Owing to the outburst of COVID-19 the Bahrain Microwave oven market was moderately impacted. However, the sales were impacted during the first quarter of the pandemic due to the restrictions and supply channel disruption but the sales went up slowly. This is attributed to rising in work-from-home culture, which has led the customers to stay home and cook food more easily.
The robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to drive the demand for commercial appliances over the forecast period. Economic factors, such as the rising population, increasing disposable income of consumers, and growing awareness about different cooking appliances, such as microwave ovens, grills, and barbeques, are projected to impact the market positively. In Bahrain rising standard of living of customers, an increasing number of nuclear families, and surging demand for frozen and ready-to-eat food are some of the key factors driving the market growth. The convection segment of the market is poised to account for half of the overall market. The demand for a microwave oven may gain strong support from the rising consumer spending on kitchen appliances. The adoption of kitchen and home appliances is forecast to witness robust growth, owing to the increasing rate of urbanization.
As more consumers shifting toward Healthy and Ready-to-eat food due to the rapid change in the lifestyle of the costumers as well as the changing consumer needs. In the past years, residential application segment accounted for a large revenue share, and it is likely to expand at a healthy CAGR over the forecast period. The most significant driver for residential application segment is the changing lifestyles and food consumption preferences of people due to the Pandemic. This may be a drawback for the residential segment of the market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn, is expected to work in favor of the market. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchens.
The Bahrain microwave oven market is expected to register a notable growth in the near future, owing to a significant increase in disposable income and rise in working class segment in emerging markets. The increasing propensity of consumers to spend on appliances which assist them in kitchen chores has generated an increasing demand for microwave ovens. The adoption rate of Portable Microwave Oven is increasing in a fast pace which creates growth opportunity in the demand for Microwave Ovens in the market. The Portable Microwave Oven has the ability to function as aa normal one with good battery lifeand is available at a lower price which could contribute to a higher demand for microwave oven is boosting the market growth. Smart Ovens which uses radiofrequency technology which can be used for heating, baking, boiling and steaming of food, which attracts more consumers to buy Microwave Ovens and will propel the growth of the market. Oman coustmers are attracted towards innovative microwave ovens such as IOT ovens which is now increasing in trend as it has the ability to connect with the internet and cooking settings can be changed through the use of smartphones manually, which in turn is expected to increase the market demand.
Bahrain Microwave Ovens Market is moderatly consolidated in nature. Some of the major players operating currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies is increasing their market presence by securing new contracts and by tapping new markets.
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The robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to drive the demand for commercial appliances over the forecast period. Economic factors, such as the rising population, increasing disposable income of consumers, and growing awareness about different cooking appliances, such as microwave ovens, grills, and barbeques, are projected to impact the market positively. In Bahrain rising standard of living of customers, an increasing number of nuclear families, and surging demand for frozen and ready-to-eat food are some of the key factors driving the market growth. The convection segment of the market is poised to account for half of the overall market. The demand for a microwave oven may gain strong support from the rising consumer spending on kitchen appliances. The adoption of kitchen and home appliances is forecast to witness robust growth, owing to the increasing rate of urbanization.
Key Market Trends
Increase in Consumption of Home Made food is Driving the Demand
As more consumers shifting toward Healthy and Ready-to-eat food due to the rapid change in the lifestyle of the costumers as well as the changing consumer needs. In the past years, residential application segment accounted for a large revenue share, and it is likely to expand at a healthy CAGR over the forecast period. The most significant driver for residential application segment is the changing lifestyles and food consumption preferences of people due to the Pandemic. This may be a drawback for the residential segment of the market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn, is expected to work in favor of the market. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchens.
Increasing Per Capita Income is Increasing the Scope for Innovation in the Market
The Bahrain microwave oven market is expected to register a notable growth in the near future, owing to a significant increase in disposable income and rise in working class segment in emerging markets. The increasing propensity of consumers to spend on appliances which assist them in kitchen chores has generated an increasing demand for microwave ovens. The adoption rate of Portable Microwave Oven is increasing in a fast pace which creates growth opportunity in the demand for Microwave Ovens in the market. The Portable Microwave Oven has the ability to function as aa normal one with good battery lifeand is available at a lower price which could contribute to a higher demand for microwave oven is boosting the market growth. Smart Ovens which uses radiofrequency technology which can be used for heating, baking, boiling and steaming of food, which attracts more consumers to buy Microwave Ovens and will propel the growth of the market. Oman coustmers are attracted towards innovative microwave ovens such as IOT ovens which is now increasing in trend as it has the ability to connect with the internet and cooking settings can be changed through the use of smartphones manually, which in turn is expected to increase the market demand.
Competitive Landscape
Bahrain Microwave Ovens Market is moderatly consolidated in nature. Some of the major players operating currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies is increasing their market presence by securing new contracts and by tapping new markets.
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Table of Contents
1 INTRODUCTION
2 RESEARCH METHODOLOGY
4 MARKET INSIGHTS AND DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Midea
- Kenwood
- Samsung
- Toshiba
- Candy
- Panasonic
- Bosch
- Whirlpool
- LG*
Methodology
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