"We Envision Growth Strategies Most Suited
to Your Business"
The global toaster market size is expected to reach USD 4.72 billion by 2027. The growing knowledge about energy-efficient home appliances among consumers will significantly bolster the healthy growth of the market, mentioned in a report, titled “Toaster Market Size, Share & COVID-19 Impact Analysis, By Product (Pop-up, Oven, and Conveyor), Application (Residential and Commercial), Distribution Channel (Online and Offline), and Regional Forecast, 2020-2027.” The market size stood at USD 3.83 billion in 2019 and is expected to exhibit a CAGR of 4.2% between 2020 to 2027.
Launch of Air Fryer Toaster Oven by Cosori to Augment Growth
Cosori, a leader in modern kitchen appliances announced its first Air Fryer Toaster Oven. The oven is crafted and built for a user-friendly experience. It is a combination of multiple kitchen appliances cooking, baking, and even dehydrating and rotisserie needs. The versatile Air Fryer Toaster Oven comes with 12 original presets including Bake, Air Fry, Dehydrate, Ferment, and Warm. Moreover, the new oven is equipped with cooking times, temperature ranges, and recommended accessories. Besides, its large capacity involves three racks that can be used at the same time, fitting up to 6 slices of toast, a 13-inch pizza, or even an entire 5-pound chicken. The modern LED display shows a digital timer and temperature while various icons and indicators give complete control. Additionally, the non-stick interior and crumb tray makes it perfect for cleaning. The launch of the new oven is expected to boost the growth of the market owing to its versatility and availability on online platforms.
To get a detailed report summary and research scope of this market, click here:
Introduction of Ground-breaking Products to Boost Business
The launch of trail-blazing and innovative electronic appliances for cooking needs will incite the development of the market. The inclination of consumers towards fully automated kitchen appliances will impel companies to introduce advanced products, which, in turn, will bode well for the market. For instance, in June 2020, Panasonic Corporation announced the launch of a multi-purpose (and user-friendly) 4 in 1 toaster ovens where users can use versatile functions such as air frying, baking, traditional microwaving, and broiling. However, the availability of substitute products such as cooking pans, and other toasting utensils can subsequently restrict the growth of the market in the forthcoming years.
Latest Innovations by Prominent Players to Consolidate Industry
The key companies are focused on innovating kitchen appliances to increase revenue streams and establish a strong foothold in the market. Moreover, the hefty investments by companies in various online marketing campaigns will further drive the market. Additionally, the increasing R&D for the development of energy-saving (energy efficiency) appliances solutions for users will steer competition among rival companies in the forthcoming years.
The Report Lists the Key Companies in the Toaster Market:
Further Report Findings:
The global Toaster Market is Segmented into:
Value (USD Billion)
By Product, Application, Distribution Channel, and Geography
By Distribution Channel