PROSPECTS AND OPPORTUNITIES
Increasing focus on aesthetics to support built-in format
Aesthetics can positively influence demand for built-in microwaves over the forecast period, as some consumers aim to streamline the overall look of their kitchen space with integrated designs. In addition, the built-in format offers a space-saving solution as it does not clutter available worktops, although the overall size of this segment will remain small compared to freestanding microwaves due to the considerable price difference.
New features as part of differentiation strategies
Constant modernisation through technology will increasingly influence expectations from consumers looking to buy microwaves. Models offering newer features, such as inverter technology and stirrers, or more compact designs, are likely to be increasingly offered over the forecast period.
Innovation through meal preparation
Many Australians are likely to continue to favour preparing and cooking meals at home to reduce overall costs heading into the forecast period. The high cost of living has reduced their frequency of visiting restaurants and other types of foodservice establishments, with buying their own groceries to prepare their own meals deemed more affordable.
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Overview:
Understand the latest market trends and future growth opportunities for the Microwaves industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Microwaves industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Microwaves in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Microwaves in Australia?
- Which are the leading brands in Australia?
- How are products distributed in Australia?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Microwaves in Australia - Category analysis
KEY DATA FINDINGS
Multifunctionality of microwaves becomes increasingly attractive
Cost-of-living pressures place focus on value for money and durability
Price an important aspect when buying microwaves
Increasing focus on aesthetics to support built-in format
New features as part of differentiation strategies
Innovation through meal preparation
Consumer Appliances in Australia - Industry Overview
Consumer appliances in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer appliances?
DISCLAIMER
The following categories and subcategories are included:
Microwaves
- Built-in Microwaves
- Freestanding Microwaves
Microwaves
Microwaves use electromagnetic waves to heat food. When the waves are absorbed by water, fats or sugars, they‘re converted directly into atomic motion – or heat. Unlike conventional ovens, in which heat is conducted from the outside of the food towards the centre, the microwave‘s radio waves target the water and fat molecules evenly, throughout the food.
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This report originates from Passport, our Microwaves research and analysis database.
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