Product ID: UCMIG25H2043
Report ID: UCMIG25H2043 | Region: Global | Published Date: Upcoming | Pages: 165 | Tables: 55 | Figures: 60
The global toaster market commenced with a valuation of USD 3.2 billion in 2018 and is predicted to sustain a steady compound annual growth rate (CAGR) of 4.8% throughout the forecast period. While households remain the primary end-users of this essential kitchen appliance, its expanding utilization within commercial environments such as coffee shops, hotels, cafes, diners, and restaurants is a pivotal driver of its growth trajectory. The thriving quick-service restaurant sector presents a substantial avenue for market players to capitalize on. Furthermore, the strengthening purchasing power of consumers on a global scale augments the potential for market expansion, fostering favorable conditions for sustained growth.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Household Appliances by segment aggregation, the contribution of the Household Appliances in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
The Toaster Market is segmented by Product, Application, Regional. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Toaster Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Toaster Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Toaster Market's supply chain, distribution, and total revenue growth.
To understand the competitive landscape, we are analyzing key Toaster Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Toaster Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
The Toaster Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
|The base year for estimation
|2016 – 2022
|2022 – 2028
|Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
|North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
|U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
|Key companies profiled
|Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
|Pricing and purchase options
|Reap the benefits of customized purchase options to fit your specific research requirements.
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Toaster Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Toaster Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Toaster Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Toaster Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
The global market for Toaster was estimated to be valued at US$ XX Mn in 2021.
The global Toaster Market is estimated to grow at a CAGR of XX% by 2028.
The global Toaster Market is segmented on the basis of Product, Application, Regional.
Based on region, the global Toaster Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key players operating in the global Toaster Market are rview , The global toaster market size was valued at USD 3.2 billion in 2018 and is estimated to register a CAGR of 4.8% over the forecast period. While households are the leading end-users of this kitchen appliance, its growing usage in commercial settings, such as coffee shops, hotels, cafes, diners, and restaurants, is a key growth factor. Moreover, a thriving quick-service restaurant industry provides immense opportunity for players. Strengthening the purchasing power of consumers across the globe will also benefit market growth. , In recent years, there has been an increased focus on energy efficiency. Regulations laid down by various governments, coupled with growing consciousness among consumers, have compelled manufacturers to devise energy-efficient appliances. Toasters are known to consume six times lesser energy than Conventional ovens. Companies are looking to improve this feature by making several upgrades and modifications. The Ecolectric Toaster by Morphy Richards is one of the first energy-efficient toasters in the world, with recycled materials used in the manufacturing of the appliance. Compared to other toasters in the market, this one reportedly uses 30% less energy. An innovative feature of this toaster is the auto-close lid, which retains heat within the appliance itself. This not only speeds the toasting process but also ends up using less energy. , Product innovation is key for players to stay ahead of their competition and expand their reach. Appliances that have technologically advanced features, while at the same time, are user friendly and easy to use, are in high demand. Smart toasters have made an appearance in the market and today, an increasing number of companies have been offering products that can be integrated into the user’s smartphone and other connected devices. Griffin Technology’s Connected Toaster, for instance, uses Bluetooth to connect to a smartphone app. The app tracks, stores, and recalls a user’s toasting preferences, ensuring the end product is as desired. , The number of slots in a toaster, and the width of each slot, is also important while making a choice, be it for home or commercial use. Cuisinart’s Touch to Toast Leverless toaster, for instance, has four slots that are 1.5 inches wide to accommodate a variety of foods, including bagels, sandwiches, pizza, and frozen pretzels. Other additional features that companies have been offering in toasters include digital timers and heat settings, LED display screens, multiple crumb trays, pushbuttons, sound alerts and alarms, and cancel functions. , Product Insights , Based on product, the market is segmented into pop-up, oven, and conveyor toasters. Pop-up toasters held the dominant share of 54.9% in 2018 and are the most preferred type among consumers. These appliances consume lesser energy as compared to toasting bread in the oven or stove, which are less efficient. Moreover, these toasters allow automatic heat adjustments and defrost options. Conveyor toasters, on the other hand, are anticipated to be the fastest growing segment in the market, registering a CAGR of close to 6.0% from 2019 to 2025. The product is in great demand at restaurants, hotels, and catering events because of its capacity to handle large volumes of food items. , Application Insights , On the basis of application, the residential segment held the dominant share in the toaster market in 2018, primarily fueled by surge in working population. With bread being a vital breakfast item for consumers across the globe, the convenience provided by toasters for a quick, easy, and delicious breakfast will continue to be a key factor keeping product demand high in the residential segment. Newer advanced appliances can also perform multiple tasks. For instance, other than toasting bread, toaster ovens can cook pizza, various chicken and fish dishes, and bake cookies and biscuits, too. Consumers are constantly looking for home appliances and kitchen equipment that are user friendly and highly efficient. This has driven manufacturers to introduce innovative, energy-efficient products that cater to evolving consumer demands. , The commercial segment is expected to register the highest CAGR of 6.1% from 2019 to 2025. The segment is strongly influenced by changing industry demand from generic toasters to customized appliances that can suit individual preferences in various application settings at food service establishments. The segment is characterized by introduction of toasters with improved features, ability to perform multiple tasks simultaneously, and toast large batches of bread at a time. Technological advancements for improved efficiency is a key factor driving the segment. Conveyor toasters are some of the most popular appliances used on a commercial scale, especially in catering businesses, buffets, and busy restaurants. , Regional Insights , In terms of value, Asia Pacific held the largest revenue share of over 40.0% in 2018. The market is driven by growing presence of leading quick service restaurants and fast food retailers that use toasters for quick meals. Bread is one of the quickest and most convenient breakfast meals and with increasing working population in the region, demand for toasters to make easy breakfast items will continue to be steady. Product demand and sales are also fueled by rising purchasing power of consumers, thanks to increasing disposable incomes. , North America is expected to register the highest CAGR of 6.1% over the forecast period, on account of greater adoption of advanced kitchen appliances in the food service industry as well as in homes across U.S. and Canada. Product demand is also driven by high demand for convenient options for breakfast meals from consumers, at home as well as cafes and diners. When it comes to commercial toasters, North America has been a prominent market owing to the strong presence and expansion of coffee shops that also serve a variety of baked bread-based items. Growing awareness about and demand for energy-efficient kitchen appliances among consumers in the region has compelled manufacturers to come up with innovative ideas and this is also a key factor that will continue driving the North America market. , Key Companies & Market Share Insights , The industry is highly competitive in nature with manufacturers concentrating on new product launches, marketing campaigns, and technological innovations to stay ahead. . With steady demand for toasters from developing markets like China, India, and Brazil, companies are looking to expand in these countries over the coming years. , There has been growing demand for advanced kitchen equipment that can perform various tasks and functions. This avoids the need for multiple equipment, saving cost as well as kitchen space. Keeping this in mind, For instance, Cuisinart introduced the AirFryer Toaster Oven and Digital AirFryer Toaster Oven, which is a full sized toaster with a built-in airfryer. This space-saving appliance does not have to be moved from cupboard to counter each time it has to be used and avoids messy and time-consuming cleanups. , KEY MARKET SEGMENTS, By Product, Pop-up Toasters , Toaster Oven , Conveyor Toasters , By Application, Commercial , Residential , By Regional, North America , The U.S. , Europe , Germany , The U.K. , Asia Pacific , China , India , Central & South America , Brazil , Middle East & Africa , South Africa , KEY MARKET PLAYERS, The APW Wyott , Hatco , Star Manufacturing International , Waring Commercial , Toastmaster".
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.