Global Bread Maker Market to Reach USD 11.13 Billion by 2032, Driven by a 4.71% CAGR During the Forecast Period

The global bread maker market size was valued at USD 7.48 billion in 2023 and is expected to be worth USD 7.70 billion in 2024. The market is projected to reach USD 11.13 billion by 2032, recording a CAGR of 4.71% during the forecast period.

Bread maker machines enable users to create a diverse range of bread at home cost-effectively. The increasing demand for innovative home appliances and the rising replacement rate of such appliances are driving market growth.

The COVID-19 pandemic prompted many consumers to try baking bread for the first time, significantly boosting the demand for baking machines. However, COVID-19-related lockdowns led to limited operations or closures of bakeries, adversely affecting global sales of commercial baking machines.

Fortune Business InsightsTM displays this information in a report titled, "Bread Maker Market, 2024-2032."

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List of Key Players Mentioned in the Report:
▶ Midea Group (China)
▶ Philips Koninklijke N.V. (Netherlands)
▶ Panasonic Corporation (Japan)
▶ Breville Pty Ltd (Australia)
▶ Zojirushi Corporation (Japan)
▶ Stanley Black & Decker Inc. (U.S.)
▶ GEA Group Aktiengesellschaft (Germany)
▶ Ali Group Worldwide (Ireland)
▶ JBT Corporation (U.S.)
▶ Fritsch Group (Germany)
▶ Newell Brands Inc. (U.S.)
▶ Spectrum Brands Holdings, Inc. (U.S.)

Segmentation:
Horizontal Loaf Machines Led Market Because it Allows Users to Bake Larger Volumes of Bread

Based on form, the market is bifurcated into a horizontal loaf and a vertical loaf. The horizontal loaf segment emerged as the leader in the global bread maker market in 2023. The segment is particularly favored because it allows users to bake larger volumes of bread compared to vertical loaf products.

Commercial Segment Held Largest Share Owing to Substantial Investments Made By Bakery Industries in Processing Equipment

Based on end-user, the market is split into household and commercial. The commercial segment held the largest bread maker market share in 2023. This dominance can be attributed to the substantial investments made by bakery industries in processing equipment. These industries are continuously focused on enhancing product efficiencies and installing advanced machinery, which has driven the demand for commercial bread makers.

Offline Segment Dominated Market Due to Substantial Orders Placed By Bread Manufacturing Industries

Based on distribution channel, the market is sub-segmented into online channels and offline channels. The offline segment captured the largest market share in 2023. The higher share can be linked to the substantial orders placed by bread manufacturing industries for processing equipment through direct selling channels.

With respect to region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, forms, distribution channels, end-users, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

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Drivers and Restraints:
Growing Preference Among Consumers for Home-Baked Goods to Fuel Market Growth

The growing preference among consumers for home-baked goods driven by health concerns regarding gluten and preservatives in commercial breakfast items is significantly boosting global demand for bakery products. Additionally, retail bakeries are increasingly favoring bakery machines for mass production over microwave ovens, enhancing sales in these establishments.

However, higher initial investment and ongoing costs related to electricity and maintenance of bakery processing equipment are limiting demand further stifling the bread maker market growth.

Regional Insights:
North America Led Global Market Owing to Increased Demand for Packaged Flatbread

The North American market for bread makers was valued at USD 2.42 billion in 2023, capturing a significant market share. Households in the U.S. and Canada primarily consume packaged food staples sourced from retail bakery outlets, with increased demand for packaged flatbread contributing significantly to regional revenue.

Europe held the second position in the global market in 2023. A surge in bakery product launches across Germany, Italy, Spain, and other European nations led to a notable increase in the utilization of bakery item processing equipment during 2020.

Competitive Landscape:
Prominent Market Leaders to Develop Versatile Cooking Appliances Equipped with Various Baking Settings

Prominent market leaders, including Midea Group, Philips Koninklijke NV, and Panasonic Corporation, are dedicated to developing versatile cooking appliances equipped with various baking settings. These innovations empower users to create food items with customized shapes and textures.

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Key Industry Development:
October 2022: Wilkinson Baking Company raised USD 3.0 million in seed funding to expand its deployment of BreadBots, automated machines designed for artisanal bread production within U.S. bakeries. This investment aims to enhance the integration of robotic technology in the baking industry.

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This release was published on openPR.