Soaring Demand Set to Propel Toasters Market to $5.96 Billion by 2029

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What Is the Expected CAGR for the Toasters Market Through 2025?
In the past few years, the market size for toasters has seen robust growth. The market is projected to expand from $3.94 billion in 2024 to $4.27 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. The thrust in the historic period's growth is due to greater accessibility to electricity, industrial advancement, elevated advertising and marketing efforts, and a surge in the demand for efficient and convenient kitchen appliances.

What's the Projected Size of the Global Toasters Market by 2029?
In the upcoming years, the toasters market is anticipated to experience robust growth, escalating to $5.96 billion in 2029 with a compound annual growth rate (CAGR) of 8.7%. This growth during the projected period can be credited to the emergence of smart toasters with connectivity features, the need for speed and convenience in breakfast preparation, and increased urbanization. The forecast period will see considerable trends such as integration of smart features, customization and personalization, and improved safety features, alongside partnerships and investments.

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Top Growth Drivers in the Toasters Industry: What's Accelerating the Market?
An increase in the demand for bakery items is anticipated to contribute to the expansion of the toasters market. Bakery items encompass a vast array of products made primarily from wheat flour, resulting in a diverse selection of final baked goods. The bakery sector constantly rolls out inventive and novel products to cater to shifting customer tastes and preferences, focusing on convenience and healthier choices featuring nourishing ingredients, natural tastes, and nutritional boosts. Toasters are multifunctional devices capable of toasting an assortment of bakery items, such as various breads, rolls, bagels, English muffins, croissants, and pastries, promising effective toasting with little time and effort. To illustrate, Statistics Canada, a government agency in Canada, reported in April 2023 that the worldwide retail sales of baked products amounted to $407.2 billion in 2021, escalated to $425.6 billion in 2022, and is projected to hit $518.8 billion by 2026, increasing at a rate of 5.1%. Thus, the escalating demand for bakery items is propelling the expansion of the toasters market.

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What Trends Will Shape the Toasters Market Through 2029 and Beyond?
Leading firms in the toaster marketplace are concentrating on inventing new and improved cooking functionalities for their kitchen gadgets to enhance performance, efficiency, and convenience. With advances in technology, the goal is to transform the cooking experience, enabling customers to prepare delicious meals simply. For example, Tineco, a kitchen appliance firm from China introduced TOASTY ONE, a dual-slot smart toaster, in October 2022. One remarkable feature of this product is its 4-inch LCD touch screen that provides users with a visual way to manage the toasting. The appliance uses GoldenCrispy technology, which retains inner moisture of the bread while getting a golden crisp exterior for an enjoyable texture with each slice. Notably, the toaster also includes IntelliHeat Technology, which modulates heat output for toasting to the desired level.

What Are the Main Segments in the 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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Which Top Companies are Driving 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.

Which Regions Will Dominate the Toasters Market Through 2029?
Asia-Pacific was the largest region in the toasters market in 2024. 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.

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