Increasing awareness of energy efficient kitchen appliances and rising demand from cafes and restaurants are the leading factors driving the global Toaster Market during the forecasted period.
According to TechSci Research report, “Toaster Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,A toaster is an electronic kitchen appliance that is used to cook and grill waffles, muffins, and bread slices by using radiant heat. Leading fast food chains and quick service restaurants are the prominent user of toasters for catering their clients for fast meals services and these are the certain leading factors boosting the market growth.
Based on product type, the market is divided into two types- Pop-Up and Conveyor. Pop-Up is a toaster with a feature that pushes bread slices up when the bread is toasted. The energy consumption of pop-up toasters is typically six times less than that of an electric oven. Unlike energy wastage in traditional ovens, the heat is concentrated in the meal in pop-up toasters which tends to reduce cooking time. In addition, customers can select the pop-up toaster’s settings and level of toasting, which is another significant advantage of these toasters.
A kitchen appliance called a conveyor toaster toasts tortillas, bagels, muffins, and other bread-like items. The conveyor belt moves the bread, so it doesn’t burn while the heating elements in the conveyor toaster provide heat on the top and bottom of the toast. Generally, the bread enters a feeder area after dropping down a slot at the back of the conveyor toaster when it reaches the end of the conveyor belt. At that point, the toast can be taken and consumed. The price of a conveyor toaster can range from relatively inexpensive consumer models to quite expensive commercial-grade models.
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The Toaster market is segmented based on product type, type, application, distribution channel, and region.
Based on product type, the market is further fragmented into pop-up toaster and conveyor toaster. The Pop-Up toaster will dominate the market on the account of ease of use and affordability.
On the basis of type, the Toaster market is divided into 2 slice toasters, 4 slice toaster and more than 4. Based on application, the market is segmented into residential, hospitality, food services, education, and others (healthcare, offices etc.). The residential segment will boost the toaster market, on account of increasing advancement of technology in household products. The hospitality sector will grow at a faster rate on account of the increasing number of café and restaurant.
Based on distribution channel, the market is divided into retail, online and non-retail. Furthermore, in terms of region, the market is divided into Asia-Pacific, North America, Europe, Middle East & Africa, and South America. Among the aforementioned regions, North America has been a significant market for toasters because of the traditional consumption pattern of bread products and prominence and growth of coffee shops that also provide a variety of baked bread-based products.
Key market players in the Toaster market include:
- Koninklijke Philips N.V.
- Morphy Richards Limited
- Stanley Black & Decker, Inc.
- Hamilton Beach Brands, Inc.
- Kenwood Limited
- Breville Pty Ltd
- Cuisinart Corporation
- Whirlpool Corporation (KitchenAid)
- Groupe SEB USA (Krups)
- APW Wyott Foodservice Equipment, Inc.
Product innovation is essential for companies to compete and capture the market. Appliances with smart features like touchscreen display that are also user-friendly and simple to operate, are in high demand. As more companies offer products that can be integrated with a user’s smartphone and other connected devices, smart toasters have become more prevalent in the market.
Companies are launching various products with advanced features to capture the market, globally. For instance, in 2021, Redmond, a European-based brand, launched full touch screen LED display stainless steel toaster. The new toaster consists of various features such as a two-slice toaster, LED display, six bread shade browning settings, and bagel/ reheat/ defrost/ cancel options. An easy-to-use LED touchscreen that shows a countdown clock is another feature of the stainless-steel toaster.
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“The technologically advanced toasters with a wide variety of features are a significant trend that will impact the growth of market over the projected period. The increasing spending power, rising awareness of energy efficient products, changing lifestyle, and increasing demand from commercial sector are the leading factors that will positively impact the global toaster market. Along with that, the wide range of products available to meet the specific needs of customers and the growing popularity of the e-commerce channel, will further boost the market growth during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Toaster Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Product Type (Pop-Up Toaster, Conveyor Toaster), By Type (2 Slice Toaster, 4 Slice Toaster, More than 4), By Application (Residential, Hospitality, Food Services, Education, Others (Healthcare, Offices etc.)), By Distribution Channel (Retail, Online, Non-Retail), By Region, Competition, has evaluated the future growth potential of Toaster Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the Global Toaster Market.
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