Toasters Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Toasters Market Report is Segmented by Product (Pop-Up Toasters, Standard Toaster Ovens, Convection/Air Fryer Toaster Ovens, and Sandwich Toasters), by Distribution Channel (Multi-Brand Stores, Exclusive Brand Outlets, and Online), and by Geography (North America, Asia Pacific, Europe, South America, Middle East and Africa). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Toasters Market Size

Toasters Market Summary
Study Period 2020-2029
Market Size (2024) USD 4.20 Billion
Market Size (2029) USD 5.09 Billion
CAGR (2024 - 2029) 3.91 %
Fastest Growing Market North America
Largest Market Asia Pacific

Major Players

Toasters Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Toasters Market Analysis

The Toasters Market size is estimated at USD 4.20 billion in 2024, and is expected to reach USD 5.09 billion by 2029, growing at a CAGR of 3.91% during the forecast period (2024-2029).

A toasting device is used to toast bread, bagels, and other bread-related foods. Toasters are generally used for home and commercial applications such as restaurants and cafes. Toasters are available in the market in various types, such as pop-up toasters, standard oven toasters, air fryer toasters, and others. Users can make other dishes in toasters, such as pizza, besides toasting bread. The market is witnessing a technological integration of products for smart home applications. This factor, coupled with people's increasing income levels across the globe, is shifting the customer focus towards high-end home appliances such as toasters. The focus shift has also encouraged players in the market to introduce new and technologically advanced appliances. 

An increase in the disposable income of individuals results in enhanced purchasing power, which is expected to boost the market's growth. The toasters market is likely to grow significantly due to rapid urbanization worldwide.

Toasters Market Trends

Growing Sales of Toasters through Online Distribution Channels

The surge in disposable income and shifting dietary preferences, exemplified by the growing inclination towards healthier breakfast choices, propels the demand for toasters. The increasing purchasing power of individuals stands out as a primary catalyst for market expansion. Bread is fundamental in breakfast menus worldwide, making toasters indispensable for conveniently preparing delicious meals, including perfectly toasted slices. Such factors play a pivotal role in sustaining high product demand. As consumers prioritize health, they seek toasters capable of accommodating gluten-free, whole-grain, and low-fat bread varieties. In response, manufacturers are introducing toasters with innovative features tailored to meet diverse bread preferences. To meet customer requirements, manufacturers offer toasters with wide range of functionalities. Additionally, the demand for intelligent toasters is rising, led by proliferation of smart homes. Customers are turning to e-commerce platforms and marketplaces like Amazon to purchase these toasters, attracted by competitive pricing and the extensive product range available for comparison.

Toasters Market: Internet User Penetration, In %, Global, 2018-2022

Asia Pacific Leading the Regional Market

Aisa Pacific has witnessed high tourism from across the world. Countries such as China, India, Indonesia, Japan, and South Korea are prominent tourism destinations. Toasted bread and butter are among tourists' leading breakfast and meal preferences. This factor increases the demand for toasters and other appliances used in hotels and restaurants. Asia Pacific regions have also witnessed growing disposable income that gives rise to demand for home and kitchen appliances. Urbanization and product development will drive growth in the forecast year. Government initiatives to increase awareness of energy consumption and rising energy prices will also drive demand for energy-efficient and eco-friendly toasters.

Toasters Market, Market CAGR (%), By Region, Global, 2023

Toasters Industry Overview

The report covers the major players operating in the toasters market. The market is consolidated, with many players present across the market. Few significant players currently dominate the toasters market. The report shows technology adoption in the sector, initiatives the companies took toward changes in product specifications, and many other factors that can drive the market during the forecast period. A few major players in the market include Breville, Morphy Richards, Hamilton Beach, Black+Decker, and Cuisinart, among others.

Toasters Market Leaders

  1. Breville

  2. Morphy Richards

  3. Hamilton Beach

  4. Black+Decker

  5. Cuisinart

*Disclaimer: Major Players sorted in no particular order

Toasters Market Concentration
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Toasters Market News

  • In November 2023, Morphy Richards announced a brand enhancement to support medium- and long-term business growth. This brand upgrade was in collaboration with the globally recognized strategic consulting firm Prophet, which will help the company's customers gain more value from Morphy Richard's products.
  • In September 2023, Samsung showcased its latest innovative and connected appliances, SmartThings, and the company’s expansive and fully integrated home ecosystem at the leading industrial conference, IFA 2023. This type of product development helps the company to capture more market share.

Toasters Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS AND INSIGHTS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rise of Smart Kitchen is Driving the Market
    • 4.2.2 Growing Urbanisation is Driving Need for Quick Meal Preparation
  • 4.3 Market Restraints
    • 4.3.1 Changing Needs and Taste of Customers
    • 4.3.2 Limited Usage of the Product
  • 4.4 Market Opportunities
    • 4.4.1 Adoption of Energy-Efficient Appliances
    • 4.4.2 Technological Integration for Smart Home Application
  • 4.5 Industry Value Chain Analysis
  • 4.6 Industry Attractiveness - Porters' Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitutes
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Insights on technology Innovation in the Market.
  • 4.8 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Product Type
    • 5.1.1 Pop-Up Toasters
    • 5.1.2 Standard Toaster Ovens
    • 5.1.3 Convection/Air Fryer Toaster Ovens
    • 5.1.4 Sandwich Toasters
  • 5.2 By Distribution Channel
    • 5.2.1 Multi-Brand Stores
    • 5.2.2 Exclusive Brand Outlets
    • 5.2.3 Online
  • 5.3 By Region
    • 5.3.1 North America
    • 5.3.1.1 US
    • 5.3.1.1.1 Canada
    • 5.3.1.2 Mexico
    • 5.3.2 Aisa Pacific
    • 5.3.2.1 China
    • 5.3.2.2 Japan
    • 5.3.2.3 Indonesia
    • 5.3.2.4 Australia
    • 5.3.2.5 India
    • 5.3.2.6 South Korea
    • 5.3.2.7 Rest of Asia Pacific
    • 5.3.3 Europe
    • 5.3.3.1 UK
    • 5.3.3.2 Germany
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Spain
    • 5.3.3.6 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Rest of South America
    • 5.3.5 Middle East & Africa
    • 5.3.5.1 United Arab Emirates
    • 5.3.5.2 Rest of Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concetration Overview
  • 6.2 Company Profiles
    • 6.2.1 De Longhi
    • 6.2.2 Black+Decker
    • 6.2.3 Breville
    • 6.2.4 Cuisinart
    • 6.2.5 Hamilton Beach Brands
    • 6.2.6 KitchenAid
    • 6.2.7 Panasonic Corporation
    • 6.2.8 Samsung Electronics
    • 6.2.9 Toastmaster
    • 6.2.10 West Bend
    • 6.2.11 Morphy Richards
    • 6.2.12 Smeg
    • 6.2.13 Krups USA*
  • *List Not Exhaustive

7. MARKET OPPORTUNTIES AND FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

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Toasters Industry Segmentation

A toasting machine is an appliance used to toast bread, bagels and other foods which are related to bread. Toasters are generally used for home and commercial use, such as restaurants or cafés.The toasters market is segmented by product, by distribution channel, and by geography. By product, the market is further segmented into pop-up toasters, standard toaster ovens, convection/air fryer toaster ovens, and sandwich toasters. By distribution channel, the market is further segmented into multi-brand stores, exclusive brand outlets, and online. By geography, the market is further segmented into North America, Asia Pacific, Europe, South America, and Middle East and Africa. The Report offers market size and forecasts in Value (USD) for all the Above Segments.

By Product Type Pop-Up Toasters
Standard Toaster Ovens
Convection/Air Fryer Toaster Ovens
Sandwich Toasters
By Distribution Channel Multi-Brand Stores
Exclusive Brand Outlets
Online
By Region North America US Canada
By Region North America Mexico
By Region Aisa Pacific China
Japan
Indonesia
Australia
India
South Korea
Rest of Asia Pacific
By Region Europe UK
Germany
France
Italy
Spain
Rest of Europe
By Region South America Brazil
Rest of South America
By Region Middle East & Africa United Arab Emirates
Rest of Middle East & Africa
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Toasters Market Research FAQs

The Toasters Market size is expected to reach USD 4.20 billion in 2024 and grow at a CAGR of 3.91% to reach USD 5.09 billion by 2029.

In 2024, the Toasters Market size is expected to reach USD 4.20 billion.

Breville, Morphy Richards, Hamilton Beach, Black+Decker and Cuisinart are the major companies operating in the Toasters Market.

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Toasters Market.

In 2023, the Toasters Market size was estimated at USD 4.04 billion. The report covers the Toasters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Toasters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Toasters Industry Report

Statistics for the 2024 Toasters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Toasters analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Toasters Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)