Egypt Microwave Ovens Market Size

Egypt Microwave Ovens Market Analysis

The Egypt Microwave Ovens Market size is estimated at USD 97.14 million in 2024, and is expected to reach USD 138.99 million by 2029, growing at a CAGR of 7.43% during the forecast period (2024-2029).

Egypt's microwave oven market has been experiencing significant growth over the past years, and a similar trend is forecasted to continue in the coming years. The rising population along with the increased standard of living are the primary reasons contributing to the rising demand for microwave ovens in Egypt. The GDP per capita has increased 34.9% in the last ten years in Egypt, with higher disposable income for the people living in Tier I and Tier II cities of the country have enabled the consumers to invest in their household appliance requirements.

On account of Covid-19, the unemployment rate in Egypt increased to 9.6% during Q2, 2020, and accordingly, average annual headline urban inflation recorded 5% during the year 2020, compared to 9.2% in 2019, marking the lowest rate recorded since 2005. The increasing unemployment rate affected the purchasing power of the common man resulting in low sales of microwaves in the country.

The rising urban population that accounts for about 42.7% of the total population in 2020 would also foster the growth of the microwave market during the forecast period. The growing аwаrеnеѕѕ regarding the usage of microwaves among individuals from the middle and lоwеr-middle іnсоmе segment, particularly іn urbаn аrеаѕ, соuрlеd with improving living standards аrе ѕоmе оf the fасtоrѕ ехресtеd tо сrеаtе potential rеvеnuе opportunities fоr рlауеrs ореrаtіng іn microwave market.