Global Microwave Oven Market Deemed to Attain USD 16,868.5 Million in Revenue By 2030 | Infinium Global Research

The Infinium Global Research analyzes the Microwave Oven Market over the period of 2023 to 2030. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size, and future trends in the global microwave oven market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of microwave oven. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the microwave oven market during the period. The global microwave oven market, valued at USD 11,406.4 million in 2022, is poised for substantial growth, expected to reach USD 16,868.5 million by 2030, with a noteworthy CAGR of 5.14% during the forecast period in terms of value. Several key factors are driving this growth, including the surge in online food delivery services, increased disposable income, and the emergence of smart and energy-efficient microwave ovens.

To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/reports/sample-request/16996

Online Food Delivery Sector Spurs Demand

The rapid growth of the online food delivery sector is one of the primary drivers of the microwave oven market. According to the Hotel Tech Report, revenue for restaurant-to-customer food delivery is projected to reach nearly $72 million by the end of 2021, while platform food delivery orders are expected to hit $79 million. As online ordering and food deliveries continue to rise, microwave ovens are becoming indispensable appliances in restaurants and cloud kitchens.

Increasing Urbanization and Disposable Income

The microwave oven market is also benefiting from increasing urbanization, particularly in emerging countries. The rise in urban populations is driving the demand for convenient cooking solutions, further boosting the market's growth. Moreover, the growth in disposable income, especially in Asian countries, is positively impacting the microwave oven market.

Health Concerns and Inexpensive Alternatives Present Challenges

Despite its growth, the market faces challenges related to health concerns and the availability of inexpensive alternatives. Studies have suggested health risks associated with microwave ovens, including the production of cancer-causing agents and potential impacts on the immune system. Inexpensive cooking alternatives such as induction cooktops, traditional cooktops, air fryers, steamers, and toaster ovens pose stiff competition to microwave ovens.

Smart Technology Revolutionizes the Market

A notable trend in the market is the emergence of smart microwave ovens. These appliances connect to smart home networks through Wi-Fi and offer expanded features and capabilities. They can be controlled via voice commands using virtual assistants like Google Assistant and Alexa or through smartphone apps. Smart microwaves provide energy efficiency and advanced cooking functionalities, creating significant growth opportunities in the market.

A Bright Future for Microwave Ovens

The global microwave oven market is on a trajectory of expansion, driven by the changing landscape of the food and beverage industry, increased online food deliveries, and the integration of smart technologies. As consumer preferences evolve and technology advances, microwave ovens are set to play a vital role in modern kitchens, restaurants, and cloud kitchens.

Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/reports/customization/16996

Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Microwave Oven Market Highlights

2.2. Microwave Oven Market Projection

2.3. Microwave Oven Market Regional Highlights

Chapter 3. Global Microwave Oven Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter's Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Type

3.4.2. IGR-Growth Matrix Analysis by Application

3.4.3. IGR-Growth Matrix Analysis by Distribution Channel

3.4.4. IGR-Growth Matrix Analysis by Region

3.5. Value Chain Analysis of Microwave Oven Market

Chapter 4. Microwave Oven Market Macro Indicator Analysis

Chapter 5. Global Microwave Oven Market by Type

5.1. Solo

5.2. Grill

5.3. Convection

Chapter 6. Global Microwave Oven Market by Application

6.1. Commercial

6.2. Residential

Chapter 7. Global Microwave Oven Market by Distribution Channel

7.1. Modern Trade

7.2. Specialty Stores

7.3. Online Channels

7.4. Other Distribution Channels

Chapter 8. Global Microwave Oven Market by Region 2023-2030

8.1. North America

8.1.1. North America Microwave Oven Market by Type

8.1.2. North America Microwave Oven Market by Application

8.1.3. North America Microwave Oven Market by Distribution Channel

8.1.4. North America Microwave Oven Market by Country

8.2. Europe

8.2.1. Europe Microwave Oven Market by Type

8.2.2. Europe Microwave Oven Market by Application

8.2.3. Europe Microwave Oven Market by Distribution Channel

8.2.4. Europe Microwave Oven Market by Country

8.3. Asia-Pacific

8.3.1. Asia-Pacific Microwave Oven Market by Type

8.3.2. Asia-Pacific Microwave Oven Market by Application

8.3.3. Asia-Pacific Microwave Oven Market by Distribution Channel

8.3.4. Asia-Pacific Microwave Oven Market by Country

8.4. RoW

8.4.1. RoW Microwave Oven Market by Type

8.4.2. RoW Microwave Oven Market by Application

8.4.3. RoW Microwave Oven Market by Distribution Channel

8.4.4. RoW Microwave Oven Market by Sub-region

Chapter 9. Company Profiles and Competitive Landscape

9.1. Competitive Landscape in the Global Microwave Oven Market

9.2. Companies Profiles

9.2.1. Panasonic Corporation

9.2.2. The Whirlpool Corporation

9.2.3. Haier Group Corporation

9.2.4. GE Appliances

9.2.5. Siemens AG

9.2.6. Samsung Electronics Co., Ltd

9.2.7. Midea Group

9.2.8. LG Electronics Inc.

9.2.9. Hisense Co., Ltd.

9.2.10. Electrolux AB

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/16996

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of Microwave Oven.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027

About Infinium Global Research:

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

This release was published on openPR.