New Study: Microwaves in Mexico

In 2015, microwaves posted retail volume growth of 8%. Although still healthy, this was a weaker performance than the 12% increase registered in 2014. The category’s slowdown was likely due to many consumers having already taken advantage of retailer promotions in 2014 as the economy started to recover. The category’s healthy growth in 2015, however, was driven by manufacturers’ new product developments and still fairly low household penetration of 30%, with there remaining significant room for further growth. These appliances are also increasingly finding their way into offices so as to allow workers to prepare hot snacks or meals at lunch time. Growth was also supported by the government’s energy-saving initiatives.

Competitive Landscape

The leading company in microwaves in 2015 was Dongbu Daewoo Electronics México SA de CV with a retail volume share of 30%, very closely followed by LG Electronics México SA de CV with 29%. Domestic player Controladora Mabe SA de CV ranked third with 11%. The strength of the two leading players can be attributed to their ongoing focus on innovation and new product development. Both also benefit from strong brand awareness and the offer of stylish and attractive designs as well as multi-functional products. LG is also strong in the area of marketing and promotions. The leading domestic player Mabe benefits from offering the most affordable prices, although the company lost share in 2015 as consumers looked for more advanced models.

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Industry Prospects

Over the forecast period the category is expected to register a retail volume CAGR of 5% to exceed sales of two million units by 2020. This performance will be in line with, or even slightly better than, that of the review period. Growth will be largely driven by the obesity crisis in the country and Mexicans thus looking for healthier food preparation methods.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Microwaves industry in Mexico with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Microwaves industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

The Microwaves in Mexico market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

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