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The residential microwave oven market size is forecast to increase by USD 5.71 billion at a CAGR of 8.8% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. Firstly, the increasing disposable income of consumers allows them to invest in modern kitchen appliances, including microwaves. Secondly, companies are focusing on new product innovations, such as smart and energy-efficient models, to cater to evolving consumer preferences. However, the market also faces challenges from alternative cooking methods and appliances, such as air fryers and convection ovens, which offer unique features and functionality. Despite these challenges, the market is expected to continue its growth trajectory due to the convenience and versatility of microwave ovens in modern households.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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