[PDF] Egypt Built-in Refrigerator Market Analysis

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EGYPT BUILT-IN REFRIGERATOR MARKET OUTLOOK

INDUSTRY LEADER: Caroline Geise Global Head of Consumer Goods & Retail

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MARKET OUTLOOK T

he demand for frozen products have increasing changed the

lifestyles of people and rapid urbanization.

Changing lifestyles coupled with urbanization is leading the growth of built in appliances in Egypt.

Rapid growth in retail sectors, increase in hypermarkets further boost the sales of commercial refrigeration, thereby being a higher replacement cost. It is analyzed to have high costs.

Advancement in technology and the rise in the hotel industry have to lead to the greater rise of basic amenities of life.

The key players in the sector manufacturing refrigerators are Daikin, Panasonic, and William refrigerators.

There has been a positive outlook in the production in the consecutive years. As prices witnessed significant growth in 2018, consumers became increasingly aware of their spending habits, forcing them to reconsider purchasing a large appliance. They attempted to buy the best appliance they could for their budget. El Araby Group has continued to prove its capability of retaining its leadership of refrigeration appliances.

Egypt Built-in Refrigerator - Market Size (USD Million), 2017-2025

Source: Š2020 Goldstein Market Intelliigence

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SMART KITCHEN OFFERING PREMIUM CARE Premium Kitchen Appliances becoming a Mark of Luxury

Consumer appliances majors are eying European kitchens for the next phase of growth. Consistent high growth over the past few years is prompting companies to focus on premium kitchen appliances. Typically modular kitchens have four to five built-in appliances like refrigerator, dishwasher, oven, hob and hood, warming drawer and microwave.

The recent spurt in growth in the segment is attributed to changing lifestyles from joint families residing in houses to nuclear families in premium apartments. Better availability of such products and consumers moving up the socio-economic strata are the other factors driving growth in the segment.

Global home appliances leader Samsung has opened exclusive franchise stores for premium appliances in major countries.

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As kitchens are increasingly becoming a part of the drawing room now, demand for well-furnished kitchens is also growing. This adds to the sale of premium items.

According to industry estimates, the segment is expected to grow at 15-20 per cent per annum for the next few years. The growing upscale urban customer has travelled the world and seeks the same level of premium products that are available in global markets. A surge in demand prompted the company to launch Cuisine Regale, which offers premium kitchen furnishing costing more than USD 11,155. The increasing popularity of ready-to-move furnished apartments is supporting the industry too. Architects and premium home builders are the ones who influence buyers for these products. So it is always helpful to work with them.

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EGYPT ECONOMIC OVERVIEW Egypt’s economic growth has been robust, averaging 5.3 percent in FY2017/18; a rate that was sustained through Q1-FY2018/19, driven by an expansion in the gas extractives, tourism, manufacturing, construction and ICT sectors. Private investment is picking up and net exports are improving. There is however evidence that non-oil private activities continue to be hampered by the cumbersome business environment, including nontariff measures and poor institutional capacity at the borders that constrain trade. Consequently, job creation remains modest.

Egypt GDP Growth Rate, (%)2016-2019

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Economic growth is expected to reach 6 percent in the medium term, as key economic sectors continue to recover. Fiscal consolidation will be helped by an expected increase in tax revenues with accelerating growth and the envisaged tax administration reforms, and as energy subsidy reforms continue.

Yet, debt servicing is expected to remain a burden on the budget, therefore hindering larger social spending, notably on health and education..

Egypt’s Inflation Rate, 2015-2019(%)

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About the Industry Leader

❝The revolution has come to Consumer goods and retail. Digital provider from online retailers to ride-hailing apps have led customers to expect on-demand, instant, customized services and healthcare will be no different. We believe that success in the current environment requires that players understand the key trends reshaping the industry and then make strategic choices about how—and, equally important, where—to operate.

❞

-Caroline Geise Global Head of Consumer Goods & Retail

+44-7520-6444-82

Caroline is the senior consumer goods & retail consumer expert at Goldstein Intelligence Group (GIG). Mrs. Geise has extensive consumer goods & retail consulting industry experience, specializing in strategy development, transformation, and enablement for payer and provider organizations.

Before joining Goldstein Intelligence Group, she has spent more than a decade working closely with organisations in the consumer goods sector to shape and execute growth options, performance enhancement, and risk diminution.

Her focuses on helping Goldstein Intelligence Group’s consumer goods & retail clients to transfigure their business and operations to ramp up the plans and execute advanced and disruptive technologies.

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About Goldstein Intelligence Group (GIG)

Goldstein Market Intelligence helping businesses to be successful at strategy and take informed decisions to grow the business in the future. Goldstein Market Intelligence is one of the leading professional services firms, providing Intelligence Services, Consulting & Advisory, and research-related services to clients. We, at Goldstein Intelligence Group (GIG) practice, work side by side with chief executives and their teams to create effective strategies and secure alignment across the organization. Goldstein Intelligence Group (GIG), a network of worldwide professional services firms, as a leading group with a strong commitment to establishing itself as a truly global-minded professional firm that can provide professional services across the world.

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