Global Toaster Market to Grow at 5.2% CAGR, Fueled by Modernization and Rising Home Decoration Trends

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21 Jul, 2023, 12:30 ET

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DUBLIN, July 21, 2023 /PRNewswire/ -- The "Toaster Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global toaster market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period.

People are focusing on modernization and the rising trends for home decoration which is the factor driving the growth of the global toaster market. People prefer to use kitchen appliances that match the interior of their kitchen due to which many companies started manufacturing more modern technology and aesthetic-looking toasters.

For instance, in May 2022, The Revolution R270 smart toaster has over 30 programmed toast settings to help you get the perfect toast.

The global toaster market is segmented based on product, type, and distribution channel. Based on the product, the market is segmented into pop-up toasters, toaster ovens, and conveyor toasters. Based on the type, the market is segmented into 2 slice toasters, 4 slice toasters, and others. B

Based on the application, the market is sub-segmented into commercial and residential. Based on the distribution channel, the market is sub-segmented into online and offline. Based on the product segment, conveyor toasters are expected to be the fastest-growing segment in the growth of the global toaster market. Conveyor toasters are easy to use and made the process faster and saves time and effort.

Many companies are launching conveyor toasters as they are durable, so the sale of conveyor toasters increases. For instance, British manufacturer, Dualit launched its new easy-to-use and quick-to-heat-up durable Incoloy elements, the 2-slice Incoloy Conveyor Toaster. Additionally, in 2018, The Vollrath Company, LLC launched a full line of high-quality, American-made conveyor toasters.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The European region is expected to hold a prominent market share in the global toaster market during the forecast period due to the high presence of young working people which increases the usage of a toaster on the daily basis. Working people want easy-to-use toasters that consume less time. The rising population of young working people made many companies manufacture toasters focusing on their needs and demand. For instance, Griffin Technology offers a Connected Toaster, and it boasts a Bluetooth radio and a smartphone app. It costs $100.

The major companies serving the global Toaster market include The Middleby Corp. (APW Wyott), Conair LLC, KitchenAid, Spectrum Brands Holdings, Inc., Groupe SEB USA, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, the Black + Decker toaster offers the ability to toast four slices at once, it has dedicated controls for each pair of slots.

The Report Covers

Key Topics Covered: 1. Report Summary

2. Market Overview and Insights2.1. Scope of the Report2.2. Analyst Insight & Current Market Trends2.2.1. Key Findings2.2.2. Recommendations2.2.3. Conclusion3. Competitive Landscape4. Market Segmentation5. Regional Analysis6. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/nq98jw

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