In 2023, the household expenditure on microwave ovens in Japan stood at 1.31 thousand Japanese Yens. The forecasted data for the years 2024 through 2028 shows a steady increase: 1.32 in 2024, 1.34 in 2025, 1.35 in 2026, 1.37 in 2027, and 1.38 thousand Japanese Yens in 2028. This trend indicates a year-on-year growth of approximately 0.76% to 1.47% each year.
The Compound Annual Growth Rate (CAGR) over the last five years, spanning from 2024 to 2028, is expected to average around 1.06% per year. This reflects a consistent and moderate increase in household expenditure on microwave ovens.
Future trends to watch for include technological advancements in microwave ovens, such as smart features, energy efficiency, and multi-purpose functionalities. Additionally, consumer preferences for convenient and quick cooking solutions may further drive the market growth. Monitoring economic factors and consumer spending patterns will also be crucial for a more detailed understanding of the market dynamics.