Boston, MA -- (SBWIRE) -- 07/29/2014 -- In 2013, irons grew by 8% in terms of volume to reach 949,000 units, while current value sales grew by 12% to record VND923 billion. In comparison with 2012's performance with volume growth of 4% and value growth of 7%, this is a remarkable recovery due to the emerging trend of TV home shopping. Many new technologies such as standing steam ironing and dry steam ironing are advertised on TV home shopping channels like Lotte Dat Viet Home Shopping and SCJ TV Home Shopping, which help stimulate such a mature category like irons in urban areas of Vietnam.
Philips Electronics Vietnam Co Ltd led irons with volume share of 35%, followed by Panasonic Vietnam Co Ltd with 23% and Tara JSC with 12%. The remaining 30% share was strongly fragmented with other less popular brands like Pensonic and Delonghi present.
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Irons is expected to record a volume CAGR of 5% over the forecast period. In comparison with 2013's performance, forecast growth will experience a relatively sluggish trend. The major reason is because irons' future growth will rely very much on the potential of rural consumers who tend to choose lower-priced products.
Discover the latest market trends and uncover sources of future market growth for the Irons industry in Vietnam with research from Euromonitor's team of in-country analysts.
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The Irons in Vietnam 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 Irons in Vietnam?
- What are the major brands in Vietnam?
- What is the most common cooking appliances in Vietnam?
- Has there been a shift to higher unit price built-in products?
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