Market Snapshot
| Study Period: | 2018-2027 |
| Base Year: | 2021 |
| CAGR: | >4 % |
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Market Overview
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.
Scope of the Report
A microwave oven is an electric oven that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. Microwave ovens can be categorized by installation method into freestanding and built-in models. The Bahrain Microwave Oven Market Is Segmented By Type (Grill, Solo, and Convection), By Distribution Channel (Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels), and By Application (Residential and Commercial).
| By Product Type | |
| Grill | |
| Solo | |
| Convection |
| By Distribution Channel | |
| Multibrand Stores | |
| Exclusive stores | |
| Online | |
| Other Distribution Channels |
| By Application | |
| Residential | |
| Commercial |
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.
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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.
Recent Development
- On 10th May 2022, Samsung announced the launch of its 2022 range of artificial intelligence-enabled bi-lingual AI EcoBubble™ fully automatic front load washing machines. The new line-up comes with a new AI Wash feature for an effortless laundry experience and larger capacity models going up to 12 kg, as consumers shift their preference to bigger washing machines.
- On 20th April 2022, Panasonic Holdings Corporation announced today the launch of Conductive Ventures III, with a commitment of $200 million, a $50M increase from the second fund. Headquartered in California, Conductive Ventures III will invest in early-stage startups in software, hardware, technology-enabled services, and blockchain technologies with thematic areas including artificial intelligence, financial technology, digital health, and future of work, among others.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness- Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargainning Power of Buyers
4.6.3 Bargainning Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competative Rivalry
4.7 Insights into Latest Technological Innovations and Recent Trends in the Industry
4.8 Consumer Buying Behaviour Analysis
4.9 Insights on Government Regulations in the Industry
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Grill
5.1.2 Solo
5.1.3 Convection
5.2 By Distribution Channel
5.2.1 Multibrand Stores
5.2.2 Exclusive stores
5.2.3 Online
5.2.4 Other Distribution Channels
5.3 By Application
5.3.1 Residential
5.3.2 Commercial
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Midea
6.2.2 Kenwood
6.2.3 Samsung
6.2.4 Toshiba
6.2.5 Candy
6.2.6 Panasonic
6.2.7 Bosch
6.2.8 Whirlpool
6.2.9 LG*
*List Not Exhaustive7. FUTURE TRENDS AND MARKET OPPORTUNITIES
8. APPENDIX
9. DISCLAIMER
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Frequently Asked Questions
What is the study period of this market?
The Bahrain Microwave Ovens Market market is studied from 2018 - 2027.
What is the growth rate of Bahrain Microwave Ovens Market?
The Bahrain Microwave Ovens Market is growing at a CAGR of >4% over the next 5 years.
Who are the key players in Bahrain Microwave Ovens Market?
Midea, Samsung, Kenwood, LG are the major companies operating in Bahrain Microwave Ovens Market.
