Personal Weighing Machine Market

The article provides detailed insights into the global personal weighing machine market, forecasting an upward consumption trend over the next eight years. Market performance is expected to grow at a CAGR of +1.4% in volume and +3.7% in value from 2022 to 2030. China remains the largest consumer and producer, with significant growth rates. The United States, Germany, and India are also key players in the market. Import and export statistics show fluctuations in volume and value, with China dominating the export market. Prices vary by country, with Germany having the highest export price. Overall, the article offers a comprehensive analysis of the personal weighing machine industry.

Market Forecast

Driven by increasing demand for personal weighing machines worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 307M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Personal Weighing Machines

Global personal weighing machine consumption soared to 274M units in 2022, rising by 16% against the previous year's figure. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +78.9% against 2015 indices. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global personal weighing machine market size expanded sharply to $2.3B in 2022, growing by 12% against 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). In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.3% against 2015 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

China (77M units) remains the largest personal weighing machine consuming country worldwide, accounting for 28% of total volume. Moreover, personal weighing machine consumption in China exceeded the figures recorded by the second-largest consumer, the United States (31M units), threefold. India (23M units) ranked third in terms of total consumption with an 8.4% share.

In China, personal weighing machine consumption increased at an average annual rate of +9.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+4.6% per year) and India (+5.8% per year).

In value terms, the largest personal weighing machine markets worldwide were China ($466M), Japan ($301M) and the United States ($225M), with a combined 44% share of the global market.

China, with a CAGR of +10.4%, saw the highest growth rate of market size in terms of the main consuming countries 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 2022 were Germany (106 units per 1000 persons), Japan (92 units per 1000 persons) and the United States (92 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Russia (with a CAGR of +10.7%), 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 was estimated at 298M units in 2022, growing by 5.8% against the previous year's figure. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 41%. Global production peaked at 307M units in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, personal weighing machine production expanded slightly to $2.3B in 2022 estimated in export price. In general, production showed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 32% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in the immediate term.

Production By Country

China (223M units) remains the largest personal weighing machine producing country worldwide, accounting for 75% of total volume. Moreover, personal weighing machine production in China exceeded the figures recorded by the second-largest producer, India (14M units), more than tenfold. The third position in this ranking was held by Pakistan (13M units), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +6.4%. The remaining producing countries recorded the following average annual rates of production growth: India (+1.6% per year) and Pakistan (+7.5% per year).

Imports

World Imports of Personal Weighing Machines

In 2022, after five years of growth, there was significant decline in purchases abroad of personal weighing machines, when their volume decreased by -23.6% to 153M units. Overall, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Global imports peaked at 200M units in 2021, and then declined markedly in the following year.

In value terms, personal weighing machine imports contracted significantly to $1B in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. Global imports peaked at $1.3B in 2021, and then declined sharply in the following year.

Imports By Country

In 2022, the United States (30M units), distantly followed by Russia (12M units), Germany (10M units) and India (8.9M units) were the largest importers of personal weighing machines, together achieving 40% of total imports. France (6.6M units), Brazil (6M units), the Netherlands (5.7M units), the UK (4.8M units), Japan (4.7M units), Spain (4.4M units), Italy (4.3M units), Poland (3.7M units) and Austria (2.9M units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to personal weighing machine imports into the United States stood at +4.4%. At the same time, India (+23.0%), Russia (+11.3%), Austria (+11.2%), Poland (+10.2%), Brazil (+8.0%), Spain (+5.1%), the Netherlands (+3.0%), Japan (+3.0%), Germany (+1.4%) and France (+1.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +23.0% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the UK (-3.8%) illustrated a downward trend over the same period. While the share of India (+4.7 p.p.) and Russia (+3.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of France (-1.5 p.p.), Germany (-2.2 p.p.) and the UK (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($216M) constitutes the largest market for imported personal weighing machines worldwide, comprising 21% of global imports. The second position in the ranking was held by Germany ($100M), with a 9.8% share of global imports. It was followed by France, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +3.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.4% per year) and France (+2.5% per year).

Import Prices By Country

The average personal weighing machine import price stood at $6.7 per unit in 2022, rising by 3.1% against the previous year. In general, the import price, however, continues to indicate a slight decrease. Over the period under review, average import prices attained the peak figure at $7.6 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($9.8 per unit), while Brazil ($1.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Personal Weighing Machines

In 2022, after five years of growth, there was significant decline in overseas shipments of personal weighing machines, when their volume decreased by -27.9% to 177M units. In general, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 56%. The global exports peaked at 245M units in 2021, and then declined dramatically in the following year.

In value terms, personal weighing machine exports declined notably to $1.3B in 2022. Overall, exports, however, posted resilient growth. The growth pace was the most rapid in 2020 when exports increased by 54% against the previous year. Over the period under review, the global exports reached the maximum at $1.7B in 2021, and then dropped notably in the following year.

Exports By Country

China dominates exports structure, amounting to 146M units, which was near 82% of total exports in 2022. Germany (5.5M units), the Netherlands (4.9M units) and Poland (3.7M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to personal weighing machine exports from China stood at +5.0%. At the same time, Poland (+33.6%), the Netherlands (+5.2%) and Germany (+2.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.6% from 2012-2022. While the share of Poland (+1.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($935M) remains the largest personal weighing machine supplier worldwide, comprising 73% of global exports. The second position in the ranking was held by Germany ($76M), with a 5.9% share of global exports. It was followed by the Netherlands, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +7.7%. In the other countries, the average annual rates were as follows: Germany (-0.1% per year) and the Netherlands (+2.8% per year).

Export Prices By Country

In 2022, the average personal weighing machine export price amounted to $7.3 per unit, with an increase of 3.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 46%. The global export price peaked at $12 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($14 per unit), while China ($6.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform