Asia Pacific Microwave Oven Market

Asia Pacific Microwave Oven Market Size, Share & Industry Trends Analysis Report By Product Type (Convection, Grill, and Solo), By Application (Household, and Commercial), By Structure (Counter Top, and Built-In), By Country and Growth Forecast, 2023 - 2030

Report Id: KBV-18847 Publication Date: December-2023 Number of Pages: 144
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Market Report Description

The Asia Pacific Microwave Oven Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 8,094.9 thousand units, showcasing a growth of 6.4% (2019-2022).

Microwave appliances have become an integral part of every household. Their ease of use, time-saving capabilities, and diverse applications have contributed to their widespread adoption, making them nearly ubiquitous in modern kitchens. The market has expanded to encompass commercial and industrial applications. Restaurants, cafeterias, and food processing industries leverage the efficiency and speed of microwaves for various cooking and heating requirements. Integrating smart technology into kitchen appliances is a prominent trend in the market. Smart microwaves offer remote operation, recipe suggestions, and voice command capabilities, enhancing user convenience and connectivity.

Consumers seek versatility in their kitchen appliances. The market has responded by introducing multi-functional microwave ovens that combine traditional microwave capabilities with convection, grilling, and even air frying functionalities, providing users with a comprehensive cooking experience. Water molecules within food are rapidly and uniformly heated via microwaves, which employ electromagnetic radiation. This makes them ideal for reheating leftovers, beverages, and precooked meals, saving time and energy.

Microwave ovens play a crucial role in the rapid preparation of meals in Quick Service Restaurants (QSRs) and fast-food chains across China. They enable quick reheating and cooking, ensuring customers receive their orders promptly. Hotels in China rely on microwave ovens for room service and efficient kitchen operations. The quick turnaround time and versatility of microwave ovens contribute to the overall food service efficiency in hospitality establishments in China. Microwave ovens are adapted to suit the specific needs of Chinese culinary practices. They are used for reheating traditional dishes, steaming dumplings, and preparing various Chinese recipes promptly. Chain restaurants and franchises in China use microwave ovens to maintain consistent cooking standards across multiple locations. This helps in delivering uniform quality in menu items. All these factors will uplift the regional market’s expansion in coming years.

The China market dominated the Asia Pacific Microwave Oven Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,396.7 million by 2030. The Japan market is experiencing a CAGR of 5.3% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 6.7% during (2023 - 2030).

Based on Product Type, the market is segmented into Convection, Grill, and Solo. Based on Application, the market is segmented into Household, and Commercial. Based on Structure, the market is segmented into Counter Top, and Built-In. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

Free Valuable Insights: The Global Microwave Oven Market is Predict to reach $16.8 Billion by 2030, at a CAGR of 5.4%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Holdings Corporation, Whirlpool Corporation, LG Corporation, Samsung Electronics Co. Ltd. (Samsung Group), Alto Shaam, Inc., AB Electrolux, Techtronic Industries Co., Ltd., Illinois Tool Works Inc., Hon Hai Precision Industry Co., Ltd., Sharp Corporation

Scope of the Study

Market Segments Covered in the Report:

By Product Type (Volume, Thousand Units, USD Billion, 2019 to 2030)

  • Convection
  • Grill
  • Solo

By Application (Volume, Thousand Units, USD Billion, 2019 to 2030)

  • Household
  • Commercial

By Structure (Volume, Thousand Units, USD Billion, 2019 to 2030)

  • Counter Top
  • Built-In

By Country (Volume, Thousand Units, USD Billion, 2019 to 2030)

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:

  • Panasonic Holdings Corporation
  • Whirlpool Corporation
  • LG Corporation
  • Samsung Electronics Co. Ltd. (Samsung Group)
  • Alto Shaam, Inc.
  • AB Electrolux
  • Techtronic Industries Co., Ltd.
  • Illinois Tool Works Inc.
  • Hon Hai Precision Industry Co., Ltd.
  • Sharp Corporation
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