The global commercial microwave ovens market is poised for substantial growth, projected to attain a valuation of US$ 2,137 Million in 2023. According to insightful findings from Future Market Insights, this market is anticipated to sustain a steady Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033, positioning it to reach a significant value of US$ 3,263.3 Million by the conclusion of 2033.
The demand for energy-efficient appliances has surged, particularly in the context of thawing frozen foods. This demand scenario poses a notable challenge for renowned restaurant chains, canteens, and cafeterias, especially when catering to sizable gatherings where the feasibility of maintaining a constant supply of fresh food becomes impractical.
The process of thawing has evolved into a critical procedure within the realm of food service, primarily due to the escalating consumption of frozen foods. To achieve optimal cooking outcomes, the controlled thawing of food is essential. Herein, commercial microwave ovens have emerged as a pragmatic solution, facilitating rapid thawing and tempering of food within a reasonable timeframe. This approach effectively prevents the loss of vital nutrients and moisture, ultimately preserving the overall quality of the prepared food.
Evolving Trends in Microwave-Friendly Packaging and Commercial Oven Innovation:
The usage of packaging containers is rising micro-friendly where an important piece of advice for using commercial microwave ovens is to choose the proper food containers because any metallic element inside the oven can cause an explosion during microwave radiation heating.
Materials used to package ready-to-eat food or on-the-go food products have evolved the microwave-friendly. Operators of food service establishments can keep raw foods packaged in such containers and microwave them without additional utensils, saving time.
High power usage results from the use of these products where wattage and usage hours both affect how much electricity is used. Utility of these companies bills for each kilowatt hour of energy that is used up.
New features are being added to new products entering the commercial microwave oven market globally. Customers from residential and commercial settings are becoming increasingly interested in combi ovens, which combine grills and convection microwave ovens. Customers are gravitating toward multipurpose microwave ovens that can help with oil-free cooking due to the rising health risks associated.
Key Takeaways:
- The global commercial microwave ovens market was valued at US$ 1,126.3 Million by 2022-end.
- Market demand expanded at a CAGR of 3.4% from 2018 to 2022
- Asia-Pacific will register the highest CAGR of 4.17%
- North American microwave oven market is projected to register a CAGR of 4% during the forecast period.
- 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.
- Bakeries are expected to register maximum sales of commercial microwave ovens in the coming decade
Some of the prominent players in the global market are:
- Tuxton
- CTDream
- SignMission
- Careform
- Amana Commercial Microwaves
- Galaxy
- Solwave
- Panasonic
- Vollrath
- Midea
- Menu Master
- Sentinel
- Waring
Some of the important developments of the key players in the market are:
- In January 2023, Panasonic, energy-efficient lifestyle products to advances in e-mobility that electrify vehicles and roadways to the realization of a carbon-neutral town, Panasonic highlights its newest innovations, smart collaborations, environmentally responsible solutions, and wellness technology at CES 2023. Panasonic’s booth is comprised of four focus areas – Park, Town, Mobility and Home.
- The booth is designed to simulate a smarter, greener and more connected world and demonstrate how Panasonic is solving issues that directly relate to individual well-being, community safety and the vitality and sustainability of our planet. Each area showcases how Panasonic is helping to transform the future through innovations in line with the Panasonic GREEN IMPACT initiative, and its commitment to reduce CO2 emissions globally.
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global commercial microwave ovens market providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
Key Segments Profiled in the Commercial Microwave Ovens Market
By Regional:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
By Category:
- Counter-Top Microwave Ovens
- Over-The-Range Microwave Ovens
By Usage Type:
- Light Duty (Upto 1200 Watts)
- Medium Duty (1200-2000 Watts)
- Heavy Duty (Above 2000 Watts)
By Control Type:
- Dial
- Touch Pad/Push Button
By Application:
- Hotel
- Restaurants
- Cafes
- Bakeries
- Others
By Distribution channel:
- Offline stores
- Hypermarkets / Supermarkets
- Multi brand store
- Specialty store
- Online retail store
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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