The global economy continued to reopen in 2022, which created high demand from consumers for various goods and services. In addition, the effect of quantitative easing in major economies also drove up the inflation rate.
The increasing demand for multifunctional microwaves is likely to further reduce sales of single-purpose microwaves over the forecast period. Due to the small average size of apartments in Hong Kong, many consumers like to purchase multifunctional appliances such as 3-in-1 microwaves, which reduces the need for other cooking appliances.
Retail e-commerce is expected to play an increasingly important role in the distribution of microwaves in the coming years, as local consumers have become more comfortable with shopping online since the pandemic. The government’s Consumption Voucher Scheme in 2021 and 2022 was also applicable for orders placed via e-commerce platforms, helping to further accelerate the adoption of online shopping.
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Microwaves use electromagnetic waves to heat food. When the waves are absorbed by water, fats or sugars, they‘re converted directly into atomic motion – or heat. Unlike conventional ovens, in which heat is conducted from the outside of the food towards the centre, the microwave‘s radio waves target the water and fat molecules evenly, throughout the food.See All of Our Definitions
This report originates from Passport, our Microwaves research and analysis database.
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