PROSPECTS AND OPPORTUNITIES
Unit price increases expected due to global economic uncertainty and persistent supply chain issues
Post-pandemic, demand for refrigeration appliances continues to rise in Hong Kong, with a positive outlook for the forecast period, although retail volume growth is expected to notably slow compared to the review period average. Ongoing economic instability amid high inflation in various major markets and persistent supply chain disruptions due the spillover effect of wars are factors that are set to push up the cost of raw materials and logistics networks, and thus increase the overall cost of production for appliances.
Home integration leads to greater popularity of smart refrigeration appliances
Post-pandemic, consumers in Hong Kong are extremely aware of their health and wellness and are interested in refrigeration appliances that claim to keep food fresh for longer and preserve its nutritional qualities. This is driving up demand for innovative refrigeration appliances, such as Samsung’s models with red LED lights in the vegetable compartment.
Freestanding freezers and fridges to continue losing popularity
Demand for freestanding freezers and fridges is projected to continue declining over the forecast period. This will be mainly driven by a local consumer preference for appliances with combined functions that can fit increasingly expensive and limited living space.
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Overview:
Understand the latest market trends and future growth opportunities for the Refrigeration Appliances industry in Hong Kong, China 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 Refrigeration Appliances industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Refrigeration Appliances in Hong Kong, China 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 Refrigeration Appliances in Hong Kong, China?
- Which are the leading brands in Hong Kong, China?
- How are products distributed in Hong Kong, China?
- 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?
Refrigeration Appliances in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Further declines for freezers and fridges due to limited space in local homes
Fridge freezers maintains high demand
Despite prevalence of offline sales, e-commerce gains further ground
Unit price increases expected due to global economic uncertainty and persistent supply chain issues
Home integration leads to greater popularity of smart refrigeration appliances
Freestanding freezers and fridges to continue losing popularity
Consumer Appliances in Hong Kong, China - 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:
Refrigeration Appliances
- Built-in Refrigeration Appliances
- Freestanding Refrigeration Appliances
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- Built-in Electric Wine Coolers/Chillers
- Freestanding Electric Wine Coolers/Chillers
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- Built-in Freezers
- Freestanding Freezers
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- Built-in Fridge Freezers
- Freestanding Fridge Freezers
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- Built-in Fridges
- Freestanding Fridges
Refrigeration Appliances
Refrigeration appliances considers built-in and freestanding major appliances in the following categories: fridge freezers, fridges, freezers and electric wine coolers chillers.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Refrigeration Appliances research and analysis database.
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