Toasters Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 4.20 Billion |
| Market Size (2029) | USD 5.09 Billion |
| CAGR (2024 - 2029) | 3.91 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Toasters Market Analysis
The Toasters Market size is estimated at USD 4.20 billion in 2024, and is expected to reach USD 5.09 billion by 2029, growing at a CAGR of 3.91% during the forecast period (2024-2029).
A toasting device is used to toast bread, bagels, and other bread-related foods. Toasters are generally used for home and commercial applications such as restaurants and cafes. Toasters are available in the market in various types, such as pop-up toasters, standard oven toasters, air fryer toasters, and others. Users can make other dishes in toasters, such as pizza, besides toasting bread. The market is witnessing a technological integration of products for smart home applications. This factor, coupled with people's increasing income levels across the globe, is shifting the customer focus towards high-end home appliances such as toasters. The focus shift has also encouraged players in the market to introduce new and technologically advanced appliances.
An increase in the disposable income of individuals results in enhanced purchasing power, which is expected to boost the market's growth. The toasters market is likely to grow significantly due to rapid urbanization worldwide.
Toasters Market Trends
Growing Sales of Toasters through Online Distribution Channels
The surge in disposable income and shifting dietary preferences, exemplified by the growing inclination towards healthier breakfast choices, propels the demand for toasters. The increasing purchasing power of individuals stands out as a primary catalyst for market expansion. Bread is fundamental in breakfast menus worldwide, making toasters indispensable for conveniently preparing delicious meals, including perfectly toasted slices. Such factors play a pivotal role in sustaining high product demand. As consumers prioritize health, they seek toasters capable of accommodating gluten-free, whole-grain, and low-fat bread varieties. In response, manufacturers are introducing toasters with innovative features tailored to meet diverse bread preferences. To meet customer requirements, manufacturers offer toasters with wide range of functionalities. Additionally, the demand for intelligent toasters is rising, led by proliferation of smart homes. Customers are turning to e-commerce platforms and marketplaces like Amazon to purchase these toasters, attracted by competitive pricing and the extensive product range available for comparison.
Asia Pacific Leading the Regional Market
Aisa Pacific has witnessed high tourism from across the world. Countries such as China, India, Indonesia, Japan, and South Korea are prominent tourism destinations. Toasted bread and butter are among tourists' leading breakfast and meal preferences. This factor increases the demand for toasters and other appliances used in hotels and restaurants. Asia Pacific regions have also witnessed growing disposable income that gives rise to demand for home and kitchen appliances. Urbanization and product development will drive growth in the forecast year. Government initiatives to increase awareness of energy consumption and rising energy prices will also drive demand for energy-efficient and eco-friendly toasters.
Toasters Industry Overview
The report covers the major players operating in the toasters market. The market is consolidated, with many players present across the market. Few significant players currently dominate the toasters market. The report shows technology adoption in the sector, initiatives the companies took toward changes in product specifications, and many other factors that can drive the market during the forecast period. A few major players in the market include Breville, Morphy Richards, Hamilton Beach, Black+Decker, and Cuisinart, among others.
Toasters Market Leaders
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Breville
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Morphy Richards
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Hamilton Beach
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Black+Decker
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Cuisinart
*Disclaimer: Major Players sorted in no particular order
Toasters Market News
- In November 2023, Morphy Richards announced a brand enhancement to support medium- and long-term business growth. This brand upgrade was in collaboration with the globally recognized strategic consulting firm Prophet, which will help the company's customers gain more value from Morphy Richard's products.
- In September 2023, Samsung showcased its latest innovative and connected appliances, SmartThings, and the company’s expansive and fully integrated home ecosystem at the leading industrial conference, IFA 2023. This type of product development helps the company to capture more market share.
Toasters 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 Rise of Smart Kitchen is Driving the Market
4.2.2 Growing Urbanisation is Driving Need for Quick Meal Preparation
4.3 Market Restraints
4.3.1 Changing Needs and Taste of Customers
4.3.2 Limited Usage of the Product
4.4 Market Opportunities
4.4.1 Adoption of Energy-Efficient Appliances
4.4.2 Technological Integration for Smart Home Application
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.
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Pop-Up Toasters
5.1.2 Standard Toaster Ovens
5.1.3 Convection/Air Fryer Toaster Ovens
5.1.4 Sandwich Toasters
5.2 By Distribution Channel
5.2.1 Multi-Brand Stores
5.2.2 Exclusive Brand Outlets
5.2.3 Online
5.3 By Region
5.3.1 North America
5.3.1.1 US
5.3.1.1.1 Canada
5.3.1.2 Mexico
5.3.2 Aisa Pacific
5.3.2.1 China
5.3.2.2 Japan
5.3.2.3 Indonesia
5.3.2.4 Australia
5.3.2.5 India
5.3.2.6 South Korea
5.3.2.7 Rest of Asia Pacific
5.3.3 Europe
5.3.3.1 UK
5.3.3.2 Germany
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 De Longhi
6.2.2 Black+Decker
6.2.3 Breville
6.2.4 Cuisinart
6.2.5 Hamilton Beach Brands
6.2.6 KitchenAid
6.2.7 Panasonic Corporation
6.2.8 Samsung Electronics
6.2.9 Toastmaster
6.2.10 West Bend
6.2.11 Morphy Richards
6.2.12 Smeg
6.2.13 Krups USA*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Toasters Industry Segmentation
A toasting machine is an appliance used to toast bread, bagels and other foods which are related to bread. Toasters are generally used for home and commercial use, such as restaurants or cafés.The toasters market is segmented by product, by distribution channel, and by geography. By product, the market is further segmented into pop-up toasters, standard toaster ovens, convection/air fryer toaster ovens, and sandwich toasters. By distribution channel, the market is further segmented into multi-brand stores, exclusive brand outlets, and online. By geography, the market is further segmented into North America, Asia Pacific, Europe, South America, and Middle East and Africa. The Report offers market size and forecasts in Value (USD) for all the Above Segments.
| By Product Type | |
| Pop-Up Toasters | |
| Standard Toaster Ovens | |
| Convection/Air Fryer Toaster Ovens | |
| Sandwich Toasters |
| By Distribution Channel | |
| Multi-Brand Stores | |
| Exclusive Brand Outlets | |
| Online |
| By Region | |||||||||
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Toasters Market Research FAQs
How big is the Toasters Market?
The Toasters Market size is expected to reach USD 4.20 billion in 2024 and grow at a CAGR of 3.91% to reach USD 5.09 billion by 2029.
What is the current Toasters Market size?
In 2024, the Toasters Market size is expected to reach USD 4.20 billion.
Who are the key players in Toasters Market?
Breville, Morphy Richards, Hamilton Beach, Black+Decker and Cuisinart are the major companies operating in the Toasters Market.
Which is the fastest growing region in Toasters Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Toasters Market?
In 2024, the Asia Pacific accounts for the largest market share in Toasters Market.
What years does this Toasters Market cover, and what was the market size in 2023?
In 2023, the Toasters Market size was estimated at USD 4.04 billion. The report covers the Toasters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Toasters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Toasters Industry Report
Statistics for the 2024 Toasters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Toasters 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.
Toasters Market Report Snapshots
