Executive Summary:

The toaster market is expected to see significant growth over the coming years. Factors driving this growth include changing lifestyles, increasing disposable incomes, and the popularity of breakfast foods. Manufacturers are also innovating by introducing new products that offer a range of features and functionality.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The toaster market is expected to grow at a CAGR of 4.8% over the forecast period from 2021 to 2026.
• The global toaster market was valued at USD 3.32 billion in 2020 and is expected to reach USD 4.18 billion by 2026.
• Pop-up toasters are the most popular type of toaster, accounting for over 60% of the market share.
• The residential segment dominates the toaster market, accounting for over 80% of the total revenue share.

Market Drivers:

• Changing lifestyles: With more people working from home, the demand for convenient and easy-to-use appliances like toasters has increased.
• Increasing disposable incomes: As disposable incomes rise, consumers are looking to upgrade their appliances to newer and more advanced models.
• Popularity of breakfast foods: Breakfast foods like toast, bagels, and pastries are becoming more popular, driving demand for toasters.

Market Restraints:

• Limited functionality: While toasters are versatile appliances, they are limited in the types of foods they can prepare.
• Price sensitivity: Consumers are price-sensitive, and many are unwilling to pay a premium for advanced features.

Market Opportunities:

• Innovations in technology: Manufacturers are innovating by introducing new features and functionality, such as smart toasters that can be controlled using a mobile app.
• Growing demand for energy-efficient appliances: As consumers become more environmentally conscious, there is a growing demand for energy-efficient appliances.

Market Dynamics:

The toaster market is a dynamic and competitive industry that is driven by innovation and changing consumer preferences. Manufacturers are investing in research and development to introduce new products that cater to the evolving needs of consumers. They are also looking to expand their geographic footprint by entering new markets.

Regional Analysis:

The toaster market is dominated by North America, accounting for over 30% of the total revenue share. This is due to the popularity of breakfast foods and the high disposable incomes of consumers in the region. Europe and Asia Pacific are also significant markets, with increasing demand for toasters in these regions.

Competitive Landscape:

Leading Companies in the Toaster Market:

1. Breville Group Limited
2. Hamilton Beach Brands Holding Company
3. KitchenAid
4. Cuisinart (Conair Corporation)
5. Dualit Limited
6. De’Longhi Appliances S.r.l.
7. Proctor Silex
8. Oster (Newell Brands Inc.)
9. Smeg S.p.A.
10. Waring Commercial Products

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The toaster market can be segmented by product type, end-user, and distribution channel.

By product type:

• Pop-up toasters
• Toaster ovens

• Conveyor toasters
• Others

By end-user:

• Residential
• Commercial

By distribution channel:

• Offline
• Online

Category-wise Insights:

Pop-up toasters are the most popular type of toaster, accounting for over 60% of the market share. They are widely used in households for toasting bread, bagels, and pastries. Toaster ovens are also gaining popularity, particularly for their ability to prepare a range of foods beyond just toast. Conveyor toasters are used primarily in commercial settings, such as hotels, restaurants, and cafes.

Key Benefits for Industry Participants and Stakeholders:

• Manufacturers can benefit from the growing demand for toasters by introducing new and innovative products that cater to changing consumer preferences.
• Retailers can benefit from the growing market by offering a range of toasters to their customers and catering to their specific needs.
• Consumers can benefit from a wide range of toasters available in the market that cater to their specific requirements and budget.

SWOT Analysis:

Strengths:

• Growing demand for breakfast foods
• Increasing disposable incomes of consumers
• Advancements in technology and features

Weaknesses:

• Limited functionality of toasters
• Price sensitivity of consumers

Opportunities:

• Growing demand for energy-efficient appliances
• Expansion into new markets

Threats:

• Intense competition among players
• Fluctuating prices of raw materials

Market Key Trends:

• Increasing demand for energy-efficient appliances
• Introduction of smart toasters that can be controlled using mobile apps
• Growing popularity of toaster ovens for their versatility in preparing a range of foods

Covid-19 Impact:

The Covid-19 pandemic had a mixed impact on the toaster market. While the initial lockdowns and supply chain disruptions impacted the industry, the subsequent increase in people working from home and cooking at home led to a surge in demand for kitchen appliances, including toasters. The pandemic also led to an increased focus on hygiene, which has led to a growing demand for toaster ovens that offer easy-to-clean surfaces.

Key Industry Developments:

• In 2020, Breville Group Ltd. introduced a new smart toaster that can be controlled using a mobile app.
• In 2019, Groupe SEB launched a new range of toasters that offer a range of features, including defrost and bagel settings.
• In 2018, Hamilton Beach Brands, Inc. introduced a new toaster oven that offers convection baking and broiling.

Analyst Suggestions:

• Manufacturers should focus on introducing energy-efficient and eco-friendly toasters to cater to growing consumer demand.
• Retailers should offer a range of toasters that cater to specific consumer needs and preferences.
• Consumers should consider investing in toasters that offer advanced features and functionality, such as smart toasters and toaster ovens.

Future Outlook:

The toaster market is expected to see significant growth over the coming years, driven by changing lifestyles, increasing disposable incomes, and the growing popularity of breakfast foods. Manufacturers will continue to innovate by introducing new products that offer a range of features and functionality, including energy-efficient and smart toasters.

Conclusion:

The toaster market is a growing segment of the kitchen appliances industry, driven by changing consumer preferences and technological advancements. The industry is highly competitive, with several key players dominating the market. To succeed in the market, manufacturers and retailers must focus on introducing products that cater to changing consumer needs and preferences, and consumers should consider investing in toasters that offer advanced features and functionality. With the growing demand for energy-efficient and eco-friendly appliances, the future outlook for the toaster market is bright.

As the toaster market continues to evolve, manufacturers will need to keep up with the latest trends and consumer preferences. One of the key trends in the market is the growing demand for energy-efficient appliances. Consumers are becoming more environmentally conscious and are looking for appliances that offer energy-saving features. Another trend is the introduction of smart toasters that can be controlled using a mobile app. These toasters offer a range of features, such as customized toasting settings, remote control, and automatic shut-off. Toaster ovens are also gaining popularity, particularly for their versatility in preparing a range of foods beyond just toast. These ovens offer features like broiling, baking, and grilling, and can be used to prepare everything from pizza to roasted vegetables.