Argentina Built-In Kitchen Appliances Market Overview, 2028

Argentina Built-In Kitchen Appliances Market Overview, 2028

Actual Market Research 31-12-2022 58 Pages Figures : 4 Tables : 10 Region : South America Country : Colombia Category : Consumer Goods & Services Appliances & Equipment

Argentina's market for built-in kitchen appliances has expanded significantly. Market participants intend to attract a large consumer base with the introduction of built-in steam ovens and built-in refrigerators with multiple compartments for storing various foods. Market participants are incorporating Bluetooth technology, finger touch, and swipe control capabilities into built-in kitchen appliances to give customers the ability to start, stop, or select other options to make cooking more enjoyable and less stressful. Modern built-in kitchen appliances can communicate with smartphones, giving users greater control and comfort. The built-in kitchen appliances market in Argentina is expected to grow rapidly in the coming years. According to the research report "Argentina Built-In kitchen appliances Market Overview, 2028," published by Bonafide Research, the market is expected to add USD 80.47 million by 2028. Rapid urbanization and rising consumer disposable income allow them to make investments in high-quality lifestyles. Additionally, over the next five years, it is anticipated that the demand for the Argentina built-in kitchen market will increase due to the rising popularity of frozen and ready-to-eat food products and the strong desire for the development of smart kitchens among customers. The number of working women has significantly increased as a result of the expansion of employment options and the empowerment of women. Working women have a strong desire for built-in kitchens since they can cook and clean kitchen appliances with less time and effort. Additionally, they enable the user to cook swiftly and effectively without making a mess in the kitchen. Based on consumer needs and available space, market participants are introducing cutting-edge and visually pleasing kitchen equipment to improve the appearance of kitchen areas. However, the expansion of the Argentina built-in kitchen appliances market in the forecast period may be hampered by high tax and import duties as well as the ongoing increase in the price of raw materials. Argentinean authorities recently implemented the energy efficiency requirements of Resolution 319/1999 concerning household electric ovens – including portable, built, and kitchen-incorporated ovens – classified under NCM 8516.60.00. Effective 90 days from the date of issuance of a notice of recognition of the first test laboratory and the first certification body, importers and domestic producers of subject merchandise will be required to certify their products for compliance with the energy efficiency requirements of standards IRAM 62414 1 and IRAM 62414 2 as well as those outlined in Resolution 1017/2021. Initially, the importer or domestic producer will be required to submit proof of initiation of the certification procedure and the corresponding test program, while a product certification will be required effective 210 days from the date of issuance of the aforementioned notice of recognition. The certification must be carried out following certification System 5, which is based on an evaluation of the manufacturer’s quality management system and the testing of samples taken from the production line. Argentina people used to go big shopping once a month for non –perishable foods and they go on a weekly trip for meat, vegetables, fruit, and other products as we can see that the people of Argentina goes to one or twice a month the food products are stored in refrigerators and there will be high demand for built-in refrigerators in Argentina. Effective 210 days from the date of issuance of the notice of recognition, certified electric ovens will be required to carry a self-adhesive energy efficiency label on the front of the oven following the requirements of standards IRAM 62414 1 and IRAM 62414 2. Additionally, the lower part of the label must bear the text “Res. ex S. I. C. y M. No 319/99” together with the name of the intervening certification body and the certificate number. Some flexibility is provided in instances where there is no space to include all of the required information. Built-in ovens, Electric stoves, and microwave ovens were sold in Argentina more than 1, 02,500 units of these products were sold in Argentina during the Q3 of 2022. According to World Bank In 2021, Argentina's population was 45.60 million, with 22.25 million men and 23.35 million women. More than 92.23. % of Argentina's population leaves in urban areas, while 7.6% leaves in rural areas. The country has a GDP of 511.15 billion and a per capita income of USD 23150. As we can see that more than 92.23% population of Argentina leaves in urban areas this creates a huge demand for built-in kitchen appliances in Argentina as most of the population leaves in urban areas which could be a major factor in the market growth of built-in kitchen appliances in Argentina. The market for built-in kitchen appliances is expanding as a result of Argentina's growing urbanization, the increasing number of working women, increasing consumer per capita income, and ongoing innovation in smart kitchen appliances. As built-in kitchen appliances made it easy to cook, clean, and store food, 50.01% of women in Argentina are work-oriented. This is one of the factors that will contribute to the growth of the built-in kitchen market in Argentina. Built-in kitchen appliances are costlier and are price sensitive for the people of Argentina because people of Argentina highly tend to be rational and conservative with their money and prefer to buy products that are strictly either necessary or cost-effective. This factor plays a restraining factor for the market growth of built-in kitchen appliances in Argentina. The increased use of door-in-door refrigerators as excellent energy savers is a recent market trend; thus, with today's advanced appliance technology, one can still run their refrigerator while conserving electricity. Look for Energy Star models if you want a refrigerator with features like a door-in-door. A refrigerator with a clear window on the front panel lets you see what's inside without opening the door, and it cuts cold air loss by nearly 50%. There are also refrigerators with five drawers for storing food and drinks, allowing users to pull one out and take what they need without releasing any chilly air. The increased demand for efficient space utilization is expected to drive market revenue growth. One of the most significant benefits of built-in appliances is their ability to save space. This innovative kitchen equipment, which includes everything from a built-in gas burner to a built-in chimney and is particularly useful in smaller kitchens with limited foundation and surface area, takes up space that cabinets would have. Because built-in appliances in a modular kitchen are flush against the wall, they have a clean, modern appearance. They are versatile and fashionable, and they look great in both traditional and contemporary kitchens. Furthermore, kitchen built-in appliances have a modern, sleek appearance that makes designing a seamless, modern kitchen simple. They also provide sophistication and better working conditions. As a result, increased demand for built-in kitchen appliances is driving up demand for optimal space utilization, which is expected to drive market revenue growth. The typical power consumption of an electric oven is from 2,000 to 5,000 watts, whereas that of an electric stove is about 3,000 watts. The amount of electricity needed to operate larger burners on an electric stovetop is higher. With burner sizes ranging from 1,200 to 3,000 watts, there are many different types of cooktops. With an average annual consumption of 408 kWh, a refrigerator-freezer is usually the kitchen appliance with the highest electricity use. Although electric hobs typically outperform gas hobs in terms of efficiency, their operating costs can be higher due to the higher cost of electricity (0.71 kWh per usage). Dishwasher usage uses 1.44 kWh of energy each time while being convenient (at 65 C). Power consumption for range hoods ranges between 70 and 150 watts. A range hood uses about 25 kWh of energy per year when used as frequently as a standard electric range. During the projection period, the commercial segment is anticipated to contribute significantly to revenue growth. The majority of commercial kitchen operators have trouble running their tiny facilities. Fitting all the equipment into a small kitchen preparation area is a hassle; thus, built-in kitchen appliances are helpful in this circumstance because these gadgets are made to perform big jobs and help manage more space. For instance, using a notable business machine instead of two or three would be needless. You can utilize every food preparation instrument the same way, including benchtop catering equipment and commercial refrigerators. These devices are designed to take up less space while finishing the job on time. Covid-19 Argentina's built-in kitchen market declined during the COVID-19 period on the back of disturbances in the supply chain and discontinuation of production. Moreover, consequent disruptions in the operations during the lockdown period in the country are likely to dip the sales revenue for many of the top Built-In kitchen appliances brands in the near term and significantly contribute towards the slow growth of Argentina's Built-In kitchen appliances market in the coming years. Considered in this report • Geography: Argentina • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Argentina's Built-In kitchen appliances market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Built-In Ovens • Built-In Hobs • Built-In Hoods • Built-In Refrigerators • Built-In Dishwashers • Others (Trash can cabinet, Built-in coffee maker, etc.) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Built-In kitchen appliances industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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