After rebounding from the disruption caused by the pandemic, which led microwaves to see a slight decline in retail volume terms in the review period, microwaves is expected to see growth in both retail volume and current value terms in Brazil in the forecast period, and see a full return to the 2019 level of sales. This will be driven by the penetration rate of under 50%, and a more positive economic scenario, with a lower basic interest rate likely to be seen, which will favour the retail market.
South Korean company LG is set to remain the second player in microwaves in Brazil in retail volume terms in 2024. The company has had a presence in the Brazilian market for nearly 30 years, but at the beginning of 2024 it announced a Memorandum of Understanding with the Paraná state government regarding the construction of its second factory in the country – the first outside the Manaus free trade area.
The small amount of space in new apartment units in Brazil is a trend which is likely to impact microwaves moving forward. This will affect mainly the major cities in the country, with new apartment units having more limited space for appliances, and therefore consumers will be looking to minimise the space taken up on countertops.
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Understand the latest market trends and future growth opportunities for the Microwaves industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Microwaves
Microwaves use electromagnetic waves to heat food. When the waves are absorbed by water, fats or sugars, they‘re converted directly into atomic motion – or heat. Unlike conventional ovens, in which heat is conducted from the outside of the food towards the centre, the microwave‘s radio waves target the water and fat molecules evenly, throughout the food.
See all of our definitionsThis report originates from Passport, our Microwaves research and analysis database.
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