Global Automatic Bread Machine Market Price 2024, Forecast To 2033
12 Nov, 2024
The automatic bread machine market has seen significant growth in recent years, with an increase from $2.8 billion in 2023 to $2.99 billion in 2024 at a CAGR of 6.8%. This historic growth is due to factors like rising consumer demand for convenience, advancements in kitchen appliance technology, increased health awareness, higher disposable incomes, and the expansion of e-commerce. The automatic bread machine market is projected to experience significant growth, reaching $3.92 billion by 2028, with a compound annual growth rate (CAGR) of 6.9%. This growth is driven by the increasing adoption of smart kitchen appliances, rising interest in gluten-free and specialty diets, urbanization, smaller living spaces, advancements in energy-efficient technologies, and demand for multifunctional devices. Key trends include integration with smart home systems, demand for compact designs, eco-friendly materials, personalized baking options, and expanded gluten-free and specialty bread capabilities.
Major Driver In The Automatic Bread Machine Market
The increase in the number of working women is expected to drive the growth of the automatic bread machine market in the coming years. A working woman is an individual engaged in paid employment outside the home to support herself or her family. This rise in working women is driven by factors such as economic necessity, higher educational attainment, changing social norms, increased career opportunities, and the need for better work-life balance. Automatic bread makers provide a convenient solution for working women by simplifying the process of baking fresh bread, saving both time and effort. This enables them to focus on their employment opportunities while promoting a healthier lifestyle. According to the Bureau of Labor Statistics, in 2023, 74% of working mothers with children under the age of 18 were employed, marking a 1.1 percentage point increase from the previous year. As the number of working women continues to rise, it is driving growth in the automatic bread machine market. The market size in 2023 was valued at $1.2 billion, projected to reach $1.5 billion in 2024, and is expected to grow to $2.5 billion by 2028.
Request A Free Sample Of The Automatic Bread Machine Market ReportAutomatic Bread Machine Market Competitive Landscape
Panasonic Corporation, Midea Group Co Ltd., De'Longhi Appliances S.r.l, Cuisinart, AUCMA, Welbilt Inc., Breville Pty Ltd., Hamilton Beach, Lakeland, Severin, Frigidaire, Sunbeam Products Inc., Taurus Private Limited, Kenwood, Zojirushi America Corporation, Morphy Richards Limited, Galanz, AICook, T-FAL, Livoo, Klarstein, West Bend, Coocheer, Kuissential
Key Automatic Bread Machine Market Trend
Companies in the automatic bread machine market are working on developing bread makers with double temperature sensors to meet the growing demand for customizable baking. These machines use two sensors to monitor both dough and baking temperatures, ensuring even baking and higher bread quality. An example is Panasonic Corporation's launch of the SD-R2550 in August 2022, featuring 20 pre-set programs for a variety of baked goods. It offers manual settings for dough kneading and fermentation, simulating artisan techniques for better results, and includes a raisin & nut dispenser for optimal ingredient mixing.
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Global Automatic Bread Machine Market Segmentation
The automatic bread machine market covered in this report is segmented –
1) By Type: Commercial Grade, Home Grade
2) By Distribution Channel: Online, Offline
3) By Application: Bread, Sandwich, Pizza, Other Applications
By Geography:The regions covered in the automatic bread machine market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the automatic bread machine market in 2023.
The Automatic Bread Machine Global Market Report 2024 furnishes information about the global automatic bread machine market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.