Microwaves is expected to see stronger growth in retail volume and value terms (at constant 2022 prices) over the forecast period compared to the review period, which is partly due to the fact these products still have low penetration in the market. Urbanisation and increasingly hectic consumer lifestyles are expected to strengthen the demand for microwaves in the forecast period.
Growing competition is likely to force manufacturers of microwaves to continue investing in new innovations in the forecast period. When it comes to microwaves it will be important that manufacturers focus on improving their product features to provide greater multifunctionality, convenience and value, with energy saving features also likely to be particularly popular.
Leading brands such as Sharp, LG, and Panasonic are expected to continue increasing the frequency of their marketing campaigns as they look to build consumer awareness of their products. Partnering with well-known food brands and engaging celebrity chefs have been popular marketing tools in the past and will likely continue to play an important role over the forecast period, especially when players are looking to introduce new brands and products into the market.
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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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