New Consumer Goods market report from Euromonitor International: "Microwaves in Colombia"

Boston, MA -- (SBWire) -- 02/03/2015 --Microwaves in Colombia is a category which currently faces a very challenging situation. Amidst low penetration, the category is consistently recording higher volume than value growth, proving that the majority of consumers are still more interested in basic reheating and heating functions using standard microwaves than they are in using combination microwaves to prepare meals from scratch. Microwave cooking is still neglected in Colombian kitchens and heating, reheating and defrosting food remain the most commonly used functions of microwaves in the country. Amidst this rather adverse environment, the majority of the various programmes and functions featured on the control panels of microwaves in Colombia end up being underutilised, even when consumers are preparing very familiar dishes such as beans and rice. Public acceptance of combination microwaves is rising however thanks to the grilling functions of these appliances, but the category remains dominated by basic products with basic functions. There are some factors which encourage the rather negative attitudes of Colombian consumers towards microwaves. This is essentially a combination of a lack of education about the potential usefulness of microwaves, various cultural tropes related to the quality of microwave-cooked food and the lack of availability of microwave-safe cookware and a general lack of knowledge of the techniques for successful microwave cookery.

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Competitive Landscape

HACEB is set to remain the leading brand in microwaves in Colombia in 2014 with a volume share of 24%. HACEB?s microwaves are mostly manufactured by Dong Bu Daewoo Electronics Corp at its production facility in Mexico, meaning that they attract 0% import tariffs thanks to the free trade agreement which is currently in place between Colombia and Mexico. The leading brands operating in microwaves in Colombia such as HACEB and Whirlpool continue to focus on more basic models in order to maximise volume sales in the category in which demand is focused heavily on low-priced basic models.

Industry Prospects

As microwaves in Colombia approaches maturity during the forecast period, the category is likely to see the launch of more high-end products, resulting in more dynamic value growth than what was seen during the review period. In addition, it is expected that many of the people who purchased cheap, basic microwaves in Colombia during the review period will replace these basic models with more advanced and more sophisticated models with higher price tags during the forecast period, a trend which is set to be driven by increasing levels of consumer awareness and education about the usefulness of microwaves. However, it is hard to imagine that Colombia will see some kind of ?microwave revolution? during the forecast period. This is set to be not least due to the fact that microwaves are likely to remain unpopular are money high proportion of the Colombian population due to the fact that basically cannot afford them or they cannot afford the space in the kitchens to store them.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Microwaves industry in Colombia 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 Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Microwaves in Colombia 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 Colombia?
- What are the major brands in Colombia?
- 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

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