PROSPECTS AND OPPORTUNITIES
Sales expected to stagnate during the forecast period overall
Over the forecast period overall, microwaves in South Korea is expected to see growth come to a standstill, with a static retail volume CAGR, reflecting its maturity. However, although decline is set to continue in the first two years of the forecast period, a return to growth is expected thereafter.
Demand for microwaves will be driven by ready-to-heat meals and single-person households
The growing popularity of ready-to-heat (RTH) and home meal replacement (HMR) products is expected to contribute to sustained demand for microwaves in South Korea in the forecast period. These items cater to consumers seeking convenience, especially as more people opt for quick meal solutions over traditional cooking at home.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Microwaves industry in South Korea 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 South Korea, 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 South Korea 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 South Korea?
- Which are the leading brands in South Korea?
- How are products distributed in South Korea?
- 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 South Korea - Category analysis
KEY DATA FINDINGS
Despite decline, microwaves remain attractive to single-person households
Multifunctional microwaves continue to be launched
Retail e-commerce accounts for a high share of sales
Sales expected to stagnate during the forecast period overall
Demand for microwaves will be driven by ready-to-heat meals and single-person households
Consumer Appliances in South Korea - 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.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Microwaves research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!