Toaster Market to be Dominated by Pop-Up Segment During the Forecast Period
Increasing
awareness of energy efficient kitchen appliances and rising demand from cafes
and restaurants are the leading factors driving the global Toaster Market
during the forecasted period.
According to TechSci Research report, “Toaster Market – Global Industry
Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,A toaster is an electronic kitchen appliance
that is used to cook and grill waffles, muffins, and bread slices by using
radiant heat. Leading fast food chains and quick service restaurants are the
prominent user of toasters for catering their clients for fast meals services and
these are the certain leading factors boosting the market growth.
Based
on product type, the market is divided into two types- Pop-Up and Conveyor.
Pop-Up is a toaster with a feature that pushes bread slices up when the
bread is toasted. The energy consumption of pop-up toasters is typically six
times less than that of an electric oven. Unlike energy wastage in
traditional ovens, the heat is concentrated in the meal in pop-up toasters
which tends to reduce cooking time. In addition, customers can select the
pop-up toaster's settings and level of toasting, which is another significant
advantage of these toasters.
A
kitchen appliance called a conveyor toaster toasts tortillas,
bagels, muffins, and other bread-like items. The conveyor belt moves the
bread, so it doesn't burn while the heating elements in the conveyor toaster
provide heat on the top and bottom of the toast. Generally, the bread enters a
feeder area after dropping down a slot at the back of the conveyor toaster when
it reaches the end of the conveyor belt. At that point, the toast can be taken
and consumed. The price of a conveyor toaster can range from relatively
inexpensive consumer models to quite expensive commercial-grade models.
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The Toaster market is segmented based on product type,
type, application, distribution channel, and region.
Based on product type, the market is further
fragmented into pop-up toaster and conveyor toaster. The Pop-Up toaster will
dominate the market on the account of ease of use and affordability.
On the basis of type, the Toaster market is divided
into 2 slice toasters, 4 slice toaster and more than 4. Based on application,
the market is segmented into residential, hospitality, food services,
education, and others (healthcare, offices etc.). The residential segment will boost
the toaster market, on account of increasing advancement of technology in
household products. The hospitality sector will grow at a faster rate on account
of the increasing number of café and restaurant.
Based on distribution channel, the market is
divided into retail, online and non-retail. Furthermore, in terms of region,
the market is divided into Asia-Pacific, North America, Europe, Middle East
& Africa, and South America. Among the aforementioned regions, North
America has been a significant market for toasters because of the traditional
consumption pattern of bread products and prominence and growth of coffee shops
that also provide a variety of baked bread-based products.
Key market players in the Toaster market include:
- Koninklijke
Philips N.V.
- Morphy
Richards Limited
- Stanley
Black & Decker, Inc.
- Hamilton
Beach Brands, Inc.
- Kenwood
Limited
- Breville
Pty Ltd
- Cuisinart
Corporation
- Whirlpool
Corporation (KitchenAid)
- Groupe
SEB USA (Krups)
- APW
Wyott Foodservice Equipment, Inc.
Product
innovation is essential for companies to compete and capture the market.
Appliances with smart features like touchscreen display that are also
user-friendly and simple to operate, are in high demand. As more companies
offer products that can be integrated with a user's smartphone and other
connected devices, smart toasters have become more prevalent in the market.
Companies are launching various products with
advanced features to capture the market, globally. For instance, in 2021,
Redmond, a
European-based brand, launched full touch screen LED display stainless steel
toaster. The new toaster consists of various features such as a two-slice
toaster, LED display, six bread shade browning settings, and bagel/ reheat/
defrost/ cancel options. An
easy-to-use LED touchscreen that shows a countdown clock is another feature of
the stainless-steel toaster.
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"The
technologically advanced toasters with a wide variety of features are a
significant trend that will impact the growth of market over the projected
period. The increasing spending power, rising awareness of energy efficient
products, changing lifestyle, and increasing demand from commercial sector are
the leading factors that will positively impact the global toaster market. Along
with that, the wide range of products available to meet the specific needs of
customers and the growing popularity of the e-commerce channel, will further boost
the market growth during the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
Toaster Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Product Type
(Pop-Up Toaster, Conveyor Toaster), By Type (2 Slice Toaster, 4 Slice Toaster,
More than 4), By Application (Residential, Hospitality, Food Services,
Education, Others (Healthcare, Offices etc.)), By Distribution Channel (Retail,
Online, Non-Retail), By Region, Competition, has evaluated the future growth potential of Toaster
Market and provides statistics and information on market structure, size, share,
and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the Global Toaster
Market.
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