Smart Bread Makers Market Insights and Growth Outlook 2024

"The Business Research Company recently released a comprehensive report on the Global Smart Bread Maker Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The smart bread maker market size has grown strongly in recent years. It will grow from $1.1 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to a rise in health-conscious consumers, increased demand for home-cooked meals, technological advancements in kitchen appliances, growing popularity of automated baking, increasing disposable incomes, and the expansion of urbanization and modern kitchens.

The smart bread maker market size is expected to see strong growth in the next few years. It will grow to $1.51 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to the growing trend of smart kitchen appliances, rising awareness of gluten-free and specialty breads, integration of IoT and smart features, demand for convenience in home baking, increasing consumer preference for energy-efficient appliances, and expanding e-commerce and online retail channels. Major trends in the forecast period include smart connectivity and app-controlled bread makers, rising demand for compact and space-saving models, customizable and multipurpose bread makers, integration of AI for personalized baking settings, growing focus on sustainability and eco-friendly materials, and development of bread makers for niche dietary preferences.

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Market Drivers and Trends:

The growing fast food sector is expected to propel the growth of the smart bread maker market. The fast-food sector comprises restaurants that offer quick-service meals, often featuring standardized menus with items such as burgers, fries, and fried chicken, designed for rapid preparation and consumption. The fast food sector is growing rapidly due to increasing consumer demand for convenient, affordable, and readily accessible meals amidst busy lifestyles. In the fast food sector, smart bread makers are used to streamline and standardize bread production, ensuring consistent quality and efficiency in high-volume operations. For instance, in 2023, according to report published by Aviko, a Netherlands-based food company, the UK fast food sector expanded from 20.61 billion in 2022 to 22.04 billion in 2023, with consumer visits to fast food outlets rising to 45% in June 2023. Therefore, the growing fast food sector will drive the growth of the smart bread maker market.

Major companies operating in the smart bread maker market are focusing on personalized products, such as mini bread makers, to cater to diverse consumer preferences and enhance convenience. A mini bread maker is a compact appliance designed to bake small loaves of bread or dough, ideal for households with limited kitchen space or for those who want to bake fresh bread in smaller quantities. For instance, in September 2024, Panasonic Holdings Corporation, a Japan-based technology provider, launched the sd-pn100 mini bread maker, a compact, innovative appliance designed for smaller households, offering 18 auto-programs to create a variety of baked goods, including gluten-free options. It features advanced technologies such as dual temperature sensor technology and artisan-style kneading to ensure high-quality, customizable baking results with minimal waste.

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Major Key Players of the Market:

Panasonic Corporation, Midea Group Co. Ltd., Kitchenaid, Sharp Corporation, Koninklijke Philips N.V., Electrolux AB, BLACK+DECKER Inc., De'Longhi S.p.A., Breville Group Ltd., Cuckoo Electronics Co. Ltd., Lakeland Limited, Kent International Inc., Hamilton Beach Brands Holding Company, Aroma Housewares Co. Ltd., Cuisinart, Siroca Inc., KENWOOD Limited, Zojirushi Corporation, Gourmia Inc., Tefal, The Secura Group, Sunbeam Products Inc., Gastroback GmbH

Smart Bread Maker Market 2024 Key Insights:

• The smart bread maker market size is expected to see strong growth in the next few years. It will grow to $1.51 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Rising Fast-Food Sector Boosts Demand For Smart Bread Makers
• Enhancing Convenience With Compact Breadmaking Solutions
• North America was the largest region in the smart bread maker market in 2023

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This release was published on openPR.