According to the latest report by IMARC Group, titled "Toaster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global toaster market exhibited moderate growth during 2015-2020. A toaster is an electrical appliance used for toasting bread, waffles, bagels, and muffins. They consist of heating coils, thin filaments, tray, lever, and thermostats and timers. Infrared radiation flows into the toaster through a wire connected to a domestic electrical supply. This power flow charges a series of thin filaments that are spaced appropriately to cover the entire product. Electric toasters are fast, energy efficient, compact in size, convenient to use and economical in nature. There are different types of toasters available in the market, including toaster ovens, and tin, horizontal and traditional bread toasters.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Toaster Market Trends:
The rising demand for electric kitchen appliances is primarily driving the global toaster market growth. Various product innovations, such as the development of smart toasters with Bluetooth connectivity, LED display screens, multiple crumb trays, alarms, and digital timers, are further propelling the market growth. Additionally, rapid urbanization, and increasing purchasing power of consumers, particularly in developing nations, are creating a positive outlook for the market. Other factors, including an expansion in the hospitality sector and the increasing use of common electrical kitchen appliances in commercial settings, are fueling the market growth. Looking forward, the market is expected to grow at a CAGR of around 4% during 2021-2026.
- Based on the product, the market has been divided into pop-up toasters, toaster ovens, and conveyor toasters.
- On the basis of the application, the market has been bifurcated into the commercial and residential segments.
- Based on the distribution channel, the market has been segregated into offline and online.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Breville USA Inc., Cuisinart, De’Longhi Appliances S.r.l., Dualit Limited, Hamilton Beach Brands Inc., Hatco Corporation, KitchenAid Inc (Whirlpool Corporation), Stanley Black & Decker Inc., Star Manufacturing International Inc (The Middleby Corporation), The Legacy Companies LLC and Waring Commercial.
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