Commercial Microwaves Market: Market Outlook
Commercial microwaves are workhorses in most of the restaurant kitchen for cooking a variety of foods from delicate pastries to heavy roasts. Commercial microwaves are specifically designed to meet the demands of professional kitchens.
It is designed to be used at a much higher frequency than residential microwaves. Commercial microwaves have control panels, heavy-duty power cords, transformers, cooling fans, and commercial quality relays, unlike residential microwaves.
Commercial microwaves are built differently for ensuring that it withstands a higher volume of food and heavy usage at commercial kitchens, restaurants, bakery industries, and food processing industries. Changing eating preferences and lifestyles, frequency of fresh cooking declining, increased working population inclined towards commercial kitchens are trends supporting the growth for commercial microwaves.
Rising disposable income has increased the consumer demand for fast food thus escalating the growth of commercial microwaves.Food cooked inside commercial microwaves is considered to have cancer-causing agents.
The Increased penetration of substitute like toasted oven which offers increased functions compared to commercial microwaves like toasting, broiling, and baking, along with advanced functions of defrosting and roasting may restrict the market growth for commercial microwaves.
Commercial Microwaves Market: Market Dynamics
Consumers today look for a momentary escape from reality and wish to include luxurious treats for themselves. Millennials today seek food not just as aspect of sustenance but as a form of entertainment too, which has increased the consumption of fast food like pizza and different deserts.
The food service providers are constantly making efforts for attracting more customers with excellent services. Technologically advanced commercial microwaves that deliver fast cooking with convenience serve this demand of the providers, driving increased sales for the market.
Technology advancements to improve the performance of commercial microwaves to drive growth for the market
The manufacturers of the commercial microwave are including features known as Speed-Cook that provides a modern touch-screen interface and provides faster results than the conventional commercial microwave.
It combines broiling, true convection, and microwave for delivering fast results. Manufacturers are also providing inverter technology for heavy-duty microwaves for ensuring enhanced level of uniformity of energy with ultimate control and excellent cooking result.
Thus, the increased technological advancements aiding to more convenient handling of commercial microwaves for the end-use industries is expected to draw increased sales for the commercial microwaves market.
Global Commercial Microwaves Market: Key Players
The key players operating in the global commercial microwaves market are
- Ali Group
- Midea Group
- Panasonic Corporation
- Whirlpool Corporation
- Sharp Corporation
- The Vollarath Company
- Amana Corporation
- Dongbu Daewoo Electronics
- AB Electrolux
Global Commercial Microwaves Market: Opportunities
Key players like Midea Group and Ali Group are investing in research and development for energy efficiency, reliability, electric control, and electromagnetic compatibility for improved commercial microwaves thus marking an opportunity for increased sales with innovative products.
Many businesses large and small are moving from the traditional bakery offering to a keen food-to-go focus. This includes putting on good coffee with food choices such as pizza, cakes, croissants, pastries, and much more for meeting the increasing demand of consumers for fast food.
The number of such food chains, as well as commercial kitchens, is expected to increase with the frequency of fresh cooking declining, thus increasing demand for commercial microwaves. This creates an opportunity for new manufacturers to enter this market.
Commercial Microwaves Market Regional Outlook
The North American region dominates the market for commercial microwaves, owing to the heightened demand for the latest technology-enabled products in the food processing and foodservice industry.
With increasing urbanization and increased disposable income in developing economies like China and India, the Asia Pacific is expected to show the highest growth in the forecasted period. China is also home to many key manufacturers of commercial microwaves.
An increased adoption of the western trend in the Asia Pacific for fast food like pizza and pasta has increased the demand for food equipment like commercial microwaves in the foodservice industry and commercial kitchens.
COVID-19 Impact on Commercial Microwaves Market
The spread of COVID-19 has affected the world economy with an impact on the electronics and electrical industry. The slowdown in manufacturing industries has brought the key manufacturers of commercial microwaves to grinding halt.
Supply chain disruptions, reduced labor, disturbed trade flows, and scarcity of raw materials remains as major challenge in front of the manufacturers. The industrial electronic device industries are on the brink of facing fluctuations in prices due to reduced production.
The end-use industry for commercial microwaves is itself battling with the aftermath of the pandemic; hence, the COVID-19 spread is expected to severely affect the sales of commercial microwaves in the near term.
Regions and Countries Analyzed in the Report
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Commercial Microwaves Market: Market Segmentation
By Product Type
- Heavy-Duty Commercial Microwave
- Medium-Duty Commercial Microwave
- Light-Duty Commercial Microwave
By End-use Industry
- Food Processing Industry
- Food Service Industry