Global Commercial Microwave Ovens Market to Achieve Strong Growth, Reaching US$ 3,263.3 Million by 2033

The global commercial microwave ovens market is set for robust expansion, projected to attain a valuation of US$ 2,137 Million in 2023. According to insightful findings by Future Market Insights, the market is poised to maintain a steady Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033, driving it to a significant value of US$ 3,263.3 Million by 2033.

The escalating demand for energy-efficient appliances, particularly for thawing frozen foods, presents challenges for prominent restaurant chains, canteens, and cafeterias. Catering to large gatherings while ensuring a constant supply of fresh food poses impracticalities.

Thawing frozen foods has become a pivotal procedure in the food service industry due to the rising consumption of frozen foods. To achieve optimal cooking results, controlled thawing is crucial. Commercial microwave ovens have emerged as a pragmatic solution, allowing rapid thawing and tempering of food within a reasonable timeframe. This approach helps retain vital nutrients and moisture, preserving overall food quality effectively.

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Emerging Trends in Microwave-Compatible Packaging and Innovations in Commercial Ovens:

The adoption of microwave-friendly packaging is on the rise, emphasizing the importance of selecting appropriate food containers for use with commercial microwave ovens. It is essential to avoid metallic elements within microwaves, as they can cause explosions during radiation heating.

Materials used for packaging ready-to-eat and on-the-go food items are evolving to be microwave-friendly. Food service establishments can utilize these containers to microwave raw foods without additional utensils, saving time.

The utilization of such products results in higher power consumption, where both wattage and usage hours impact the electricity consumed. Energy utility companies charge based on the kilowatt hours used.

New features are being integrated into commercial microwave ovens entering the global market. Both residential and commercial customers are showing interest in combi ovens, which combine grills and convection microwave functionalities. The trend is shifting towards multipurpose microwave ovens that facilitate oil-free cooking due to rising health concerns.

Key Insights:

The global commercial microwave ovens market reached a value of US$ 1,126.3 Million by the end of 2022.
Market demand grew at a Compound Annual Growth Rate (CAGR) of 3.4% from 2018 to 2022.
Asia-Pacific is expected to witness the highest CAGR of 4.17%.
North America's microwave oven market is forecasted to achieve a CAGR of 4% during the projected period.
Countertop models contribute significantly to the market, projected to grow at a CAGR of 4.7% throughout the forecast period.
Bakeries are likely to account for the highest sales of commercial microwave ovens in the coming decade.

Competitive Landscape:

Some of the prominent players in the global market are:

Tuxton
CTDream
SignMission
Careform
Amana Commercial Microwaves
Galaxy
Solwave
Panasonic
Vollrath
Midea
Menu Master
Sentinel
Waring

Key Players' Noteworthy Developments:

In January 2023, Panasonic showcased its range of energy-efficient lifestyle products, advancements in e-mobility for electric vehicles and roadways, and initiatives for creating carbon-neutral communities at CES 2023. The company's exhibition at CES was organized into four main areas: Park, Town, Mobility, and Home.

The booth's design aimed to depict a more intelligent, eco-friendly, and interconnected world, illustrating Panasonic's role in addressing matters related to personal well-being, community safety, and the sustainable future of our planet. Each section highlighted how Panasonic is contributing to transformative change aligned with its GREEN IMPACT initiative, which aims to globally reduce CO2 emissions.

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More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global commercial microwave ovens market providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

Key Segments Profiled in the Commercial Microwave Ovens Market

By Regional:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa

By Category:
Counter-Top Microwave Ovens
Over-The-Range Microwave Ovens

By Usage Type:
Light Duty (Upto 1200 Watts)
Medium Duty (1200-2000 Watts)
Heavy Duty (Above 2000 Watts)

By Control Type:
Dial
Touch Pad/Push Button

By Application:
Hotel
Restaurants
Cafes
Bakeries
Others

By Distribution channel:
Offline stores
Hypermarkets / Supermarkets
Multi brand store
Specialty store
Online retail store

About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.