Residential Toaster Ovens Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 628.88 Million |
| Market Size (2029) | USD 862.83 Million |
| CAGR (2024 - 2029) | 6.52 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Residential Toaster Ovens Market Analysis
The Residential Toaster Ovens Market size is estimated at USD 628.88 million in 2024, and is expected to reach USD 862.83 million by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).
The increased demand for home appliances that help cook food quickly and conveniently is due to the growing number of working professionals and busy lifestyles. Vendors are trying to bring demand for time-efficient products among employed consumers. There is a high demand for residential toaster ovens because they come with multiple options, like intelligent connectivity and accessible cleaning features.
The primary factors that drive the residential toaster oven market are the rising number of fast food outlets and restaurants, coffee shops, quick service restaurants, and cafes, as well as the ease of fast cooking. As employment levels increase, disposable income increases, and the change in living standards increases the demand for residential toaster ovens because working women are growing and have less time to spend in the kitchen. They depend on restaurants, hotels, and bakeries for the meals.
Improper handling of toaster ovens can cause injuries to both children and adults. So manufacturers have made toasters with an automatic shut-off function, significantly reducing accidental risks for children by automatically shutting down according to the programmed timer setting. Also, manufacturers have made residential toaster ovens with fireproof wiring to enhance safety; thus, these features boost the market.
Residential Toaster Ovens Market Trends
Increasing Online Sales Driving The Market
The struggle among store-based retail shops and the time customers spend in the shops increased the demand for online shopping. Consumers favor online channels over conventional in-store purchases because it is an easy financing option, and also, a lot of discounts can be availed by consumers from online platforms like Flipkart and Amazon. For all consumers, online channels have become an important way to purchase items. Through online channels, consumers can explore various products, compare prices, and take less time to select. Thus, rising sales in online channels drive the residential toaster ovens market.
North America Dominates The Market
North America contributes to a significant share of the global market. Increased demand for residential toasters is driven by increasing working population. The working population demands appliances in which food can be prepared quickly and also it has less cleaning and maintenance compared to the traditional gas ovens. Consumer awareness regarding the benefits of residential toaster ovens is higher in North America than in other regions. For example, brands like Hamilton Beach have residential toaster ovens that are technologically advanced and have improved aesthetic features such as color, design, and shape. Thus, these features increase the demand for residential toaster ovens market in North America.
Residential Toaster Ovens Industry Overview
The residential toaster ovens market is fragmented. Residential toaster oven manufacturers focus on developing customized and innovative products to increase revenue from a specific product category. They are also investing in online marketing campaigns to drive sales through digital platforms. Companies also focus on energy-efficient appliances to provide solutions for energy savings. The major players are AB Electrolux, Bajaj Electricals Ltd, Brentwood Appliance Inc., Breville Pty Ltd, and De Longhi SpA.
Residential Toaster Ovens Market Leaders
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AB Electrolux
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Brentwood Appliance Inc.
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Breville Pty Ltd
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De Longhi SpA
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Bajaj Electricals Ltd
*Disclaimer: Major Players sorted in no particular order
Residential Toaster Ovens Market News
- July 2023 - Dualit Limited launched a new DCT'T' 2-slice conveyor toaster with thermostatically controlled elements, which reduces power consumption by up to 20%.
- December 2022 - Glanz Americas, a global producer of home appliances, partnered with Kenmore, a popular American brand of household appliances, to expand the product range by introducing innovative kitchen appliances.
Residential Toaster Ovens Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Commercial Infrastructural Facilities Drives the Market
4.2.2 Changing Lifestyles Drives the Market
4.3 Market Restraints
4.3.1 High Cost of Repair and Maintenance
4.3.2 Large Space Consumption
4.4 Market Opportunities
4.4.1 Technological Advancement in Residential Toaster Ovens
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market
4.7.1 The Integration Of Internet Of Things (IoT) Capabilities
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Pop-Up
5.1.2 Ovens
5.1.3 Conveyor
5.2 By Distribution Channel
5.2.1 Direct
5.2.2 Hypermarkets
5.2.3 Specialty Stores
5.2.4 Online Retail
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Asia-Pacific Region
5.3.2.1 India
5.3.2.2 China
5.3.2.3 Japan
5.3.2.4 Australia
5.3.2.5 Rest of APAC
5.3.3 South America
5.3.3.1 Brazil
5.3.3.2 Argentina
5.3.3.3 Rest of South America
5.3.4 Europe
5.3.4.1 UK
5.3.4.2 Germany
5.3.4.3 Italy
5.3.4.4 Rest of Europe
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 UAE
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 AB Electrolux
6.2.2 Bajaj Electricals Ltd.
6.2.3 Brentwood Appliance Inc.
6.2.4 Breville Pty Ltd
6.2.5 De Longhi S.p.A.
6.2.6 Haier Smart Home Co. Ltd.
6.2.7 Hamilton Beach Brands Holding Co.
6.2.8 Havells India Ltd.
6.2.9 Koninklijke Philips NV
6.2.10 Midea Group Co. Ltd.*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Residential Toaster Ovens Industry Segmentation
Residential toaster ovens are small electrical appliances used to brown sliced bread by exposing it to radian heat and converting it into toast. The residential toaster ovens market is segmented into product type, distribution channel, and geography. The market is segmented by products: pop-ups, ovens, and conveyors. The market is segmented by distribution channel into direct, hypermarkets, specialty stores, and online retail. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report offers market size and forecasts for the global residential toaster ovens market in value (USD) for all the above segments.
| By Product Type | |
| Pop-Up | |
| Ovens | |
| Conveyor |
| By Distribution Channel | |
| Direct | |
| Hypermarkets | |
| Specialty Stores | |
| Online Retail |
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Residential Toaster Ovens Market Research FAQs
How big is the Residential Toaster Ovens Market?
The Residential Toaster Ovens Market size is expected to reach USD 628.88 million in 2024 and grow at a CAGR of 6.52% to reach USD 862.83 million by 2029.
What is the current Residential Toaster Ovens Market size?
In 2024, the Residential Toaster Ovens Market size is expected to reach USD 628.88 million.
Who are the key players in Residential Toaster Ovens Market?
AB Electrolux, Brentwood Appliance Inc., Breville Pty Ltd, De Longhi SpA and Bajaj Electricals Ltd are the major companies operating in the Residential Toaster Ovens Market.
Which is the fastest growing region in Residential Toaster Ovens Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Residential Toaster Ovens Market?
In 2024, the North America accounts for the largest market share in Residential Toaster Ovens Market.
What years does this Residential Toaster Ovens Market cover, and what was the market size in 2023?
In 2023, the Residential Toaster Ovens Market size was estimated at USD 587.88 million. The report covers the Residential Toaster Ovens Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Residential Toaster Ovens Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Residential Toaster Ovens Industry Report
Statistics for the 2024 Residential Toaster Ovens market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Residential Toaster Ovens analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
