Panasonic sees slump in UK microwave sales amid air fryer boom
Panasonic’s UK arm has seen a slump in sales of microwaves as consumers increasingly turn to air fryers to sate their home cooking needs.
The Cardiff-based business, which manufactures microwaves as well as medical devices, said it saw a 10 per cent fall in revenue from its microwave oven division to £44.8m in the year to the end of March. That would amount to around 64,000 fewer microwaves sold, based on an average sale price of £75.
The drop compares to a jump in profits for leading air fryer maker Ninja, which saw a 66 per cent rise in sales for its UK subsidiary, according to the company’s latest accounts, as it capitalised on the boom in demand for the fashionable hot air-based cooking device.
“The European consumer market continued to show signs of weakness, with rising cost and ongoing inflationary pressures,” Panasonic said in a statement.
“These economic challenges combined with declining income expectations and reduced customer willingness to spend, have negatively impacted demand.”
The firm added that “a full recovery in consumer demand is not expected in 2026 however the division has secured several new confirmed projects and is expanding its customer base.”
Panasonic UK, which last year opened its first hydrogen-powered plant in Europe at its Wales microwave factory, reduced its headcount by 33 to 320 employees earlier this year, the accounts show.
“The division’s cost-reduction strategy remains focused on strengthening supplier partnerships in the Far East and continuously improving productivity,” the company said.
“By securing better procurement terms, integrating supply chain activities, automating processes, and investing in staff development, the. company aims to drive operational efficiencies.”
The company posted a loss of £3.7m for the year, a slight reduction on the £4.9m loss the previous year.