Boston, MA -- (SBWIRE) -- 07/10/2014 -- Microwaves was in a somewhat vulnerable stage at the end of the review period, where there was a constant and increasing need for the product, but was easily replaceable at the same time. Microwave function is added in most multi-purpose ovens these days, lowering the demand for microwaves and a shift to towards the latter. In addition, the microwave is one consumer appliance which consumers do not feel reluctant about using second hand or purchasing online.
Domestic manufacturers lead microwaves. The top five players are domestic companies, which held 98% volume share as of 2013. LG Corp led domestic manufacturers with 48% volume share. Tong Yang Magic Co Ltd gained share with economic price advantage and simple function.
Double-income households are growing and the increase of working women is expected to keep up the consumer demand for microwaves. However, there is a potential threat for microwaves, as it is often offered as a complimentary gift for those that purchase a full set of major appliances. For instance, if a consumer purchases four major appliances; refrigeration appliances, home laundry appliance, air treatment appliance, and television, the retailer offers a microwave for free. Such bulk purchases are often made by newly wedded couples, who most likely need microwaves as the younger generation show a high percentage of double incomes.
View Full Report Details and Table of Contents
Discover the latest market trends and uncover sources of future market growth for the Microwaves industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Microwaves industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Microwaves in South Korea market research report includes
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as
- What is the market size of Microwaves in South Korea
- What are the major brands in South Korea
- How are consumer cooking convenience trends going to affect the microwave industry over the medium term
- Has there been a shift from freestanding microwaves to built-in microwaves
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
Product coverage: Built-in Microwaves, Freestanding Microwaves.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports
- Microwaves in South Africa
- Consumer Appliances in South Korea
- Consumer Appliances in South Africa
- Hotels in South Korea to 2017: Market Databook
- Travel and Tourism in South Africa to 2017
- The Future of the Haircare Market in South Africa to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- The Future of the Haircare Market in South Korea to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- Travel and Tourism in South Korea to 2017
- The Future of the Male Toiletries Market in South Korea to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- Asia-Pacific Nutraceuticals Industry Outlook to 2017 - India and China to Lead Growth