The global toaster market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period. Toasters are the most common kitchen appliance used to cook bread. People usually prefer to have breakfast that gets ready quickly and does not take much of the morning time due to which people consume bread, toast, sandwich, and other bread items which increases the consumption of toasters daily which led to the growth of the global toaster market. For instance, in May 2022, Faber launched a pop-up toaster. Faber Pop-up Toaster comes with 2 slices for reheat/defrost/cancel setting and a red indicator. It has Adjustable Browning control with 7 settings. Increasing demand from quick service restaurants is projected to create significant scope for the market growth during the forecasted period.
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Impact of COVID-19 Pandemic on Global Toaster Market
During COVID-19 there was a complete shutdown due to government strict rules and regulations to stop the spread of the virus due to which the supply of non-essential products was closed, and the manufacturing of toasters was decreased which led to the lack of availability of toasters, impacted negatively on the growth of the global toaster market.
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Segmental Outlook
The global toaster market is segmented based on product, type, and distribution channel. Based on the product, the market is segmented into pop-up toasters, toaster ovens, and conveyor toasters. Among these, pop-up toasters held the largest market share in 2021. Pop-up toasters are the most preferred type among consumers due to less consumption of energy. Based on the type, the market is segmented into 2 slice toasters, 4 slice toasters, and others. Based on the application, the market is sub-segmented into commercial and residential. Based on the distribution channel, the market is sub-segmented into online and offline.
The Asia-Pacific Region is Expected to Hold a Prominent Share in the Global Toaster Market
The Asia-Pacific region is expected to hold a prominent share in the growth of the global toaster market during the forecast period due to the high consumption of kitchen appliances in countries like India and China. Additionally, the presence of key players in this region is driving the growth of the global toaster market. Many key players are innovating their products to attract customers. For instance, in May 2019, Philips launched the Philips HD6975/00 oven toaster griller. The Philips HD6975/00 OTG is available in India for a price of Rs 8,095.
By Product (Pop-Up Toasters, Toaster Ovens, Conveyor Toasters),
By Type (2 Slice Toasters, 4 Slice Toasters, Others), Application (Commercial, Residential),by Distribution Channel (Online and Offline)
Market Players Outlook
The major companies serving the global toaster market include The Middleby Corp. (APW Wyott), Conair LLC, KitchenAid, Spectrum Brands Holdings, Inc., Groupe SEB USA, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2019, Gourmia launched Toaster Oven Air Fryers featuring different sizes, designs, and feature sets. They come with price points from $49 to $199 and are available at retailers nationwide.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global toaster market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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