China’s Induction Cooker Market Size

China’s Induction Cooker Market Size

China’s Induction Cooker market has entered in to a mature stage, from the incremental market to the stock market, with an average annual compounding rate of 0.21% from 2017 to 2018. In 2018, Due to the pull of the online market, the sales of the induction cooker in market has been increased by 6.01% year-by-year, but then to 2020, the sales of the electric kettle market decreased year by year, from 3.244 billion yuan in 2018 to 3.079 billion yuan.  Optimistically, the sales volume of the electric kettle market is growing steadily, from 13.3929 million units in 2017 to 15.3517 million units in 2020. The opposite trend of sales and sales volume is due to the substantial growth of online channels and the reduction of product prices with the advantage of e-commerce channels. In 2020, the average sales price of online channels is only about half of that of offline channels, and it continues to decline, which drives the downward adjustment of the overall average price of the product.