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COVID-19 had a drastic impact on the Kuwait microwave ovens market in the second and third quarter of 2020 due to the discontinuities in the production of microwave ovens due to impositions of lockdown in major areas in Kuwait. Also the supply chain was disrupted, as a result of which the sales of Microwave ovens took a toll.
The Kuwait microwave ovens market has witnessed a constant growth and particularly owing to the growth in the household segment. This is majorly due to the improved lifestyle of the people and these days they prefer ovens for baking, instant heating of fast food such as pizza and burger. The market is predicted to witness several changes owing to changing customer inclinations and the pressure of macro-economic and socio-economic aspects. Several macroeconomic aspects incorporate growing consumer knowledge, increase in disposable income, and increasing size of the populace. In this regard, the development of the market is foreseen to be driven favorably in the coming future, leading to immense growth of the market.
Growing count of customers, in the working group is increasing the demand and popularity for the microwave ovens market. This is due to the risen expenditure on kitchen electrical appliances that ease the demands of the expected chores. This demand is anticipated to increase in the coming years owing to the growing need for stylish and convenient appliances balancing the standards of living of the buyers. The microwave ovens market in Kuwait is expected to witness a constant growth in the coming 5 years.
Scope of the Report
Microwave oven mainly works on thermal energy which requires heating the polar molecules in food items; this method is also called as dialectic heating. The microwave rays released from microwave ovens are usually of shorter wavelength but have a massive amount of energy which helps in faster cooking. Microwave ovens are majorly utilized for baking, roasting, and grilling. Kuwait Microwave Ovens Market is segmented in terms of By type, end-user and distribution Channel. By Type, the market is segmented into convectional, grill, and solo. By end-user, the market is segmented into residential and commercial. By distribution channel, the market is segmented into multi-branded stores, exclusive stores, online stores, and other distribution channels.
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Key Market Trends
Increase in the percentage of Sales through Online mode
There has been an increase in the sales of microwave ovens through online channels due to multitude factors. These factors include increase in the number of e-commerce platforms in the recent years, increase in the number of internet users in the recent years and increased availabilty of delivery services of the e-commerce platforms across the country. Also there has been an increase in the working population in Kuwait and purchasing through online mode saves their time as majority of the working population are engaged in long working hours. Moreover, the necessity of offline visit to the store is eliminated as e-commerce platforms provide a wide range of products. In the years 2020 and 2021, there was a higher percentage in the increase of online sales of microwave ovens than that of the previous years.
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Gradual Increase in the Revenue per Capita of Microwave Ovens in Kuwait
The rapid urbanization in majority of the areas in Kuwait as a result of increase in the number of working population across Kuwait. Also their rate of immigration is high in Kuwait because of the higher wages (when coverted into USD) compared to other gulf countries. As a result, the standard of life of people has increased over the years. Moreover, the current lifestyle of majority of the working population in Kuwait is a major driver for them to go for electric appliances which makes the work easier for them. In addition to this, the increased preference for fast food and subsequent requirement for heating them and grilling them is accounting for the increase in the usage of microwave ovens. This has led to increase in the revenue per capita in Kuwait in the recent years
The report includes an overview of the top players in the Microwave Ovens Market operating across Kuwait. The Kuwait Microwaves Ovens market is characterized by moderately consolidated players along with some other local players. Although the major players make more than 40% of the market, it can be infered that the market is slightly concentrated and other significant portion being occupied by the new players.
- On December 2021, LG has launched LG’s InstaView Double Oven Gas Slide-in Range and the Over-the-Range Microwave Oven connect with the LG ThinQ Recipe app which will allow owners to find recipes and cook thousands of step-by-step recipes with guidance from their appliances.
- On March 2021, Samsung has announced the expansion of its kitchen appliances range by launching the " Baker Series Microwaves" that come with industry first features such as steaming, grilling and frying with pro-level convection features that will appeal to young millennials who have turned into home chefs and are adopting healthy eating habits.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. INDUSTRY DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Impact of Technology and Innovation in Operations in Microwave Ovens
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's 5 Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.2 By End-User
5.3 By Distribution Channel
5.3.1 Multi-Branded Stores
5.3.2 Exclusive Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Competition Overview
6.2 Company Profiles
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Kuwait Microwave Ovens Market market is studied from 2018 - 2027.
What is the growth rate of Kuwait Microwave Ovens Market ?
The Kuwait Microwave Ovens Market is growing at a CAGR of >3% over the next 5 years.
Who are the key players in Kuwait Microwave Ovens Market ?
Daewoo, LG, Midea, Kenwood, Samsung are the major companies operating in Kuwait Microwave Ovens Market .