Market Trends of Egypt Kitchen Hood Industry
This section covers the major market trends shaping the Egypt Kitchen Hood Market according to our research experts:
Surge in Disposable Income of Population
The total household spending growth in Egypt over 2020 to average 7.2%, a strengthening on the historic five-year average (2015-2019) of 6.4%. This growth is being supported by stabilising inflation levels, the inflation has come down to 6.8% in 2020, down from 9.4% in 2019. As a result of Egypt's easing inflation levels and attractive consumer profile (young and expanding population, and rising middle class), will allow them to spend on latest technologies and modifications in the Kitchen Hoods. Consumer income and spending are forecast to expand at a steady rate by 2030, thanks to accelerating economic growth, inflows of foreign investment, and lower unemployment. This is expected to support consumer income growth and drive expansion of the middle class. As a result of the middle-class growth, discretionary categories are forecast to expand at the fastest rate. This would increase the demand for the residential kitchen hoods.
Production of Innovative Kitchen Hoods
Rising consumer spending on technologically advanced kitchen appliances is fuelling the industry growth. Shifting consumer preferences toward modular kitchens will support the rising demand for kitchen hoods. Consumers across Egypt are making large investments in kitchen hoods to evade smoke & gases, further boosting the market statistics. Market leaders are also offering highly advanced kitchen hood systems for urban kitchens to cater to the growing demand. Major kitchen appliances such as range hoods and cooktop have become an integral part of daily activities. The overall demand for these kitchen appliances has increased among urban households owing to the rise in awareness of modern technologies, willingness to pay for comfort that simplify the work, and increase the user experience. The emergence of several local manufacturers has impacted and shaped the consumer buying behaviour owing to the price sensitivity and affordability among the consumers in Egypt. Thus, counterfeit brands are generally prevalent in Egypt where customers are highly price-sensitive.
