US Microwave Oven Market by Distribution Channel, Application and Type - Forecast and Analysis 2024-2028

US Microwave Oven Market Forecast 2024-2028 

The US Microwave Oven Market is forecast to increase by USD 606.74 million, at a CAGR of 5.57% between 2023 and 2028. The growth of the market depends on several factors such as the growing demand for energy-efficient cooking processes, the growing food service industry and the expansion of the e-commerce market.

What will be the Size of the Market During the Forecast Period?

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Market Key Drivers, Trends and Challenges

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Growing demand for energy-efficient cooking processes is notably driving market development. These ovens with their unique heating mechanism, contribute to more energy-efficient cooking than traditional methods. These appliances greatly speed up the cooking process by utilizing oven that directly penetrate the food and excite water molecules, generating heat faster than hob or oven cooking. Microwave-targeted heating ensures minimal energy waste when compared to traditional methods that involve heating entire vessels or the surrounding air. Unlike ovens, which frequently require preheating, microwave ovens begin cooking immediately when activated, eliminating the need for additional energy consumption during preheating. Furthermore, microwave cooking reduces heat loss because the heat is generated directly within the food, resulting in less energy waste compared to traditional methods that lose heat through the cooking vessel and surrounding air.

Furthermore, commercial microwave ovens use radiation technology to ensure quick heating of food products. By nature, one of the most economical and effective appliances in commercial food service kitchens is the microwave oven. Microwaves use up to 80% less energy than conventional ovens. It also eliminates the need for costly ventilation. These ovens offer energy-saving benefits, which, in turn, translates to cost-saving. As a result, the market will exhibit significant growth during the forecast period.

Key Market Trends

The rising adoption of microwave ovens with technologically advanced features is an emerging trend shaping market development. The microwave cooking method is experiencing a surge in popularity globally, especially in the United States where demand for advanced commercial ovens is on the rise in food service establishments. Industry leaders like Panasonic Holdings Corp., SAMSUNG, Whirlpool Corp., GE Appliances by Haier Smart Home Co. Ltd., and SHARP CORP. are at the forefront of innovation. Panasonic's inverter technology and sensor cooking, SAMSUNG's incorporation of smart technology and PowerGrill Duo, Whirlpool's 6th Sense technology, GE Appliances' scan-to-cook feature, and SHARP's SuperSteam+TM technology showcase the industry's commitment to enhancing cooking functionality and customer convenience.

Similarly, Amana (Whirlpool Corp.) introduces the AMSO35 model with multiple batch capability and auto-adjustable cook times, while Midea Group offers heavy-duty commercial ovens with advanced programmable features, driving the market development. As technology continues to advance, the market is poised for further enhancements in features and functionalities, meeting the evolving culinary needs of consumers. Therefore, the product offering from key vendors with inbuilt advanced programmable features is expected to drive the market during the forecast period.

Major Market Challenge

Radiation and insulation issues in commercial microwave ovens are a significant challenge hindering market growth. The potential health hazards associated with commercial ovens, particularly the risk of burns and damage to tissues due to radiation exposure, pose significant challenges for the industry. Excessive microwave exposure can lead to painful burns, eye damage, and testicular harm due to insufficient blood flow. Radiation leakage, often resulting from insulation failures, is a prevalent safety concern. Recent incidents, like localized microwave models in the US experiencing sealing faults leading to unintended radiation leakage, underscore the necessity for rigorous quality control. Major manufacturers, including Panasonic Holdings Corp., SAMSUNG, and LG Electronics Inc., actively invest in advanced safety features, collaborate with regulatory bodies, and issue recalls to meet stringent safety standards.

In addition, efficient insulation becomes crucial for both safety and performance, with vendors like SAMSUNG and KitchenAid emphasizing high-quality materials to enhance safety and reduce energy inefficiencies. Inconsistencies in cooking caused by insulation problems may result in food wastage and increased energy costs, negatively impacting the market during the forecast period.

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Celco Inc. - The company offers commercial microwave ovens such as CEL1200HT High Capacity Touch Microwave Oven, CEL1800HT High Capacity Touch Microwave Oven, CPCE536 Chef Express, CPRE530 Rocket Express. They also offer microwave oven accessories and kits.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including. 

• Conair Corp.
• Electrolux AB
• Felix Storch Inc.
• FRIGIDAIRE
• Haier Smart Home Co. Ltd.
• Hitachi Ltd.
• IFB Appliances
• LG Electronics Inc.
• Midea Group Co. Ltd.
• Panasonic Holdings Corp.
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• Sharp Corp.
• Solwave Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segment in the Market?

The offline segment is estimated to witness significant growth during the forecast period. Despite the increasing popularity of online sales channels, offline sales channels continue to dominate the market. Several factors contribute to the continued dominance of offline channels in this sector. Microwaves are still sold primarily through traditional brick-and-mortar retail stores such as appliance stores, department stores, and home improvement stores. 

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The offline segment was the largest and was valued at USD 1,240.06 million in 2018. Despite the growth of online sales channels, offline avenues remain popular due to the tangible and interactive shopping experience they provide. Customers appreciate the ability to physically inspect microwaves, test functionality, and get immediate assistance. Furthermore, the ease of in-store product pickup and the availability of instant gratification contribute to the long-term strength of offline sales channels in the US microwave market. While online sales are increasing, the offline market remains strong due to established retail infrastructure and consumer preferences for hands-on shopping experiences. Hence, these factors will contribute to moderate growth in the offline segment of the market during the forecast period.

Segment Overview

The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Distribution Channel Outlook 
  • Offline
  • Online

• Application Outlook 
  • Household
  • Commercial

• Type Outlook 
  • Counter top
  • Built-in

Market Analyst Overview

The US Microwave Oven Market is thriving, driven by the evolving preferences of smart lifestyle enthusiasts. Microwave ovens have become indispensable in nuclear families and homes with modular kitchens, aligning seamlessly with the trend of smart home appliances. The market witnesses a significant impact in the hospitality sector, including hotels, restaurants, and cafes, where microwave ovens cater to the demand for quick and convenient ready-to-eat meals. The household microwave oven segment, especially in smart homes within metropolitan cities like New York and Chicago, is witnessing a surge in demand. Connectivity-enabled smart appliances, a response to the changing dynamics post the Coronavirus pandemic, are gaining traction in the market. Urbanization has led to a rise in the consumption of microwave foods, making microwave ovens a common sight in large-scale retail chains.

Moreover, research and development (R&D) efforts are driving innovations, including advanced freezing technology and the production of convenient fast-food options and pre-packaged food products. Major players like Robert Bosch, Samsung Electronics, Whirlpool, and Electrolux are actively involved in AI integration, reflecting the trend of mergers and acquisitions in the industry. The market is witnessing price wars, particularly in the domain of premium microwave ovens, as vendors compete to attract the growing segment of consumers seeking innovative solutions for their smart kitchens.

US Microwave Oven Market Scope
Report Coverage	Details
Page number	143
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.57%
Market Growth 2024-2028	USD 606.74 million
Market structure	Fragmented
YoY growth 2023-2024(%)	4.98
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Celco Inc., Conair Corp., Electrolux AB, Felix Storch Inc., FRIGIDAIRE, Haier Smart Home Co. Ltd., Hitachi Ltd., IFB Appliances, LG Electronics Inc., Midea Group Co. Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Solwave Inc., The Middleby Corp., Transform Holdco LLC, and Whirlpool Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this US Microwave Oven Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across US
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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