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Microwave Oven Market Predicted to Reach Beyond $12.70 Billion by 2022

Surging demand for frozen & precooked ready-to-eat food, changing eating preferences & lifestyles, and rising disposable income of consumers are among the key trends escalating microwave oven market growth.<br>

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Microwave Oven Market Predicted to Reach Beyond $12.70 Billion by 2022

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  1. Microwave Oven Market Worth $12.70 Billion By 2022 | CAGR: 2.8% | Grand View Research, Inc “Surging demand for frozen & precooked ready-to-eat food, changing eating preferences & lifestyles, and rising disposable income of consumers are among the key trends escalating microwave oven market growth.” The global microwave oven market size is anticipated to reach USD 12.70 billion by 2022, according to a new report by Grand View Research, Inc., rising at a CAGR of 2.8% during the forecast period. Improving standard of living of consumers, growing number of nuclear families, and increasing demand for frozen and ready-to-eat food are some of the key factors stimulating market growth. Growing number of working women and preoccupied schedule of people in urban cities are likely to fuel the demand for ovens. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential appliance market. However, this trend is estimated to boost the culture of quick service restaurants, cafes, and small eateries, which in turn will work in favor of the market. Robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to stir up the demand for commercial appliances over the forecast period. In case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food. Follow Us:

  2. Macroeconomic factors such as growing population, rising disposable income of consumers, and increasing awareness of different cooking media such as microwave oven, grills, and barbeques are projected to impact the market positively. To request a sample copy or view summary of this report, click the link below: www.grandviewresearch.com/industry-analysis/microwave-oven-market Further key findings from the report suggest: •The convection segment is poised to account for half of the overall market value by 2022 •The grill microwave oven market is anticipated to be valued at around USD 4.50 billion by 2022 •In 2016, North America was the leading revenue contributor in the market, with a valuation of around USD 3.5 billion •The household application segment accounted for a larger revenue share in 2016 and is likely to expand at a CAGR of around 3.0% over the forecast period •The key players in the market include Robert Bosch GmbH, Haier Group Corporation, Hobart, Hamilton Beach, Middleby Corporation Company, Whirlpool Corporation, and Sharp Corporation. Follow Us:

  3. View more reports of this category by Grand View Research at www.grandviewresearch.com/industry/electronic-devices Grand View Research has segmented the global microwave oven market into product, application, structure, and region. Microwave Oven Product Outlook (Revenue, USD Billion, 2012 - 2022) •Convection •Grill •Solo Microwave Oven Application Outlook (Revenue, USD Billion, 2012 - 2022) •Commercial •Household Microwave Oven Structure Outlook (Revenue, USD Billion, 2012 - 2022) •Built-in •Counter top Microwave Oven Regional Outlook (Revenue, USD Billion, 2012 - 2022) •North America •Europe •Asia Pacific •Rest of the World (RoW) Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-microwave-oven-market Follow Us:

  4. About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email:sales@grandviewresearch.com For More Information:http://www.grandviewresearch.com Follow Us:

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