Current situation and prospects of kitchen utensils

Since the 1980s, in just over 20 years of development, the kitchenware industry has become a sunrise industry, entering a qualitative transformation stage from rapid growth to gradual maturity.
China has a population of about 1.3 billion, and as an essential household item, the market space for kitchenware is extremely large. The sales volume of the Chinese kitchenware market is increasing at a rate of 35%.
In 2006, all household kitchen appliance manufacturing enterprises above designated size in China achieved a total industrial output value of 71223029 thousand yuan, an increase of 27.71% compared to the same period in 2005; The cumulative product sales revenue for the whole year was 66504844 thousand yuan, an increase of 21.61% compared to the same period in 2005. As of the end of December 2006, there were 489 enterprises above designated size in the industry.
In 2007, all household kitchen appliance manufacturing enterprises above designated size in China achieved a total industrial output value of 11075322 thousand yuan, an increase of 33.88% compared to the same period in 2006; From January to February 2007, the cumulative product sales revenue was 10060189 thousand yuan, an increase of 26.12% compared to the same period in 2006. From January to February 2007, the cumulative total profit was 153462 thousand yuan, an increase of 27.17% compared to the same period in 2006; As of the end of February 2007, there were 528 enterprises above designated size in the entire industry.
From January to October 2008, all household kitchen appliance manufacturing enterprises above designated size in China achieved a total industrial output value of 11075322 thousand yuan, an increase of 33.88% compared to the same period in 2007.
The Chinese kitchenware industry has seen some new development trends as follows:

The development of information technology has brought opportunities and challenges to enterprises. In terms of opportunities, information technology helps optimize enterprise processes, reduce management costs, and gain advantages in competition. And those enterprises that cannot use information technology to improve processes are clearly at a disadvantage in competition.
The product structure is evolving towards aesthetics, fashion, environmental protection, and low energy consumption. Low value-added products must continue to withstand the impact of domestic peers and deeper competition.
Changes are brewing in the distribution channels. With the rise of the home appliance chain industry in recent years, it has become an important channel for sales in the current home appliance industry. However, due to the high entry and operating costs of home appliance chain stores, some manufacturers are seeking other ways, such as entering the building materials city and the overall kitchen display hall.
The competition in the future kitchenware market will become more intense, and the entire industry has reached a stage of reshuffling. But most enterprises are small in scale and in difficult circumstances. The lucrative profits have led some large home appliance companies to compete in the kitchen and bathroom market, rapidly escalating competition nationwide. Especially, many multinational companies have made a comeback with their technological, brand, and marketing advantages, making the competition for domestic kitchenware more intense.
With the rapid and steady growth of China's national economy, there have been significant changes in the housing demand of urban residents, which has played a significant driving role in the development of related industries, including the kitchenware industry. At the same time, the vast rural market needs to be developed, coupled with the demand for urban residents to upgrade, the demand for kitchenware will maintain a steady growth momentum.