Groupe SEB and Vorwerk Making Moves. How is Europe Food Processor Market Responding?
Groupe
SEB and Vorwerk’s domination as appliance makers set to boost an already
competitive Europe food processor market
Groupe SEB sales hit 2.94 billion Euros for
the first two quarters of 2017, an increase of nearly 36% compared to the
previous corresponding period, with net profit jumping 33.7% to $83 million
Euros. Vorwerk’s premier appliance in the Europe food processor market, the
Thermomix, brought more sales to than its flagship Kobold vacuum cleaner. These
developments are increasingly making the Europe food processor market the next
hub for completion. TechSci debates the nuances:
Current
Scenario in the Europe Food Processor Market
As per TechSci Research report “Europe Food Processor Market, Competition
Forecast & Opportunities, 2012 – 2022”, Europe food processor market
stood at USD 3.98 billion in 2016, and is projected to grow at a CAGR of 7.4%,
in value terms, during 2016-2022, to reach USD 6.08 billion by 2022. Factors
such as technological advancements, product innovations and busy lifestyle of
consumers are majorly responsible for the promulgation of these devices. Urban
population are more likely to use these devices as compared with rural
population and a certain affinity towards homecooked food is also responsible
for the growth seen in the Europe food processor market.
On the back of said factors, Europe food
processor market is one of the fastest growing in terms of consumer appliances,
with the trend expected to continue over the next few years at the very least.
Consequently, top appliance makers in the world are watching this market with a
lot of expectation.
To request the sample report, please visit: https://www.techsciresearch.com/report/europe-food-processor-market-by-end-use-sector-residential-vs-commercial-by-working-capacity-below-1-4l-1-4l-2-5l-and-more-than-2-5l-by-power-less-than-400w-400-499w-etc-by-country-competition-forecast-opportunities/1096.html
Vorwerk
& Co. KG and Groupe SEB: The Two Major Competitors
On the back of a stellar two quarters,
Groupe SEB is aiming for organic sales growth exceeding 7% and, on the basis of
current exchange rates, an increase in published revenue of more than 30%. A
significant chunk of the growth is expected to come from its toils in the
Europe food processor market. While Groupe SEB has only subtly referenced the
Europe food processor market, Vorwerk & Co. KG are going all out for the
same. In 2015, Thermomix sales grew internationally by 50% to over 1.4 billion
Euros and Vorwerk is expected to sell around 1.35 million Thermomix units worldwide
this year. Thermomix sales in Germany in 2016, for example, grew at
approximately 20% is expected to drive Vorwerk's total sales beyond 4 billion
Euro, a record. Given that the premier appliance makers are sitting pretty at
the top of the food chain, the battle for the Europe food processor market will
be an interesting one in the coming time period.
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