Microwave Ovens Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Microwave Ovens Market Through 2025?
The market size of microwave ovens has been experiencing consistent growth over the recent years. The market is projected to increase from $12.72 billion in 2024 to $13.24 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.0%. The history of the market's growth can be credited to various factors such as the efficiency of microwave cooking, evolving lifestyles, reasonable pricing and accessibility, increase in working women population, and growing disposable incomes.

What's the Projected Size of the Global Microwave Ovens Market by 2029?
In the upcoming years, the microwave ovens market size anticipates consistent expansion. It is predicted to escalate to $15.21 billion in 2029, boasting a compound annual growth rate (CAGR) of 3.5%. Factors such as smart and interconnected appliances, advancements in cooking technology, energy conservation and sustainability, health and wellness, along with compact and space-saving solutions contribute to this anticipated growth in the forecast period. Noteworthy trends for this period encompass multi-purpose microwave ovens, voice and app enabled control, aesthetics and design, healthy cooking methods and nutrition, usage of sustainable and eco-friendly materials.

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Top Growth Drivers in the Microwave Ovens Industry: What's Accelerating the Market?
The rise in popularity of frozen and ready-to-eat meals due to fast-paced lifestyles is anticipated to propel the growth of the microwave ovens market over the projected period. Microwave ovens can easily cook these frozen and prepared meals, yielding a taste akin to that of fresh food. For example, a report from the American Frozen Food Institute disclosed in November 2022 that sales for frozen fruits and vegetables in the US totaled $7.1 billion over the 52-week period concluding on June 26, 2022. This volume was 271 million pounds greater than what it was before the pandemic at 3.9 billion pounds. The best sellers in this segment were plain vegetables, potatoes onions, and fruit, with sales values of $2.9 billion, $2.3 billion, and $1.5 billion respectively. Accordingly, the rising demand for frozen and ready-to-eat meals due to hectic lifestyles is fueling the expansion of the microwave oven market.

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What Trends Will Shape the Microwave Ovens Market Through 2029 and Beyond?
Firms in the domestic cooking device sector are progressively unveiling cutting-edge multi-purpose ovens in response to the increasing appetite for appliances with multiple capabilities and added advantages. These multi-purpose ovens employ a plethora of strategies to facilitate personalized and straightforward cooking. They incorporate features that guide and direct users throughout the cooking journey. Furthermore, they boast catalytic and pyrolytic self-purification functions. The catalytic self-cleaning functionality involves the use of specially chemically-infused liners for grease absorption, and the pyrolytic self-purification feature facilitates the elimination of grime and grease via intense heat. Electrolux's EOY5851AAX oven, for example, leverages multiple programs and functions to simplify and personalize the cooking activity. It's equipped with pyrolytic cleaning technology for autonomous cleaning.

What Are the Main Segments in the Microwave Ovens Market?
The microwave ovens market covered in this report is segmented -

1) By Product: Grill, Solo, Convection
2) By Structure: Counter Top, Built-In
3) By Distribution Channel: Specialty Stores, Super markets/Hyper markets, Online Channel, Other Distribution Channels
4) By Application: Commercial, Household

Subsegments:
1) By Grill: Solo Grill, Convection Grill
2) By Solo: Basic Solo Microwave, Advanced Solo Microwave
3) By Convection: Countertop Convection Microwave, Built-in Convection Microwave

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Which Top Companies are Driving Growth in the Microwave Ovens Market?
Major companies operating in the microwave ovens market include Sharp Corporation, LG Electronics Inc, Electrolux AB, Alto-Shaam Inc, Panasonic Corporation, Samsung Electronics, Dongbu Daewoo Electronics, Whirlpool Corporation, SMEG, Haier Group Corporation, AB Electrolux, Hoover Limited, Illinois Tool Works Inc., Galanz Enterprise Group, Amana, Bosch, Cuisinart, Frigidaire, GE Appliances, Kenmore, KitchenAid, Ali Group, Midea Group, Vulcan-Hart, Bakers Pride Oven Co. Inc., Kenwood Limited, IFB Industries Ltd., Toshiba Corporation., Breville Group Limited, Cuisinart, Hamilton Beach Brands Holding Company, Morphy Richards, Moulinex, Philips, Russell Hobbs, Sunbeam Products Inc., Tefal, Black & Decker, Daewoo Electronics, Gorenje Group, Hitachi, Indesit Company

Which Regions Will Dominate the Microwave Ovens Market Through 2029?
Asia-Pacific was the largest region in the microwave ovens market in 2023. Western Europe was the second-largest region in the microwave ovens market. The regions covered in the microwave ovens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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