Toaster Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F, Segmented By Product Type (Pop-Up Toaster, Conveyor Toaster), By Type (2 Slice Toaster, 4 Slice Toaster, More than 4), By Application (Residential, Hospitality, Food Services, Education, Others (Healthcare, Offices etc.)), By Distribution Channel (Retail, Online, Non-Retail), By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationToaster Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F, Segmented By Product Type (Pop-Up Toaster, Conveyor Toaster), By Type (2 Slice Toaster, 4 Slice Toaster, More than 4), By Application (Residential, Hospitality, Food Services, Education, Others (Healthcare, Offices etc.)), By Distribution Channel (Retail, Online, Non-Retail), By Region, Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD3.21 Billion |
| CAGR (2023-2028) | 4.70% |
| Fastest Growing Segment | Online |
| Largest Market | North America |
Global Toaster Market is anticipated to project robust growth in the forecast period due to growing demand from western countries, rising demand from commercial sector (such as hotels, restaurants, cafes), ease of availability of baked bread slices, and rising adoption of innovation offering by the companies.
A toaster is a kitchen appliance used to cook items like bagels, crumpets, and sliced bread by using radiant heat. A standard toaster heats a piece of bread using heat emitted from heated electric elements. Toasting involves reducing the bread’s water content, increasing its temperature, mildly heating it up and caramelizing its top layer. The complex starch molecules split into more simple sugar molecules during the caramelizing process, which is a chemical reaction. This is the reason why toasted bread is usually sweeter than regular bread.
The key market growth drivers include rising awareness of energy efficient kitchen appliances and increasing demand for electric kitchen appliances.
Increasing Awareness of Energy Efficient Products Will Fuel the Market Growth
The manufacturing of energy-efficient appliances has been driven by growing environmental concerns about pollution and global warming. Thus, adoption of technologically advanced kitchen appliances to reduce carbon footprint emissions could be among the most effective strategies in conserving environment.
The government of many countries has established and revised rules and regulations for technology-based products with the objective of reducing carbon footprints. Therefore, companies are trying to enhance this function by various innovations and modifications in appliances. For instance, Morphy Richards launched the first ecolectric toaster which is energy efficient and made from recycled material with the aim to offer a product which uses 34% less energy than standard toasters. The toaster also consists of various features such as auto-closed lid, frozen and reheating options which keep heat within the toaster, speeding up toasting while using less electricity. Thus, increasing demand for energy efficient appliances will boost market growth.
Rising Demand from Cafes and Restaurants
New Product Launches Will Promote the Market Growth
Nowadays, customers prefer multifunctional, highly automated electronic appliances for their regular household tasks. Rapid urbanization and rising customer demand for electric kitchen appliances are the main factors propelling market expansion. In order to cater the rising demand, companies are manufacturing innovative appliances for kitchen needs. For instance, in 2020, Revolution Cooking launched R180 High Speed Smart Toaster, which has touchscreen display. The screen replaces the function of hardware controls like buttons and switches and provides customers with visual feedback about the toasting process. Thus, electric toasters are being used more frequently due to changing lifestyle and busy schedule of customers.
Market Segmentation
The Toaster Market is segmented based on product type, type, application, distribution channel and region. Based on product type, the market is segmented into pop-up toaster and conveyor toaster. Based on type, the market is segmented into 2 slice toaster, 4 slice toaster, and more than 4. Based on application, the market is divided into residential, hospitality, food services, education, and others (healthcare, offices etc.). Based on distribution channel, the market is divided into retail, online, and non-retail. Based on region, the market is segmented into Asia-Pacific, North America, Europe, Middle East & Africa, and South America.
Company Profiles
Koninklijke Philips N.V., Morphy Richards Limited, Stanley Black & Decker, Inc.,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion, Volume in Million and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product Type Type Application Distribution Channel Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa and South America |
| Country Scope | China, India, Japan, South Korea, Australia, United States, Canada, Mexico, Germany, France, United Kingdom; Italy, Spain, Saudi Arabia, UAE, South Africa, Turkey; Brazil; Argentina, Colombia |
| Key Companies Profiled | Koninklijke Philips N.V., Morphy Richards Limited, Stanley Black & Decker, Inc., Hamilton Beach Brands, Inc., Kenwood Limited, Breville Pty Ltd, Cuisinart Corporation, Whirlpool Corporation (KitchenAid), Groupe SEB USA (Krups), and APW Wyott Foodservice Equipment, Inc. |
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