Global Personal Weighing Machines Market to Witness Steady Growth with CAGR of +1.7% through 2030

IndexBox has just published a new report: World - Personal Weighing Machines - Market Analysis, Forecast, Size, Trends And Insights.

The global market for personal weighing machines is expected to see steady growth, with a projected increase in market volume to 328M units and market value to $2.9B by the end of 2030. Anticipated CAGR rates suggest a positive outlook for the industry, driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for personal weighing machines worldwide, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.7% for the period from 2023 to 2030, which is projected to bring the market volume to 328M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2023 to 2030, which is projected to bring the market value to $2.9B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Personal Weighing Machines

In 2023, approx. 291M units of personal weighing machines were consumed worldwide; stabilizing at the year before. Over the period under review, consumption showed a buoyant increase. Global consumption peaked in 2023 and is likely to see gradual growth in the near future.

The global personal weighing machine market value reduced modestly to $2.2B in 2023, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a resilient increase from 2013 to 2023: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by +94.5% against 2013 indices. Over the period under review, the global market reached the peak level at $2.2B in 2022, and then fell modestly in the following year.

Consumption By Country

China (97M units) remains the largest personal weighing machine consuming country worldwide, comprising approx. 34% of total volume. Moreover, personal weighing machine consumption in China exceeded the figures recorded by the second-largest consumer, the United States (37M units), threefold. The third position in this ranking was held by India (26M units), with an 8.8% share.

In China, personal weighing machine consumption increased at an average annual rate of +10.7% over the period from 2013-2023. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+6.8% per year) and India (+5.9% per year).

In value terms, the largest personal weighing machine markets worldwide were China ($567M), India ($284M) and the United States ($230M), together accounting for 48% of the global market.

Among the main consuming countries, China, with a CAGR of +11.3%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of personal weighing machine per capita consumption in 2023 were the United States (109 units per 1000 persons), South Korea (98 units per 1000 persons) and Germany (95 units per 1000 persons).

From 2013 to 2023, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Brazil (with a CAGR of +13.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Personal Weighing Machines

Global personal weighing machine production reached 319M units in 2023, surging by 3.4% compared with the previous year. In general, production posted a strong expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 39%. Global production peaked at 330M units in 2021; however, from 2022 to 2023, production remained at a lower figure.

In value terms, personal weighing machine production expanded modestly to $2.5B in 2023 estimated in export price. Over the period under review, production posted a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 32% against the previous year. Global production peaked in 2023 and is likely to continue growth in the near future.

Production By Country

The country with the largest volume of personal weighing machine production was China (262M units), accounting for 82% of total volume. Moreover, personal weighing machine production in China exceeded the figures recorded by the second-largest producer, India (15M units), more than tenfold.

In China, personal weighing machine production expanded at an average annual rate of +7.4% over the period from 2013-2023. In the other countries, the average annual rates were as follows: India (+1.2% per year) and Japan (+12.3% per year).

Imports

World Imports of Personal Weighing Machines

In 2023, global imports of personal weighing machines rose significantly to 168M units, growing by 10% against the previous year's figure. In general, total imports indicated a prominent expansion from 2013 to 2023: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by -14.0% against 2021 indices. The pace of growth was the most pronounced in 2020 with an increase of 20%. Over the period under review, global imports attained the peak figure at 196M units in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, personal weighing machine imports reduced modestly to $1B in 2023. Overall, total imports indicated pronounced growth from 2013 to 2023: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by -22.6% against 2021 indices. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Global imports peaked at $1.3B in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports By Country

In 2023, the United States (37M units) represented the main importer of personal weighing machines, making up 22% of total imports. India (10M units) ranks second in terms of the total imports with a 6.2% share, followed by Brazil (6%), Russia (5.9%), Germany (5.1%) and Greece (4.6%). France (6.7M units), Japan (5.5M units), the UK (5.3M units), Italy (3.9M units), the Netherlands (3.8M units), Poland (3.8M units) and Spain (3.4M units) followed a long way behind the leaders.

From 2013 to 2023, average annual rates of growth with regard to personal weighing machine imports into the United States stood at +6.8%. At the same time, Greece (+33.6%), India (+24.7%), Brazil (+14.2%), Poland (+10.1%), Russia (+8.8%), Japan (+6.8%), Spain (+2.2%) and France (+1.6%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in the world, with a CAGR of +33.6% from 2013-2023. Italy experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.4%), Germany (-2.2%) and the UK (-3.3%) illustrated a downward trend over the same period. From 2013 to 2023, the share of India, Greece, Brazil, the United States, Italy and Russia increased by +5, +4.1, +3.3, +2.8, +2.3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($218M) constitutes the largest market for imported personal weighing machines worldwide, comprising 22% of global imports. The second position in the ranking was taken by Germany ($80M), with a 7.9% share of global imports. It was followed by France, with a 6.3% share.

From 2013 to 2023, the average annual growth rate of value in the United States stood at +3.4%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and France (+2.8% per year).

Import Prices By Country

The average personal weighing machine import price stood at $6 per unit in 2023, which is down by -12.9% against the previous year. Over the period under review, the import price saw a perceptible decline. The growth pace was the most rapid in 2022 when the average import price increased by 3.2% against the previous year. Global import price peaked at $7.7 per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($9.5 per unit), while Brazil ($919 per thousand units) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Poland (+4.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Personal Weighing Machines

Global personal weighing machine exports expanded markedly to 197M units in 2023, increasing by 13% compared with the previous year. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. Over the period under review, the global exports reached the peak figure at 245M units in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, personal weighing machine exports amounted to $1.3B in 2023. In general, exports showed resilient growth. The growth pace was the most rapid in 2020 with an increase of 54% against the previous year. Over the period under review, the global exports attained the maximum at $1.7B in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports By Country

China dominates exports structure, recording 165M units, which was near 84% of total exports in 2023. The following exporters - Greece (6.8M units), Germany (5.2M units), the Netherlands (3.8M units) and Poland (3.8M units) - together made up 9.9% of total exports.

From 2013 to 2023, average annual rates of growth with regard to personal weighing machine exports from China stood at +5.9%. At the same time, Greece (+74.8%), Poland (+36.4%), the Netherlands (+5.4%) and Germany (+1.1%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in the world, with a CAGR of +74.8% from 2013-2023. From 2013 to 2023, the share of Greece and Poland increased by +3.4 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($936M) remains the largest personal weighing machine supplier worldwide, comprising 73% of global exports. The second position in the ranking was taken by Germany ($80M), with a 6.2% share of global exports. It was followed by the Netherlands, with a 3.4% share.

In China, personal weighing machine exports increased at an average annual rate of +7.1% over the period from 2013-2023. In the other countries, the average annual rates were as follows: Germany (-0.1% per year) and the Netherlands (+4.1% per year).

Export Prices By Country

In 2023, the average personal weighing machine export price amounted to $6.5 per unit, shrinking by -11% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 47% against the previous year. The global export price peaked at $12 per unit in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Germany ($15 per unit), while Greece ($1.3 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Poland (+1.9%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform