Brazil Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Brazil Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The market has generated a revenue of more than USD 20 billion in the current year and is poised to achieve a CAGR of more than 3.0% for the forecast period.

The emerging middle class and an increase in the customer's purchasing power parity are expected to drive the market. Though Brazil's fluctuating economic uncertainty has made customers to be highly selective about their purchasing decisions, the technologically advanced product categories offered by the key manufacturers such as Whirlpool, Electrolux, LG, etc., are attracting customers in a large scale. The demand for multi-functional products than single utility products is on the rise in Brazil along with the growing demand for less energy and water-conserving appliances.

The sales volume of the small appliances is on the rise, owing to their shorter lifespan, and, in most cases, consumers are more willing to exchange their small appliances for a newer model. Even with a moderate internet penetration rate which was more than 70% in current year, the online channel of distribution is low and accounts for approximately more than 10%, owing to the high preference given to physical retail stores by the consumers. The number of customers who prefer to check for different appliances online to decide what they should purchase is high in the country.

Brazil Home Appliances Market Trends

Increasing Kitchen and Small Appliances Sales are Shaping the Market

Increasing concerns of people to cook healthy are driving the market for Kitchen and small appliances. The changing face of the economy is also enabling the customers to spend a little on the products that can ease their daily activity. The market for cooking appliances is increasing. The changing family size, the younger generation moving to urban, increasing interest in health and wellness, and the growing number of single-person households is also driving the market for these cooking and small kitchen appliances.

E-Commerce Platforms are Driving the Market

There is a great scope for an increase in online-based sales of home appliances. The growth of the e-commerce sector is expected to be supported by rising internet penetration and smartphone use. This increase in E-commerce can drive the electronics sales such as home appliances and other domestic appliances. The rising urbanization and modernization are further driving the growth of e-commerce.

Brazil Home Appliances Industry Overview

The report covers major international players operating in Brazil Home Appliances Market. The home appliances market in Brazil holds a great scope for innovative products, making a difference from the existing ones in terms of quality. The market also holds a great scope for online retailers to penetrate by providing advanced services and additional value-added services. Some key players in the market are Whirlpool Corporation, Electrolux AB, LG Electronics, Samsung Electronics, and Panasonic Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support