The global commercial microwave ovens market is expected to be worth USD 2,137 million in 2023. Future Market Insights reports say that the market will expand at a projected to grow at CAGR of 4.3% between 2023 and 2033, totaling around USD 3,263.3 million by 2033.
Commercial kitchens, such as those found in full-service and quick-service restaurants, hotels, and hospitals, are intense energy users, consuming as much as three times more energy per square foot than most other types of commercial buildings.
Energy costs for these facilities typically account for around 25%-30% of the total operating expenses, upgrading equipment to be more energy-efficient can increase the bottom-line revenues while also providing significant non-energy benefits, including improved operating performance, more uniform cooking, and increased comfort of the kitchen staff. Commercial kitchen equipment, such as ovens, require energy to function. By purchasing energy-efficient equipment in new constructions or when existing equipment fails, one can significantly reduce the energy used in the kitchen, save money, and reduce the carbon footprint.
High energy consumption by microwaves acts as one of the restraining factors for the growth of the global microwave oven market. High electricity cost limits the use of such appliances for household purposes in many regions. Commercial microwave ovens consume huge amounts of electricity as they are used for prolonged hours. Companies are offering innovative microwave ovens, which consume less energy for cooking food faster and more efficiently.
The need for energy-efficient kitchen appliances and the rise in demand for smart appliances are factors that are boosting the commercial microwave ovens market where North America is a major revenue contributor to the global microwave oven market. Asia Pacific is projected to witness impressive growth in the microwave oven market during the forecast period.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 2,137 million |
| Projected Forecast Value (2033) | USD 3,263.3 million |
| Growth rate | 4.3% CAGR |
| Forecast period | 2023 to 2033 |
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Commercial Microwave Ovens Market grew at a CAGR of 3.4% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Growth of the forum can largely be attributed to the desire for an easy and convenient lifestyle among consumers. High consumption of ready-to-eat, pre-packed meals, and fast-food restaurants, coupled with convenience stores has become a habit that is linked to the current fast-paced lifestyle bolstering the market size of microwave ovens.
Increase in market demand nowadays in the field of commercial microwaves can be attributed to a plethora of factors, such as the numerous advantages of commercial microwave ovens over traditional microwaves, like enhanced functionality and lesser energy and time consumption, the expanding foodservice industry (including restaurants, hotels, and cafés), the surging demand for microwave ovens across corporate firms and other commercial establishments, the rising popularity of foodservice outlets like food trucks and takeaways, the emerging cloud kitchen and online food delivery sector, the booming hospitality sector, and technological advancements in microwave ovens.
Increase in Disposable Income of People
Increased disposable income, especially in developing countries, has positively influenced the market for microwave ovens. High disposable income increases the spending capacity of consumers to spend on technology-driven premium kitchen appliances including microwave ovens. Consumers are more inclined towards opting for multipurpose and hassle-free appliances, making their kitchen chores much easier, and driving the adoption of microwave ovens.
Increasingly Focusing on Developing Commercial Microwaves with Automatic Timers
Manufacturers are increasingly focusing on developing commercial microwaves with automatic timers for efficient cooking processes, which is a highly conducive factor for market growth. Amplifying demand for frozen and ready-to-eat food items, improving living standards, rising disposable incomes, rapid urbanization, growing working population and their packed work schedules, and the soaring demand for catering services for seminars and social gatherings are other pivotal factors contributing to the market growth.
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Radiation and Insulation Issues in Commercial Microwave Ovens are Major Hindrances to the Commercial Microwave Oven Market Growth.
Exposure to high levels of microwaves while cooking can cause a painful burn to operators. In the human body, the eyes and testes are vulnerable to radiofrequency heating. Little blood flow in the eyes and testes to carry away excess heat. The lens of the eyes is also sensitive to intense heat, and exposure to high levels of microwaves can cause cataracts.
Operators can get injured due to heat-related burns that could occur from holding or touching hot containers and from hot food products. Radiation injuries can also be caused by radiation leaks through openings in commercial microwave oven seals. Improper handling of commercial microwave oven doors can cause the insulation of the door seal to loosen.
Loosening of the insulation can lead to an increase in the time taken for heating foods. Loosening of the insulation also causes the heat inside the commercial microwave oven chamber to leak, which affects the time required for heating food products resulting in an increase in the energy cost. Inconsistency in cooking can lead to food wastage, leading to incurring excess costs for food service establishments.
Rise in Convenience Food Consumption Due to a Shift in Lifestyles.
The market is experiencing a rise in convenience food consumption due to a shift in lifestyles leading to a significant increase in market growth. There are many factors driving the market growth. Rising demand for frozen food and ready-to-eat foods, changing eating habits, rising disposable income, the rising popularity of smart appliances, and the increasing presence of major players.
Technological advances and modernization of the product, rising research-and-development activities, and rising demand from emerging economies will create new opportunities in the commercial microwave ovens market during the forecast period.
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Dual Magnetron is a Major Trend Influencing the Commercial Microwave Oven Market Growth.
Commercial microwave ovens contain magnetron tubes. Magnetron is an electron that is used to produce the required microwave energy to heat food products. Manufacturers, such as SUMMIT APPLIANCE and SAMSUNG, offer commercial microwave ovens that feature dual magnetron to ensure faster operations compared with commercial microwave ovens that work on a single magnetron.
SUMMIT APPLIANCE offers commercial microwave ovens that feature dual magnetron. Equipment features an overall power output of 1,800 W. Commercial microwave ovens can use single magnetrons or double magnetrons to heat food products. In single magnetron mode, food service establishments can save power. Double magnetron mode, the appliance requires less time to heat food products compared to that in the single magnetron mode. Default setting for commercial microwave ovens is a dual magnetron, and the operator can switch to a single magnetron when required.
Asia-Pacific is Anticipated to Grow at the Highest Rate
Asia-Pacific will register the dominant CAGR of 4.17% for the forecast period owing to the rising popularity of brands, growing personal disposable income, growth and expansion of the consumer electronics industry in this region
Asia-Pacific is expected to record a significant growth rate over the forecast period, led by rapid commercialization and industrialization.
Market growth is accredited to the region's flourishing food and hospitality industries, the rapidly expanding food service industry, increasing food service outlets, and several other favorable factors.
Overall demand for and popularity of microwave ovens may increase in developing countries, such as China and India, owing to the growing inclination of customers toward high expenditures on first-rate kitchen electrical appliances. Japan is expected to achieve a considerable share of the market in the future.
Asia-Pacific is leading the industry due to rapid industrialization, an increasing number of industries, and developments in the electric and electronic industries. Advancements in technology and increased product innovations are among the key factors supporting this region’s market demand.
North America Dominates the Microwave Ovens Market for Revenue Share
North American microwave oven market is projected to register a CAGR of 4% during the forecast period where the market is expected to witness strong growth during the forecast period.
Rise in the number of restaurants, house constructions, and renovations all across the North American region is driving the market with more transactions. Increasing technological advancements, including smart connectivity and less energy consumption, have increased the presence of microwave ovens in every house, bakery, office, and restaurant. Efficient ways of baking and cooking with the help of microwave ovens in residential and commercial workplaces increased its demand, thus, boosting the North American microwave oven market.
Modernization and contemporary kitchens at workplaces and houses have helped a large number of international franchises to enter the markets of the United States and Canada during the review period.
Number of immigrants is increasing at a very fast pace in the region, which is witnessing a rise in the number of households, thus, helping in the growth in the number of modern, smart, in-built, and technologically advanced -much efficient microwave ovens.
Countertop is said to Dominate the Commercial Microwave Oven Market
Countertop is said to be the highest contributor to the market and is expected to grow at a CAGR of 4.7% during the forecast period. Countertops are considered to be cheaper than other types of microwave ovens.
Countertops significantly gain popularity owing to their zero-cost installation and can be placed anywhere in the kitchen.
Bakeries are said to Dominate the Market
Acceptance of the oven is being sparked by an increase in the demand for bakery goods, which will likely propel the growth of the global microwave industry. Popularity of the oven is also being pushed by the demand for a contemporary lifestyle that includes easy accessibility to a sophisticated microwave which helps in boosting the demand for microwave ovens.
Some of the prominent players in the global market are:
Some of the important developments of the key players in the market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2023 to 2033 |
| Market value in 2023 | USD 2,137 million |
| Market value in 2033 | USD 3,263.3 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Regional, By Category, By Usage Type, By Control Type, By Application, By Distribution channel |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of Middle East and Africa(MEA) |
| Key Companies Profiled | Tuxton; CTDream; SignMission; Careform; Amana Commercial Microwaves; Galaxy; Solwave; Panasonic; Vollrath; Midea; Menu Master; Sentinel; Waring |
| Customisation Scope | Available on Request |
The global commercial microwave oven market in 2033 is likely to be worth USD 4.3 billion
The commercial microwave oven market is expected to grow at a 4.3% CAGR during the forecast period 2023 to 2033
Sales of commercial microwave ovens expanded at a CAGR of 3.4% from 2018 to 2022
The Asia Pacific market for commercial microwave ovens market is likely to expand at a 4.17% CAGR
The North American market for commercial microwave ovens market is likely to expand at a 4% CAGR
Countertop microwave ovens are expected to generate maximum demand
Bakeries are expected to register maximum sales of commercial microwave ovens in the coming decade
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Category 5.1. Counter-Top Microwave Ovens 5.2. Over-The-Range Microwave Ovens 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Usage Type 6.1. Light Duty (Up to 1200 Watts) 6.2. Medium Duty (1200 to 2000 Watts) 6.3. Heavy Duty (Above 2000 Watts) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Control Type 7.1. Dial 7.2. Touch Pad/Push Button 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Hotel 8.2. Restaurants 8.3. Cafes 8.4. Bakeries 8.5. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Offline Stores 9.1.1. Hypermarkets / Supermarkets 9.1.2. Multi Brand Store 9.1.3. Specialty Store 9.2. Online Retail Store 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Tuxton 18.2. CTDream 18.3. SignMission 18.4. Careform 18.5. Amana Commercial Microwaves 18.6. Galaxy 18.7. Solwave 18.8. Panasonic 18.9. Vollrath 18.10. Midea 18.11. Menu Master 18.12. Sentinel 18.13. Waring 19. Assumptions & Acronyms Used 20. Research Methodology
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Commercial Microwave Ovens Market
