Having reached its highest level in well over a decade during 2020, the rate of growth in retail current value sales of microwaves exhibited a modest deceleration but remained in double digits during 2021. Retail volume sales of microwaves also continued to expand at a double-digit rate during the year, in spite of a significant increase in unit pricing for the second year in a row.
In a difficult economic environment, local consumers have become more price sensitive. This has driven a shock towards cheaper, more basic microwaves.
Freestanding models dominate both retail current value sales and retail volume sales of microwaves due to their affordability. During the review period as a whole, retail current value sales of built-in microwaves declined marginally.
The rate of growth in retail volume sales of microwaves will slow significantly in 2022 but remain strong for the remainder of the forecast period. Growth will be supported by urbanisation and accelerating consumer lifestyles, which will make convenience more of a priority for many local consumers.
Having surged past specialist electronics and appliance retailers in 2020, e-commerce will account for half of retail volume sales of microwaves in 2021 and is likely to remain the dominant distribution channel for these appliances throughout the forecast period.
During the forecast period, freestanding microwaves will continue to outperform built-in models in terms of both retail current value and retail volume sales growth rates. With economic conditions in Russia set to remain quite difficult due to mounting inflationary pressure (at least during the early part of the review period), most local consumers will remain very price sensitive.
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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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