunctional features. One example is Samsung’s February 2024 launch of the Bespoke Induction Infinite Line.
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Overview:
Understand the latest market trends and future growth opportunities for the Large Cooking Appliances industry in South Korea 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 Large Cooking Appliances industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Large Cooking Appliances in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Large Cooking Appliances in South Korea?
- Which are the leading brands in South Korea?
- How are products distributed in South Korea?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Large Cooking Appliances in South Korea - Category analysis
KEY DATA FINDINGS
Large cooking appliances registers three consecutive years of volume decline
Haatz continues to lead large cooking appliances
Technological advances in large cooking appliances
Challenges ahead for large cooking appliances amidst rise in single-person households
Multifunctional ovens expected to be on the rise
Enhancing efficiency and convenience with AI
Consumer Appliances in South Korea - Industry Overview
Consumer appliances in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer appliances?
DISCLAIMER
The following categories and subcategories are included:
Large Cooking Appliances
- Built-in Large Cooking Appliances
- Freestanding Large Cooking Appliances
- Built-in Hobs
- Ovens
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- Built-in Cooker Hoods
- Freestanding Cooker Hoods
- Cookers
- Range Cookers
Large Cooking Appliances
The large cooking appliances includes freestanding cookers, built-in ovens, built-in hobs and cooker hoods.
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This report originates from Passport, our Large Cooking Appliances research and analysis database.
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