South Korea's kitchen appliance market is anticipated to grow at a CAGR of 6.2% during the forecast period. In the last decades, the country’s GDP has developed significantly, and the per capita GDP of the people has come near to the developed economies. In October 2019, the country also announced to opt-out from the WTO, to take advantage of a developing economy. Increased per capita income, high brand awareness, and increasing adoption of smart devices also in the kitchen are some of the major factors for the growth of the South Korea kitchen appliance industry. 

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The South Korea kitchen appliance market is segmented based on product type, application, and distribution channels. Based on the product type, the market is sub-segmented into refrigerators, microwave, mixer & juicer and food processor, stove & hobs, dishwasher, water purifier, coffee machines, and other. Refrigerators are expected to maintain a major market share during the forecast period. Based on the application, the market is sub-segmented into a residential kitchen and commercial kitchen. Further, based on the distribution channel the market is bifurcated into the online channel and offline channel. 

Multiple global and regional players are operating in the market however a large chunk of the market share goes to homegrown two multinational companies that are LG Electronics Inc., and Samsung Electronics Co. Ltd. However, with the emergence of an e-commerce website, other companies also have the opportunity to grab a significant market share in the country and to remain competitive in the market. 

Research Methodology

The market study of the South Korea kitchen appliance market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for consumer appliance manufacturers, kitchen appliance manufacturers & distributors, start-ups, seed funder, venture capitalists, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. South Korea Kitchen Appliance Market Research and Analysis by Product Type
2. South Korea Kitchen Appliance Market Research and Analysis by Application
3. South Korea Kitchen Appliance Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the South Korea kitchen appliance market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the South Korea kitchen appliance industry.
• Insights about market determinants which are stimulating the South Korean kitchen appliance market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.