Microwaves bucked the declining trend experienced by other major appliances in Malaysia in 2020, in a continuation of growth already noted prior to the emergence of the pandemic. This appliance has been increasingly adopted by local households due to its convenience, flexibility, space-saving design and ability to cook a wide range of meals in addition to other attributes such as defrosting capabilities.
The growth of microwaves in 2020 was driven by the dominant freestanding format, while the built-in category experienced declining volume and value sales, due to a slowdown in construction and the property market due to the pandemic with the MCO making it difficult to complete house purchases or home renovation projects due to limited movement amongst the general population. Nevertheless, built-in microwaves remain a niche in Malaysia due to their much higher than average unit price compared to freestanding models in addition to requiring additional professional installation and related costs.
Microwaves is a highly consolidated competitive landscape, dominated by international players which owe their strength in the category to strong consumer awareness of their brands, high quality and wide distribution networks. Panasonic Malaysia retained its overall lead of microwaves in 2020 due to its long-standing history in the country and reputation for reliability and quality.
The outlook for microwaves remains positive over the forecast period with the category set to record solid demand. Whether consumers continue to work from home or return to the workplace as the threat of the virus wanes, microwaves will continue to offer a quick and convenient solution to preparing a meal, addressing busy lifestyle needs.
Despite lingering price sensitivity amongst many local consumers heading into 2021, players are likely to continue to expand the category with innovative solutions in order to stand out from competitors. Greater energy-efficiency is likely to be one area to develop, as witnessed in many categories within consumer appliances, while rising health and wellness trends (steam function) and demand for more convenient methods of cooking, could encourage players to launch products that not only feature multiple cooking functions but are also able to reduce cooking time while retaining nutrients.
Moving further ahead with the likelihood of returning to some level of normalisation in terms of socialising with family and friends, demand for microwaves is likely to gain further momentum during the festive season. Malaysia has a strong culture of home visiting and celebrations, where it is traditional to bake and prepare food for guests.
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Understand the latest market trends and future growth opportunities for the Microwaves industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Microwaves research and analysis database.
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