Toaster Market to Surge at 5.61% CAGR over 2023 to 2030; Galanz Americas Introduced a New Collection of Small Kitchen Appliances to Boost its Product Portfolio

The global toaster market size stood at USD 3.76 billion in 2022. The market value is slated to rise from USD 3.90 billion in 2023 to USD 5.71 billion by 2030 at a CAGR of 5.61% during 2023-2030. Fortune Business Insights™ presents this information in its 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, 2023-2030”.

The market is expected to ramp up due to the increasing consumer demand for premium kitchenware products. Moreover, the growing consumer need for energy-efficient home appliances has raised the demand for advanced devices that consume less electricity, favoring the growth of the market.

Closures of Cafes and Restaurants and Rise in E-Commerce Activities Had Mixed Impact on the Market 

A mixed impact of the COVID-19 pandemic was observed on the toaster market growth. The rise in e-commerce activities, particularly in the home appliance sector fueled the growth of the market to a great extent. However, government-imposed restrictions during the pandemic, especially the closures of cafes and restaurants for infection control purposes significantly impacted the market expansion.

Panasonic Participated in CES 2022 to Exhibit its Product Portfolio

Panasonic Corporation, a Japan-based consumer electronics company, took part in CES 2022 to showcase its latest technologies, partnerships, and a wide product portfolio.

Through the Panasonic CES 2022 Digital Experience, the company focused on six key areas of exploration. These included lifestyle technologies, smart mobility, healthy environments, food tech, sustainability, and immersive entertainment.

Growing Consumer Preference Toward Highly Automated Electronic Appliances and Product Innovations to Spur Market Growth

One of the key factors propelling the market expansion is the growing consumer preference toward multipurpose and highly automated electronic appliances in their daily kitchen cooking needs. As a result, companies are focusing extensively on creating innovative kitchen products to satisfy this heightened demand. This trend is expected to significantly facilitate the market growth.

However, high maintenance costs associated with the product could dent the growth of the industry.

Players Emphasize Product Innovations to Boost Revenue Growth

A constant focus on innovation drives companies to craft personalized kitchen appliances for revenue growth. Strategic investments in online marketing aim to propel electronic appliance sales in digital spaces. Concurrently, a dedication to developing energy-efficient home solutions solidifies their competitive standing in the market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/toaster-market-103851

List of Key Market Players Profiled:

• Panasonic Corporation (Japan)


• LG Electronics (South Korea)


• Samsung Electronics Co. Ltd. (South Korea)


• Gorenje (Slovenia)


• Haier Group Corporation (China)


• De’Longhi S.p.A. (Italy)


• Severin Elektrogerate GmbH (Germany)


• BSH Hausgeräte GmbH (Germany)


• HAEGER (U.S.)


• Walton Hi-Tech Industries Ltd. (India)

Key Industry Development

• June 2021 – Galanz Americas, a company that makes home appliances, introduced a new collection of small kitchen appliances. The company released a variety of kitchen gadgets and machines such as blenders, air fryers, coffee makers, and digital toaster ovens for cooking and food preparation.

Further Report Findings

• The Asia Pacific region is poised to secure the largest toaster market share. This is driven by the presence of prominent toaster manufacturers, including Haier Group Corporation, Samsung Electronics Inc., Panasonic Corporation, Hebei AOCNO Baking Machinery Co. Ltd., and others in countries such as India, Japan, and China, has stimulated the demand for toaster items in the region. The pop-up segment holds the largest market share of 64.71% which boosts the Chinese market.


• The Europe market is expected to expand at a substantial pace over the forecast period. The growth is driven by the shifting consumer trend toward healthy and better lifestyles.


• By product, the market is classified into oven, conveyor, and pop-up. The conveyor toaster segment held a dominating market share owing to the substantial demand for multi-slot toasters in settings such as quick-service restaurants and cafes.


• Based on application, the market is fragmented into residential and commercial segments. The residential segment is estimated to grow at a considerable rate due to the growing adoption of breakfast culture within households.

Table of Segmentation