New Report Available: Microwaves in Saudi Arabia

From: Fast Market Research, Inc.
Published: Mon Feb 09 2015

Increasingly hectic lifestyles in the country, triggered by the continuing Saudisation programme, which saw a larger number of locals join the workforce, created increased demand for quick and easy solutions to heat up and cook meals in a limited time. Also, the rising number of women joining the workforce, as a result of a gradual relaxation of the stringent regulations governing women’s employment in the country in recent years, fuelled growth, as women had less time to spend at home, thus making microwaves the perfect appliance. Also, the younger population, keen to adopt Western habits, fuelled growth in sales of microwaves, in line with the rising popularity of ready meals and frozen processed food, which are often reheated or cooked in a microwave.

Competitive Landscape

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United Yousef M Naghi continued to lead microwaves in 2014, with a volume share of 37%. The company’s flagship LG brand has a long-standing presence in the market, has widespread distribution and a strong international brand name to leverage. Also, the fact that the company offers a range of different models at different price points, ranging from economy to premium, leads to high sales to all segments of the population. Nonetheless, the company saw a static share in 2014, whilst "others" increased, as low-priced Asian imports competed with branded products and profited from the growth in the category.

Industry Prospects

Growth in microwaves is expected to remain healthy over the forecast period, registering a moderate volume CAGR of 3%. Healthy growth is expected to continue to be driven by increasingly hectic lifestyles, as cities become bigger and commuting hours longer. Also, the growing urbanisation trend is expected to fuel the need for convenience, which is likely to push sales of microwaves. The expected surge in construction projects as the government strives to combat the housing shortage in the country will also contribute to growth in sales of microwaves. This, coupled with population growth, both as a result of the high birth rate in the country and the influx of Arab expatriates fleeing political and economic unrest in neighbouring countries, will continue to fuel growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Microwaves industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Microwaves industry in Saudi Arabia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Microwaves in Saudi Arabia market research report includes:

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