Microwave Oven Market Size, Share, Growth Analysis, By Structural Set-up(Built-in, Counter-top), By Product Type(Convention Type, Grill Type, Solo Type), By End-User(Household, Commercial), By Region - Industry Forecast 2024-2031

Global Microwave Oven Market size was valued at USD 15.77 billion in 2019 and is poised to grow from USD 16.4 billion in 2023 to USD 22.4 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

Among all the kitchen appliances purchased cooking appliances hold the largest market share, by the year 2027 cookers and ovens are estimated to generate revenue of around US$ 109.5 billion. The modern living standards have increased expenditure on new-age kitchen gadgets that would ease and signify the cooking experience of consumers. The rise in accessibility to information, media, and socializing mediums has increased excitement for different recipes and cooking ways that attract people to own advanced appliance required for quick and quality services. In the years there has been an increasing number of people who are inclined to spend on auxiliary leisure appliances to ease and comfort their lifeways. Advent technological innovation complemented with kitchen appliances has witnessed huge popularity and directed individuals towards smart living standards.

Microwaves have become an essential component of kitchen chores. The varied cooking options provides such as baking, grilling, and roasting aid a faster and hassle-free food preparation. The appliance uses thermal energy to provide heat which provides adequate heat for cooking. Integration of innovative luxury options steered by the technology of IoT is further posing transcending effects on global microwave oven market growth.

US Microwave Oven Market is poised to grow at a sustainable CAGR for the next forecast year.