Market Trends of Oman Microwave Ovens Industry
This section covers the major market trends shaping the Oman Microwave Ovens Market according to our research experts:
COVID-19 has Increased the Demand for Residential Application
The most significant driver for residential application segment is the changing lifestyles and food consumption preferences of people due to the Pandemic. As more consumers shifting toward ready-to-eat and frozen food products due to the rapid change in the lifestyle of the costumers as well as the dynamic working environment that costumers live in. In the past years, residential application segment accounted for a large revenue share, and it is likely to expand at a healthy CAGR over the forecast period. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchens. This may be a drawback for the residential segment of the market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn, is expected to work in favor of the market.
Smart and Portable Microwave Ovens is Driving the Market
Growing Urbanization has demanded the innovation sector to grow in every industry, as has the Microwave Ovens Industry. Smart Ovens use radiofrequency technology which can be used for heating, baking, boiling, and steaming food, which attracts more consumers to buy Microwave Ovens and will propel the growth of the market. Oman customers are attracted to innovative microwave ovens such as IoT ovens which are now increasing in trend as it has the ability to connect with the internet and cooking settings can be changed through the use of smartphones manually, which in turn is expected to increase the market demand. The adoption rate of Portable Microwave Ovens is increasing at a fast pace which creates growth opportunities in the demand for Microwave Ovens in the market. The Portable Microwave Oven has the ability to function as a normal one with good battery life and is available at a lower price, which could contribute to a higher demand for microwave ovens boosting the market growth.
