United States Microwave Oven Market Report and Forecast 2024-2032

United States Microwave Oven Market Outlook

The United States microwave oven market size reached approximately USD 2.07 billion in 2023. The market is projected to grow at a CAGR of 3.6% between 2024 and 2032, reaching a value of around USD 2.86 billion by 2032.

Key Takeaways

• The demand for smart and technologically advanced microwave ovens is expected to increase rapidly in the US in the coming years.

• Multi-purpose microwave ovens constitute a major share of the United States microwave oven market.

• The US Consumer Product Safety Commission is expected to introduce a ban on gas stoves to prevent rising cases of asthma among children.

A microwave oven is a household appliance that is used to prepare food. Its magnetron (an electron tube) produces non-ionising electromagnetic rays that get reflected within the interior of the oven and cause the water molecules within the food to shake, which causes it to heat up and get cooked. It is an energy-efficient process which does not compromise the nutritional value of the food and reduces cooking time. As per the US Bureau of Statistics, more than 90% of households in the US owned microwave ovens as early as 1997.

Growth in the number of nuclear families in the USA is one of the key factors aiding the United States microwave oven market growth. As consumer electronics companies continue to expand their product portfolio and introduce innovative microwave ovens with multi-purpose functionalities, the market is expected to grow favourably in the forecast period.

Key Trends and Developments

The development of multi-purpose microwave ovens; smart connectivity options offered by microwave ovens; integration of AI in microwave ovens; and rising focus on sustainability are the major trends impacting the United States microwave oven market growth

United States Microwave Oven Market Trends

Approximately 70% of the entire US population relies on smart speaker devices like Amazon Echo. Reportedly, in 2024, nearly 70 million households in the US actively use smart home devices, a 10.2% increase from the previous year. To capitalise on these trends, key players are launching microwave ovens that can be controlled by smart speakers and seamlessly integrate with smart home setups.

The integration of advanced technological features into microwaves is also expected to enhance their adoption in commercial and residential settings. Smart ovens are designed to measure the optimum cooking time for food and their AI algorithms send custom alerts to users to ensure food does not get burnt.

They connect seamlessly across devices and applications and ensure food gets cooked properly and safely. Advancements in technology are expected to aid the United States microwave oven market growth in the coming years.

Market Segmentation

“United States Microwave Oven Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

The e-commerce sector is expected to dominate the United States microwave oven market share over the forecast period

With rising accessibility of the internet and rising smartphone penetration, American consumers are increasingly using online channels for purchasing consumer electronic items like microwaves. E-commerce channels provide free product delivery to consumers and provide budget-friendly options for their purchases. They also enable consumers to make a smart and informed choice about their product by checking customer reviews and brand information.

Multi-brand stores and exclusive stores are also expected to witness a steady influx of customers in the forecast period as people seeking attractive discount coupons and professional advice on product purchase visit these retail stores.

Residential use of microwave ovens is expected to register significant growth in the coming years

The rising use of microwave ovens for residential purposes is expected to aid the United States microwave oven market growth in the coming years. This can be attributed to the growing consumption of high amounts of packaged for dinner and breakfast, driven by the increase in busier lifestyles of the working population. The use of microwaves by small size families is expected to rise in the United States as they reduce cooking time and deliver healthy meals for all family members easily.

Commercial use of microwaves is also expected to witness steady as consumption of pizza and other fast foods remains robust over the forecast period. Enhanced safety, consistency, and speed of microwave ovens are also boosting their usage in commercial settings.

Competitive Landscape

Major players in the United States microwave oven market are collaborating to manufacture innovative microwave ovens that cater to evolving consumer demands

Other players in the United States microwave oven market include Robert Bosch GmbH, LG Electronics Inc., Samsung Electronics Co Ltd, Electrolux AB, Toshiba Corp., and Midea Group Co. Ltd., among others.

Key Highlights of the Report