The global Microwave Oven Market is expected to reach value of US$ 2.72 Bn by the end of 2031 It is estimated to expand at a CAGR of 6.9% from 2022 to 2031.
Use of Microwave Oven:
Food is heated and cooked in a microwave oven by exposing it to electromagnetic radiation. While the food spins inside the oven and generates thermal energy through dielectric heating, the radiation is restricted to the microwave frequency range. These devices often have residential and business applications and range in price.
It might be difficult for well-known restaurant chains, canteens, and cafeterias to prepare food for large crowds. Furthermore, it becomes impracticable to satisfy these demands by keeping a steady supply of fresh food on hand. Thawing has become one of the most crucial procedures in the foodservice sector as a result of the rise in the consumption of frozen foods. To cook the food to the proper temperatures, it is needed to temper and defrost the meal. Microwave ovens can thaw and temper food in an acceptable length of time, preventing the loss of nutrients and moisture and preserving the food’s quality. In addition, equipment like microwave ovens ensures safe thawing of frozen foods by removing potential microbiological hazards when the item melts and becomes unfrozen.
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Segmentations:
Global Microwave Oven Market: Major Players
Daewoo
Moulinex
GE (Haier)
LG
BSH Home Appliances
Electrolux
Samsung
Breville
Galanz
SHARP
Brandt
Whirlpool
Candy Group
Panasonic
Midea
Global Microwave Oven Market: By Types
Under 1 Cu. Ft Type
1 to 1.9 Cu. Ft Type
Over 2 Cu.ft Type
Global Microwave Oven Market: By Applications
Home
Commercial
Others
Although a number of scientific studies have shown that plastics should not be used in microwaves, the low cost of plastic cookware keeps it a common item in cutlery for homes. To overcome this restriction, producers of plastic utensils and containers are concentrating on reducing the chemical content of their products. Nevertheless, because consumers find using plastic cookware to be comfortable, makers of microwave ovens are seeing an increase in demand for such products. Additionally popular with consumers are ceramic dishes and utensils made of which makes the use of microwave ovens more profitable.
Market Growth:
Because of the increased number of double-income households in India and the desire among Indians to maintain their health by cooking at home, it is anticipated that these food-related equipment will continue to develop over the next five years. Due to urbanization, India’s higher disposable incomes are encouraging people to buy microwave ovens to improve their quality of life. Additionally, the country’s growing younger population leads a frantic life with consistently busy schedules. For their food preparation needs, it is dependent on practical appliances like microwave ovens, which have the advantages of being widely used and allowing for faster baking and frying.
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Microwave oven usage is being driven by customers’ busy lifestyles and improving living conditions. This can be related to how quickly and easily food can be heated and cooked in a microwave oven. The three main variables that are expected to accelerate market expansion are urbanization, rising consumer desire for nuclear families, and increased disposable incomes. Additionally, it is anticipated that the ability of meals cooked in a microwave to retain more nutrients would help the industry expand. Studies show that microwave cooking quickly heats food using a minimal amount of water, which in some situations helps steam food from the inside out and makes it easier to digest.
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- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market - Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis
Provides insight into the market through Value Chain - Market dynamics scenario, along with growth opportunities of the market in the years to come
