‘Home appliance sector to continue expanding despite weaker economy’
PETALING JAYA: The home appliance industry is expanding in Malaysia despite the bearish economic backdrop.
Groupe SEB (Tefal) senior product manager Cheok Kian Sheong said industry growth had been positive in the last few years.
“The market for domestic appliances will continue to grow. People want to have modern appliances in their house.
“They can afford premium appliances because of higher household income compared to five or 10 years ago. Malaysians will always look for appliances for dayto-day cooking,” he said.
Revenue in the small domestic appliances segment, which include products such as cookware, is expected to reach US$142 million (RM590 million) in Malaysia this year.
It is expected to expand at a compound annual growth rate (2018-2022) of 12.7 per cent, resulting in a market volume of US$229 million by 2022.
The major domestic appliances segment, which include air-conditioners, televisions, refrigerators and freezers, was worth more than US$1 billion and growing year-on-year, Cheok told NST Business on the sidelines of the launch of the Rice Day 2018, here, last week.
United Kingdom-based Groupe SEB is a manufacturer of small domestic appliances.
Cheok said Malaysia was an important market for Groupe SEB’s Tefal line.
Groupe SEB has six brands (including Krups, Rowenta, Moulinex, Lagostina and AllClad) but only Tefal is available in Malaysia.
Tefal created the first nonstick frying pan in 1954.
It is the world’s No. 1 household non-stick cookware brand as well as a world leader in pressure cookers, electrical cooking appliances, food and beverage preparation, irons and scales.
“These are our best selling products. Not many know this but our rice cooker is the most intelligent in the market. The rice cooker has technology that maximises the rice cooking process,” said Cheok.
The Rice Day 2018 was organised for the second year running by Tefal Malaysia and Jasmine Food Corp, and supported by Diabetes Malaysia, National Heart Institute and Padiberas Nasional Bhd.
It is aimed at educating the public about the benefits of rice.
Groupe SEB Malaysia country manager Jack Wong said: “For many generations, rice has been a firm Malaysian favourite. However, there are misconceptions that have resulted in people becoming afraid to consume rice.
“Our aim is to spread the message to Malaysians that rice is good for health, and educate the public that the tradition of eating rice is worth carrying on.”