What Has Been the Growth of the Toasters Market So Far?
The toasters market has seen considerable growth due to a variety of factors.
• The toasters market has grown rapidly in recent years, anticipated to grow from $3.94 billion in 2024 to $4.34 billion in 2025, at a CAGR of 10.2%.
Growth drivers include increased electricity accessibility, industrialization, heightened marketing efforts, and growing demand for practical and efficient kitchen equipment.
How Will the Toasters Market?
The toasters market is expected to maintain its strong growth trajectory in upcoming years.
• The toasters market is expected to grow to $6.33 billion by 2029 at a CAGR of 9.9%.
The growth is driven by the demand for smart toasters, quick breakfast solutions, and urbanization. Key trends include smart features, customization, and enhanced safety features.
Which Factors Are Boosting Growth In The Toasters Market?
The increase in bakery product consumption is anticipated to propel the expansion of the toasters market. 'Bakery products' encapsulate an array of goods made using wheat flour, culminating in various final products related to the bakery industry. The industry persistently unveils unique and inventive products to cater to changing consumer predilections and flavors, providing accessible and healthier alternatives with nutritious ingredients, genuine tastes, and supplemental nutrition. Toasters serve as multifunctional devices capable of toasting a diverse assortment of bakery items, such as various kinds of bread, rolls, bagels, English muffins, croissants, and pastries, ensuring proficient toasting with negligible time and effort. For instance, global retail sales of bakery products were reported to be $407.2 billion in 2021, rising to $425.6 billion in 2022 by Statistics Canada, a governmental agency in Canada, in April 2023. These figures are projected to climb up to $518.8 billion by 2026, expanding at a pace of 5.1%. Consequently, the escalating consumption of bakery products is spurring the growth of the toasters market.
What Key Areas Define The Segmentation Of The Global Toasters Market?
The toasters market covered in this report is segmented –
1) By Product Type: Pop-Up Toasters, Toaster Ovens, Conveyor Toasters
2) By Distribution channel: Online, Offline
3) By End-User: Residential, Commercial
Subsegments:
1) By Pop-up Toasters: 2-Slice Pop-Up Toasters, 4-Slice Pop-Up Toasters
2) By Toaster Ovens: Countertop Toaster Ovens, Toaster Oven Broilers
3) By Conveyor Toasters: Electric Conveyor Toasters, Gas-Powered Conveyor Toasters
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What Emerging Trends Are Influencing The Growth Of The Toasters Market?
Major corporations in the toaster market are striving to innovate cooking characteristics or functionalities in kitchen gadgets to boost their performance, efficiency, and user-friendliness. The upgrades in technology aim to enhance the culinary experience and allow people to prepare tasty meals easily. For example, Tineco, a kitchen gadget firm from China, introduced TOASTY ONE, a dual-slot toaster with smart features, in October 2022. This product is notable for its 4 inch LCD touchscreen that provides a visible platform for users to control the toasting process. The product features GoldenCrispy technology that keeps the bread moist, while delivering a golden crispy exterior, thus fulfilling the texture of every slice. Similarly, the product uses IntelliHeat Technology that modifies the heat output and toasts to the selected level.
Who Are the Key Players In The Toasters Market?
Major companies operating in the toasters market are:
• Panasonic Corporation
• Whirlpool Corporation
• Stanley Black & Decker Inc.
• Groupe SEB SA
• The Middleby Corporation
• De'Longhi Group
• Breville Group
• Hamilton Beach Brands Inc.
• Braun GmbH
• Chefman LLC
• Conair Corporation
• Sunbeam Products Inc.
• Russell Hobbs Inc.
• Continental Electric Company Inc.
• Proctor Silex Ltd.
• Morphy Richards Limited
• Bodum USA Inc.
• StoreBound LLC
• Sunbeam Corp
• Sensio Inc.
• Brentwood Appliances Inc.
• Kenwood Limited
• Dualit Ltd.
• Smeg S.p.A.
• West Bend
• Lifetime Brands Inc.
• Salton Corp.
What Is The Most Dominant Region In The Toasters Market?
Asia-Pacific was the largest region in the toasters market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the toasters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
