Mexico Kitchen Appliances Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico Kitchen Appliances Products Market Analysis
Mexico's Kitchen Appliances Market has generated a revenue of USD 11 billion in the current year and is expected to register a CAGR of 3% for the forecast period. Most domestic appliances are large machines usually used in bedrooms, bathrooms, halls, and the kitchen. The appliances which are used in a kitchen accomplish some routine housekeeping tasks such as cooking, food preservation, and cleaning. Household appliances have a significant role in the stylish appearance of any home decor. Industrialization has ushered in a dramatic and uneven transformation in world society. It has altered the technological pattern and work processes of preindustrial life. This socio-technological revolution has changed the domestic ways and means of dealing with food provision, clothing, cleaning, and medical care.
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.
The COVID-19 pandemic changed buyers' and consumers' behaviors worldwide. People were forced to spend more time at home due to home office, digital classes, and lockdown measures, so they used their kitchens more frequently. Often, households noticed a lack of or the need to renew home appliances, which was very beneficial for electro domestic manufacturers and their providers.
Mexico Kitchen Appliances Products Market Trends
Increasing Gross Production of Small Kitchen Appliances
In December 2021, the gross production value of small household appliances in Mexico increased by More than 20%. Small kitchen appliances are mainly used on small platforms and can be user-friendly. Small kitchen appliances are mainly used for both commercial and residential purposes, such as blenders, coffee makers, iced tea-makers, and mixers. Where large and small appliances save people time and effort every single day. Small kitchen appliances worth investing in to make cooking more accessible and fun include a food processor, air fryer, etc.
Increasing Revenue Sales in E-commerce have the upward growth in sales of Kitchen Appliances
The most crucial channel for the kitchen appliances category continues to be hypermarkets, representing about a third of total volume sales. It is followed by a variety of 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 recent days as people are mostly inclined to prefer the comfortable way of buying household and kitchen items.
Mexico Kitchen Appliances Products Industry Overview
The market is highly fragmented, with many small appliance makers who sell their products in the domestic markets. International players pose tougher competition to the existing players and thus give immense scope for further product development and innovation. A few key players in the market include LG Electronics, Whirlpool, Samsung, Panasonic Corporation, and Electrolux, among many other actively functioning companies across the country.
Mexico Kitchen Appliances Products Market Leaders
-
LG Electronics
-
Panasonic Mexico
-
Electrolux Mexico
-
Samsung Mexico
-
Whirlpool
*Disclaimer: Major Players sorted in no particular order
Mexico Kitchen Appliances Products Market News
- January 2023: Nearshoring boosts appliance manufacturing in Mexico. Mexico is taking advantage of its position within the nearshoring phenomenon, so in terms of production and investment, there will be a growth of 8%. The appliances produced in Mexico include washing machines, air conditioners, stoves, electric water heaters, and vacuum cleaners. In 2022, refrigerators, washing machines, and other household appliance manufacturers invested more than US $1.15 billion in Mexico.
- January 2023: Samsung has announced that it has opened its first Latin American Bespoke Home flagship store in Mexico City. The new flagship store is located at the Centro Comercial Perisur, among the city's biggest shopping malls, visited by an average of 2 million people a month.
Mexico Kitchen Appliances Products Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Insights on Various Regulatory Trends Shaping the Market
- 4.5 Insights on impact of technology in the Market
-
4.6 Industry Attractiveness - Porters' Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
-
5.1 BY Product type
- 5.1.1 Food Preparation Appliances
- 5.1.2 Small Cooking Appliances
- 5.1.3 Large Kitchen Appliances
- 5.1.4 Other Kitchen Appliances
-
5.2 By Channel
- 5.2.1 Offline - Traditional
- 5.2.2 Online
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
-
6.2 Company Profiles
- 6.2.1 LG Electronics
- 6.2.2 Panasonic Corporation
- 6.2.3 Electrolux
- 6.2.4 Samsung Electronics
- 6.2.5 Whirlpool
- 6.2.6 Mabe
- 6.2.7 Tetakawi
- 6.2.8 Haier
- 6.2.9 Fisher & Paykel
- 6.2.10 Winia Electronics Co., Ltd*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityMexico Kitchen Appliances Products Industry Segmentation
Kitchen Appliances means appliances generally found in consumers' kitchens, such as refrigerators, stoves, dishwashers, washing machines, tumble dryers, and microwave ovens. A complete background analysis of the Mexico Kitchen Appliances Industry, which includes an assessment of the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and a market overview, is covered in the report. Mexico's Kitchen Appliances Market is segmented by product type (Food Preparation Appliances, Small Cooking Appliances, Large Kitchen Appliances, and other kitchen appliances), by distribution channel (Specialist retailers, E-commerce, Supermarkets and Hypermarkets, Department Stores, and other distribution channels). The report offers market size and forecasts for the Mexico Kitchen Appliances Market in value (USD Million) for all the above segments.
| BY Product type | Food Preparation Appliances |
| Small Cooking Appliances | |
| Large Kitchen Appliances | |
| Other Kitchen Appliances | |
| By Channel | Offline - Traditional |
| Online |
Mexico Kitchen Appliances Products Market Research FAQs
What is the current Mexico Kitchen Appliances Market size?
The Mexico Kitchen Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Mexico Kitchen Appliances Market?
LG Electronics, Panasonic Mexico, Electrolux Mexico, Samsung Mexico and Whirlpool are the major companies operating in the Mexico Kitchen Appliances Market.
What years does this Mexico Kitchen Appliances Market cover?
The report covers the Mexico Kitchen Appliances Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Kitchen Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Kitchen Appliances Products Industry Report
Statistics for the 2023 Mexico Kitchen Appliances Products market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Kitchen Appliances Products analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
