Toasters Market Report, Global, 2024

The toasters market size has grown strongly in recent years. It will grow from $3.59 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. During the historic period, growth can be ascribed to the expansion of electricity accessibility, the onset of industrialization, intensified advertising and marketing efforts, and a mounting demand for efficient kitchen appliances.

The toasters market size is expected to see rapid growth in the next few years. It will grow to $5.76 billion in 2028 at a compound annual growth rate (CAGR) of 10%. Looking forward to the forecast period, growth is expected due to the emergence of smart toasters equipped with connectivity features, the demand for swift and convenient breakfast solutions, and the ongoing trend of urbanization. Significant trends anticipated in this period encompass the integration of smart features, customization and personalization options, enhanced safety features, as well as increased partnerships and investments within the industry.

The toasters market is poised for growth, buoyed by the increasing consumption of bakery products. Bakery products encompass a diverse array of items crafted using wheat flour to yield various bakery-related creations. Continuously evolving to cater to shifting consumer preferences and tastes, the bakery industry offers convenience and healthier options by incorporating wholesome ingredients, natural flavors, and nutritional enhancements. Toasters stand out as versatile appliances capable of toasting a wide assortment of bakery products, including bread, rolls, bagels, English muffins, croissants, and pastries, ensuring efficient toasting with minimal time and effort. For instance, as reported by the American Bakers Association, sales of baking ingredients and supplies surged by 18.7% and 16.3%, respectively, in 2020. Moreover, stats from Euromonitor International, published on the Government of Canada's official website in October 2022, indicate that retail sales of baked goods in the US escalated to $67.9 billion in 2021 and are projected to reach $75.8 billion in 2026. Hence, the burgeoning consumption of bakery products is fueling the growth of the toasters market.

Key players in the toaster market are channeling their efforts into developing innovative cooking features or functionalities integrated into kitchen appliances to enhance cooking performance, efficiency, and convenience. Technological advancements aim to elevate the cooking experience, empowering users to effortlessly prepare delicious meals. For instance, in October 2022, Tineco, a China-based kitchen appliance company, introduced TOASTY ONE, a dual-slot toaster boasting smart capabilities. This product boasts a 4 LCD touchscreen, providing users with a visual interface for controlling the toasting process. Utilizing GoldenCrispy technology, it preserves moisture within the bread while achieving a golden crisp exterior, ensuring optimal texture for every slice. Additionally, the toaster is equipped with IntelliHeat Technology, which adjusts the heat output to achieve the desired level of toasting.

Furthermore, in January 2021, Weber-Stephen Products, LLC, a US-based grill and accessories company, acquired June for an undisclosed sum. This acquisition enabled Weber to gain access to June's software, technology, and product portfolio, with the aim of enhancing grilling experiences through digital products and services. June, a US-based company specializing in smart kitchen appliances such as toaster ovens, aligns with Weber's vision for innovation and advancement in the culinary space.

Major companies operating in the toasters market are Panasonic Corporation, Whirlpool Corporation, Stanley Black & Decker Inc., Groupe SEB SA, The Middleby Corporation, De'Longhi Group, Breville Group, Hamilton Beach Brands Inc., Braun GmbH, Chefman LLC, Conair Corporation, Sunbeam Products Inc., Russell Hobbs Inc., Continental Electric Company Inc., Proctor Silex Ltd., Morphy Richards Limited, Bodum USA Inc., StoreBound LLC, Sunbeam Corp, Sensio Inc., Brentwood Appliances Inc., Kenwood Limited, Dualit Ltd., Smeg S.p.A., West Bend, Lifetime Brands Inc., Salton Corp.

Asia-Pacific was the largest region in the toasters market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the toasters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the toasters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Toasters, essential kitchen appliances, are engineered to toast bakery items by subjecting them to radiant heat. They typically comprise heated metal wires, known as heating elements, situated within a slot or chamber. Bread or other items are placed inside these slots for toasting, where the heating elements generate the necessary heat to crisp and golden-brown the surfaces.

Toasters are categorized into several types, including pop-up toasters, toaster ovens, and conveyor toasters. Pop-up toasters are compact appliances designed to vertically toast bread slices. Equipped with slots for bread insertion, they automatically eject the toast when done. These toasters are distributed through diverse channels, both online and offline, catering to various end-users such as residential and commercial settings.

The toasters market research report is one of a series of new reports that provides toasters market statistics, including toasters industry global market size, regional shares, competitors with a toasters market share, detailed toasters market segments, market trends, and opportunities, and any further data you may need to thrive in the toasters industry. This toasters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The toaster market consists of sales of toaster grills, smart toasters, and 2-slice toasters. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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