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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.


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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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Relevant Reports

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,

Consumer Durables | Jul, 2017

Increasing household disposable income, improving standard of living, and growing need for convenient and technologically advanced appliances to drive Europe food processor market through 2022

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