Report Update Nov 1, 2024

Philippines - Microwave Ovens - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Microwave Oven Market 2024

Microwave Oven Market Size in the Philippines

The Philippine microwave oven market skyrocketed to $X in 2022, with an increase of 27% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a prominent increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Microwave Oven Exports

Exports from the Philippines

For the fifth year in a row, the Philippines recorded growth in overseas shipments of microwave ovens, which increased by 229% to X units in 2022. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, microwave oven exports soared to $X in 2022. In general, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X units) was the main destination for microwave oven exports from the Philippines, with a 96% share of total exports. Moreover, microwave oven exports to Malaysia exceeded the volume sent to the second major destination, Finland (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +695.8%.

In value terms, Malaysia ($X) emerged as the key foreign market for microwave ovens exports from the Philippines, comprising 100% of total exports. The second position in the ranking was held by Finland ($X), with a 0.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled +1,118.8%.

Export Prices by Country

The average microwave oven export price stood at $X per unit in 2022, rising by 19% against the previous year. Overall, the export price, however, saw a deep contraction. The growth pace was the most rapid in 2021 when the average export price increased by 43%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Finland stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+71.2%), while the prices for the other major destinations experienced mixed trend patterns.

Microwave Oven Imports

Imports into the Philippines

In 2022, approx. X units of microwave ovens were imported into the Philippines; with an increase of 27% on the year before. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 116%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, microwave oven imports soared to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 95%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of microwave oven to the Philippines, with a 88% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.3%.

In value terms, China ($X) constituted the largest supplier of microwave ovens to the Philippines, comprising 79% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.9%.

Import Prices by Country

In 2022, the average microwave oven import price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, microwave oven import price increased by +11.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 64%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for microwave ovens in the world?

The countries with the highest volumes of in 2021 were China, South Africa and the United States, together accounting for 85% of global consumption.

What are the largest producers of microwave ovens in the world?

China constituted the country with the largest volume of microwave oven production, comprising approx. 85% of total volume. It was followed by Malaysia, with a 2.2% share of total production.

What are the leading suppliers of microwave ovens to the Philippines?

In value terms, China constituted the largest supplier of microwave oven to the Philippines, comprising 82% of total imports. The second position in the ranking was occupied by Malaysia, with a 15% share of total imports.

What is the average export price for microwave ovens in the Philippines?

The average microwave oven export price stood at $91 per unit in 2021, picking up by 140% against the previous year.

What is the average import price for microwave ovens in the Philippines?

In 2021, the average microwave oven import price amounted to $31 per unit, picking up by 3.1% against the previous year.

This report provides an in-depth analysis of the microwave oven market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27512700 - Domestic microwave ovens

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023