Global Toaster Market – Industry Trends and Forecast to 2029

Global Toaster Market, By Product (Pop-Up Toasters, Toaster Ovens, Conveyor Toasters), Type (2 Slice Toasters, 4 Slice Toasters, Others), Application (Commercial, Residential), Distribution Channel (Offline, Online) – Industry Trends and Forecast to 2029

Market Analysis and Size

Kitchen appliance manufacturers are constantly developing, innovating, and integrating IoT with toaster. Companies which are focusing on reducing energy consumption and promoting sustainability.

Data Bridge Market Research analyses that the toaster market was valued at USD 3.52 billion in 2021 and is expected to reach the value of USD 5.18 billion by 2029, at a CAGR of 4.95% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

A toaster is a type of electronic kitchen appliance that converts electrical energy into heat energy and is typically used to toast and grill bread slices, muffins, and waffles. Heat causes various types of sliced bread to transform into toasted slices. Modern toasters can also cook pizza, cookies, and other protein-based dishes in addition to toasting bread.

Global Toaster Market Dynamics

Drivers

• Intervention of advance products and rising popularity of smart kitchen appliance

Rapid urbanisation and rising consumer demand for electric kitchen appliances around the world are key factors driving market growth. With changing lifestyles and hectic schedules, consumers are increasingly turning to electric toasters to quickly and easily prepare their food. Furthermore, significant growth in the foodservice and hotel industries is creating a positive market outlook.

• The rapid advancements in products to provide convenience as well as are safe for environment

Various product innovations, such as the development of advanced variants with Bluetooth connectivity and automatic cut-off and lid-on features, are also driving growth. These novel variants can be linked to a smartphone app and track multiple users' toasting preferences. Other factors, such as rising consumer spending power and the development of compact and energy-efficient variants, are expected to drive the market even further. Looking ahead.

Opportunity

Rising environmental concerns about rising pollution and global warming have prompted the development of energy-efficient appliances. Technological advancements in line with this trend may enable manufacturers to make significant gains over the forecast timeline. Furthermore, regulatory bodies are expected to consider such portfolio in the industry, potentially boosting the current growth rate. The increasing number of e-commerce retailers, as well as next-generation device developments for increased consumer convenience, connectivity, and energy-saving features, are likely to present a potential growth landscape.

Restraints

High initial capital and maintenance costs are expected to have a negative impact on consumer interest in new device developments. Uneven economic development in rural China, India, and Africa is causing power outages. Furthermore, approximately 50% of the population in 38 of 49 Sub-Saharan African countries live without electricity, which will have a negative impact on the size of the toaster market.

This toaster market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the toaster market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Toaster Market

COVID-19 began in Wuhan (China) in December 2019 and has since spread rapidly throughout the world. As a result of the pandemic, the chemical and materials industry is one of the major industries experiencing severe disruptions such as supply chain breakdowns, technology event cancellations, and office closures. The closure of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa has had a negative impact on the global supply chain and has hampered manufacturing, delivery schedules, and sales of various goods. Furthermore, several companies have already announced possible delays in product deliveries and a drop in future product sales.

Recent Development

• Electrolux is expanding its kitchen products in collaboration with Google by incorporating Google Assistant, which allows users to control toaster using voice commands.
• Furthermore, in 2019, BSH Hausgeräte GmbH acquired nearly 65 percent of the global food platform Kitchen Stories, transforming it into an integrated software, hardware, and service provider.
• Samsung will launch Smart Induction in Built-in Cooktop with Wi-Fi in August 2021, which will help to cook meals faster while reducing energy and emissions.

Global Toaster Market Scope

The toaster market is segmented on the basis of product, type, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Pop-Up Toasters
• Toaster Ovens
• Conveyor Toasters

Application

• Commercial
• Residential

Type       

• 2 slice toaster
• 4 slice toaster
• Other

Distribution channel

• Online
• Offline

Toaster Market Regional Analysis/Insights

The toaster market is analysed and market size insights and trends are provided by country, product, type, application and distribution channel as referenced above.

The countries covered in the toaster market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has a sizable market share and is expected to grow rapidly in the coming years. Consumer purchasing power is expected to increase the growth of the North American market in the coming years. Similarly, Asia Pacific is expected to grow rapidly over the forecast period. Rising demand from emerging economies, driven by rising disposable income and improved lifestyles, is expected to provide market participants with potential growth opportunities in the coming years. Due to these factors, this region is expected to experience rapid growth in the near future.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Toaster Market Share Analysis

The toaster market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to toaster market.

Some of the major players operating in the toaster market are:

• Friedr. Dick GmbH & Co (Germany)
• GLOBAL APPLIANCES USA (U.S.)
• KAI USA LTD (U.S.)
• Kiya corp. (Japan)
• MAC Knife (U.S.)
• Messermeister (Germany)
• Victorinox AG (Switzerland)
• Anker Innovation Technology Co., Ltd. (China)
• Samsung Electronics Co., Ltd (South Korea)
• Shenzhen Proscenic Technology Co. Ltd. (China)
• Neato Robotics, Inc. (U.S.)
• Cecotec Innovaciones S.L. (Spain)
• LG Electronics Inc (South Korea)
• Dyson Limited (U.K.)
• Panasonic Corporation (Japan)
• Sharp Corporation (U.S.)