United States Microwave Oven Market was worth US$ 3.22 Billion in 2023. It is expected to grow at a CAGR of 3.66% from 2024 to 2032 and be valued at US$ 4.45 Billion by 2032.
An equipment that uses microwaves, or high-frequency electromagnetic waves, to cook food is a microwave oven. A microwave oven is a compact, box-shaped oven that uses an electromagnetic field with a high frequency to heat food. Water, lipids, carbohydrates, and some other molecules absorb the microwaves, causing their vibrations to cause heat. This shortens the cooking time considerably because the heating takes place inside the meal rather than warming the surrounding air. With a microwave oven, people can finish baking and other cooking duties in minutes that take hours in a traditional oven.
Beaurau of Labor Statistics reports that microwave oven ownership exceeds ninety percent of American households.
United States Microwave Oven Market Trends
Swift Transformation in Lifestyle
- American lifestyles are changing quickly, as seen by busier schedules and an increasing preference for comfort. This is contributing to the explosion in the microwave ovens market.
- A survey found that over 60% of married couples with children in America today have two earners, with the proportion of dual incomes to family earnings rising to about 45% and 89% for families making $75K or more.
- There is an increasing need for time-saving and simple kitchen tools that may streamline culinary procedures as more people lead busy lives. These household gadgets are essential in modern kitchens because they meet the needs of an urban lifestyle by offering quick and hygienic food preparation solutions.
- According to estimates from the United Nations Population Division, 83% of Americans reside in metropolitan areas. 89% of Americans and 68% of people worldwide are expected to live in cities by 2050.
- In the United States, there are more than 325 urban centers with a population of 100,000 or more; the largest is New York City, home to 8.47 million people.
- This trend highlights how important comfort is becoming, which is fueling the growth of the microwave oven market in the United States.
Rising Involvement of Women in the Labor Force
The United States microwave ovens market is developing as a result of the increasing number of women entering the workforce and the increased demand for ready-to-eat food.
The Bureau of Labor Statistics reports that prime-age women's participation rate in the workforce surpassed pre-pandemic levels at 77.0%. Given that there were 993,000 more moms employed in December 2022 than the year before, there might be an increasing need for quick and easy meal options that simplify meal preparation.
With a women's labor force participation rate of 66.5%, the District of Columbia led the nation, followed by Nebraska (65.5%), Minnesota (63.9%), North Dakota (63.8%), and South Dakota (63.6%).
Participation rates were higher than 75.0% in the age categories of 25 to 34, 35 to 44, and 45 to 54, with the highest participation rate occurring in the 25 to 34 age group (77.6%). In 2022, the labor force participation rate for women aged 16 to 19 was 37.2%, whilst the rate for women aged 65 and beyond was 15.5%.
Microwave ovens offer a quick and efficient way to reheat leftovers, frozen meals, or prepared food. This underscores their role as essential time-saving kitchen gadgets in modern households while also accommodating the hectic schedules of working individuals.
Technological Advancements
Convection and sensor cooking are two technological advancements that have revolutionized the US microwave oven market. This improves adaptability and functionality. Depending on the moisture stages of the food, sensor cooking modifies the cooking time and power levels. This guarantees optimal results even in the absence of constant observation. Convection technology moves hot air around simultaneously to bake, roast, and heat food more quickly and evenly.
For example- LG's most recent lineup was on display at the Kitchen & Bath Industry Show in February 2024. It offers goods with a strong design aesthetic, such as low-profile over-the-range microwaves and French door refrigerators. Both customer demand and product innovation are fueled by this.
In January 2022- At the 2022 Consumer Electronics Show (CES) in Las Vegas, Panasonic announced the launching of its first smart microwave, the Panasonic Smart Inverter Countertop Microwave Oven, Works with Alexa (NN-SV79MS). Any device that supports Alexa or the Alexa app can be used to control the NN-SV79MS with voice commands. Since Alexa is used by 69.7% of smart speaker users in the United States, the NN-SV79MS integrates well with these homes' smart home configurations.
In January 2023- The 2023 Kitchen & Bath Industry Show (KBIS) will feature the newest appliance developments from Sharp Home Electronics Company of America (SHCA). The Sharp 30" Slide-In Range for Electric Convection and the Sharp 30" Slide-In Range for Gas Convection. The expanded edges contribute to the gorgeous and classic built-in look that perfectly complements any contemporary kitchen. The slide-in design has controls up front for simple and comfortable access. Additionally, both have the wildly popular Pizza and Air Fry modes for daily convenience. Sharp ranges provide extremely high power for a high-end cooking experience. The oven has a gliding rack to make handling the heaviest cookware easy and a temperature probe to help take the guesswork out of cooking.
Employing Microwave Ovens in business Settings
Microwave oven use in commercial settings is a major factor in the US market's expansion. They are used to swiftly reheat or prepare meals and attend to the needs of both customers and employees. They can be found at cafeterias, restaurants, and convenience stores. They are essential for quick meal preparation without the need for complicated equipment because of their comfort and efficiency. The need for microwaves is growing as businesses prioritize productivity. This encourages the expansion of the United States microwave oven market.
California Microwave Oven Market
According to figures from the Department of Finance, California has the largest population in the nation, at over 39 million.
This serves a vital role in the United States microwave oven market by giving merchants and equipment manufacturers access to a large consumer base. Californians are known to be tech-savvy and frequently take the lead in implementing cutting-edge technologies. This includes improved microwave features like intelligent connectivity and more healthful cooking choices. Microwaves are increasingly capable of supporting techniques like air-frying or steaming, thanks to a strong emphasis on healthy living.
The fact that Californians have more discretionary income than the national average also shows that the state's citizens are willing to spend money on high-end microwaves with exceptional features or stylish designs.
The World Data Atlas estimates that California's per capita disposable personal income in 2022 was 63,133 US dollars. With an average yearly growth rate of 4.71%, this indicates a significant increase from 41,878 US dollars in 2013 to 63,133 US dollars in 2022.
The state of California's attention on energy efficiency may also increase demand for high-star microwaves or models with power-saving capabilities. This fits in with the nation's environmental agenda.
United States Microwave Oven Market Company News
Illinois Tool Works Inc., Sharp, LG Electronics, Whirlpool Corporation, GE Appliances, Panasonic Corporation, Samsung Electronics, and Midea Group are the major industry players in the United States Microwave Oven Market.
In January 2024, Panasonic extended its partnership with Fresco, the leading smart kitchen platform for the most efficient equipment brands. They will introduce a groundbreaking cooking assistant for Panasonic kitchen home equipment, starting with the Panasonic HomeCHEF 4-in-1 multi-oven. This revolutionary smart equipment and its connected cooking experience will be unveiled at the Consumer Electronics Show (CES) 2024.
In January 2023- Samsung's spotlight returned to the kitchen, featuring various refrigerator models and an oven, each equipped with upgraded hardware and software. A new initiative under the Bespoke brand also extends beyond appliances, focusing on household energy management.
In May 2023- Whirlpool Corporation will present its latest kitchen and laundry appliances at the Pacific Coast Builders' Conference (PCBC). Featured products at booth #911 will highlight trends like Healthy Homes, with the KitchenAid® 30-inch Induction Range and Whirlpool® Microwave offering Air Fry functionality. The KitchenAid® Over-the-Range Microwave will showcase seamless kitchen design, integrating with cabinetry for beauty and functionality.
In December 2022-At CES® 2023, LG Electronics (LG) will debut an upgraded culinary experience with its latest upgradeable kitchen appliances. These include the LG QuadWash® Pro dishwasher, LG InstaView® Combination Double Wall Oven, Over-the-Range Microwave Oven, and Electric Double Slide-in Range. These appliances boast powerful performance driven by LG's advanced technologies and offer exceptional convenience through integration with LG ThinQ™. LG aims to enhance customer experiences and deliver added value in kitchen appliance technology.
In December 2020- Sharp Home Electronics Company of America (SHCA) introduced its inaugural smart countertop microwave ovens, equipped with Wi-Fi connectivity and Works with Alexa certification. These ovens come in two sizes: a mid-sized 1.1 cu. Ft model (SMC1139FS) and a family-sized 1.4 cu. The ft model (SMC1449FS) allows for hands-free operation through voice commands.
Type - Market breakup in 3 viewpoints:
1. Grill
2. Solo
3. Convection
Application - Market breakup in 2 viewpoints:
1. Commercial
2. Household
Structure - Market breakup in 2 viewpoints:
1. Built-In
2. Counter Top
Distribution Channel - Market breakup in 2 viewpoints:
1. Online
2. Offline
States - Market breakup in 29 viewpoints:
1. California
2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of United States
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Illinois Tool Works Inc.
2. Sharp
3. LG Electronics
4. Whirlpool Corporation
5. GE Appliances
6. Panasonic Corporation
7. Samsung Electronics
8. Midea Group
Table of Contents
Companies Mentioned
- Illinois Tool Works Inc.
- Sharp
- LG Electronics
- Whirlpool Corporation
- GE Appliances
- Panasonic Corporation
- Samsung Electronics
- Midea Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 215 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.22 Billion |
| Forecasted Market Value ( USD | $ 4.45 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
