Press release
Toasters Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Toasters
The growing consumption of bakery products is expected to accelerate the expansion of the toasters market in the coming years. Bakery products comprise various items made using wheat flour to create different baked goods. The bakery industry consistently develops innovative products to meet changing consumer preferences, offering convenient and healthier choices with wholesome ingredients, natural flavors, and improved nutritional content. Toasters are multifunctional appliances that efficiently toast an assortment of bakery items, such as bread, rolls, bagels, English muffins, croissants, and pastries, with minimal effort. For example, in April 2023, Statistics Canada, a Canadian government agency, reported that the global retail sales of baked goods were $407.2 billion in 2021, increasing to $425.6 billion in 2022. This figure is projected to reach $518.8 billion by 2026, growing at a rate of 5.1%. Therefore, the increasing consumption of bakery products is contributing to the growth of the toasters market.
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What is the future CAGR of the toasters market, and how will it impact industry expansion?
The toasters market has grown significantly in recent years. It is forecasted to expand from $3.94 billion in 2024 to $4.34 billion in 2025, reflecting a CAGR of 10.2%. This growth has been attributed to greater electricity accessibility, industrialization, increased advertising and marketing efforts, and the rising demand for efficient and practical kitchen appliances.
The toasters market is anticipated to see significant growth, reaching $6.33 billion by 2029 with a CAGR of 9.9%. Growth drivers include the increasing adoption of smart toasters with connectivity features, the demand for quick and convenient breakfast solutions, and rising urbanization. Key trends include the integration of smart features, customization and personalization options, enhanced safety features, as well as strategic partnerships and investments.
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What are the most significant trends transforming the toasters market today?
Companies in the toaster market are focused on integrating innovative cooking features or functionalities into kitchen appliances to enhance cooking performance, efficiency, and convenience. These technological improvements aim to elevate the cooking experience and allow users to create delicious meals with ease. For instance, in October 2022, Tineco, a China-based kitchen appliance company, launched TOASTY ONE, a dual-slot toaster with smart capabilities. The product is equipped with a 4-inch LCD touchscreen, offering a visual interface for controlling the toasting process. It uses GoldenCrispy technology to retain moisture in the bread while achieving a golden crisp exterior, enhancing the texture of each slice. Additionally, the toaster features IntelliHeat Technology, which adjusts heat output to toast bread to the selected level.
Which key market segments comprise the toasters market and drive its revenue growth?
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 regions are at the forefront of toasters market expansion?
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.
Who are the leading players fueling growth 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.
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What Is Covered In The Toasters Global Market Report?
•Market Size Forecast: Examine the toasters market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the toasters market for a structured understanding.
•Key Players Overview: Analyze major players in the toasters market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the toasters market.
•Segment Contributions: Evaluate how different segments drive overall growth in the toasters market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the toasters market.
•Industry Challenges: Identify potential risks and obstacles affecting the toasters market.
•Competitive Landscape: Review strategic developments in the toasters market, including expansions, agreements, and new product launches.
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