Toaster Market - By Product Type (Pop-up, Conveyor, Oven, Others), By Price Range (High, Medium, Low), By Application (Household, Commercial), By Distribution Channel (Online, Offline), Forecast 2024 – 2032

Toaster Market Size

Toaster Market size was valued at USD 4.79 billion in 2023 and is anticipated to register a CAGR of 4.3% from 2024 to 2032. Busy lifestyles and the increasing preference for convenience are driving the demand for small kitchen appliances that can simplify cooking processes. Toasters, being one of the most used appliances for breakfast, are often indicative of this trend.
 

As consumers seek to streamline their morning routines, they may also invest in other small kitchen appliances like coffee makers, electric kettles, and microwaves to complement their toaster, thereby boosting the overall market. Toasters offer a convenient way to prepare breakfast or snacks quickly, which aligns with the busy lifestyles of consumers. This convenience factor drives the demand for small kitchen appliances, including toasters.

Additionally, modern toasters come in various designs, colors, and finishes to match different kitchen aesthetics and décor preferences. The emphasis on kitchen aesthetics and the desire for cohesive kitchen interiors can prompt consumers to invest in other small kitchen appliances that complement the style of their toaster. This trend contributes to the overall growth of the small kitchen appliances market as consumers seek to create visually appealing and functional kitchen spaces.

The integration of smart technology in toasters, such as Wi-Fi connectivity and smartphone apps, enhances convenience and control for users. This trend reflects broader consumer preferences for connected homes and smart appliances. Consumers who appreciate the convenience and efficiency offered by smart toasters may be more inclined to explore other smart small kitchen appliances, leading to market expansion.

The toaster market is highly competitive with numerous players offering similar products, leading to price wars and margin pressures for manufacturers. There have been occasional concerns regarding the potential health risks associated with toasted food, such as the formation of acrylamide, a potentially carcinogenic substance, which could impact consumer perceptions and demand.

Additionally, the availability of alternative breakfast options or cooking appliances, such as toaster ovens, air fryers, or multifunctional kitchen gadgets, can pose a threat to standalone toaster sales. Consumers may opt for versatile appliances that offer more functionality and space-saving benefits. Increasing awareness of environmental issues may lead consumers to prioritize eco-friendly appliances over traditional ones. If toasters are perceived as energy-inefficient or environmentally harmful, it could dampen consumer demand and drive them towards more sustainable alternatives.

Toaster Market Trends

Toaster manufacturers continuously innovate by introducing new features such as multiple toasting settings, defrost functions, and toaster ovens with additional cooking capabilities. This diversification in product offerings caters to a wide range of consumer preferences and needs, thereby expanding the small kitchen appliances market. Advancements in toaster technology, such as improved heating elements, energy efficiency, and smart features like Wi-Fi connectivity and mobile app control, attract tech-savvy consumers.
 

These technological advancements not only drive the demand for toasters but also contribute to the overall growth of the small kitchen appliances market. Consumers are increasingly seeking customizable options in kitchen appliances. Some toaster models offer adjustable browning settings, allowing users to achieve their preferred level of toastiness. Additionally, there's a rising demand for toasters that can accommodate artisanal bread of different shapes and sizes.
 

Additionally, the growing awareness of health and wellness has led to an increased demand for appliances that support healthier cooking methods. Some toasters come with features like wide slots for toasting artisan bread or settings for toasting frozen items without overcooking. As consumers prioritize healthier eating habits, they may also invest in other small kitchen appliances like air fryers, juicers, and blenders to support their dietary goals, thereby driving market growth.
 

Toaster Market Analysis

Based on product type, the market is divided into pop-up, conveyor, oven, and others. Pop-up dominated the market, with revenue of USD 1.99 billion in 2023 which is expected to exceed USD 3.06 billion by 2032. Pop-up toasters are incredibly convenient to use. You simply place the bread in the slots, push down the lever, and wait for it to pop up when done. This simplicity makes them popular for everyday use in households and even in commercial settings like hotels and restaurants.
 

Additionally, Pop-up toasters are quick. They can toast bread in a matter of minutes, which is ideal for busy mornings or when you're in a hurry. Many pop-up toasters come with adjustable settings, allowing users to choose their preferred level of toasting. Some models even have different settings for different types of bread, such as bagels or English muffins. Pop-up toasters are generally safer to use compared to other types of toasters. The bread is enclosed in the slots during toasting, reducing the risk of burns or fires compared to toaster ovens or toaster grills.
 

Based on application, the market is categorized as household and commercial. In 2023, the household segment accounted for a market share of about 59% and is expected to reach market share of 61% by 2032. Household toasters are generally more affordable compared to commercial or industrial-grade toasters. This affordability makes them accessible to a larger portion of the population, driving higher sales volume.
 

Additionally, household toasters are designed with convenience in mind, catering to the needs of everyday consumers. They are typically compact, easy to use, and require minimal maintenance, making them an attractive option for households. Despite being designed for household use, modern household toasters come with a variety of features catering to different consumer preferences. These may include adjustable browning settings, different toasting functions (such as defrost or bagel settings), and varying slot sizes to accommodate different types of bread.
 

North America dominated the global toaster market, generating about USD 1.67 billion in 2023. Toasters are a staple kitchen appliance in North American households, where breakfast is often a quick and convenient meal. The toaster's convenience aligns well with the fast-paced lifestyle common in the region, driving demand. North American companies often lead in innovation and technology advancements in household appliances. They continuously introduce new features and designs to attract consumers, such as digital displays, multiple toasting settings, and even smart connectivity features.
 

In addition, North America has a large population with a high standard of living, leading to a significant demand for household appliances like toasters. The region's large market size creates opportunities for manufacturers to produce and sell their products at scale.
 

U.S. is likely to dominate in North America toaster market. The U.S. has a strong consumer culture where convenience and efficiency are highly valued. Toaster ovens are a staple in American kitchens due to their convenience in toasting bread, bagels, and other breakfast items quickly and easily. Additionally, American food culture, including the popularity of breakfast foods like toast, bagels, and pastries, contributes to the high demand for toasters in the U.S. There's a growing market for high-end toasters that offer premium features and aesthetics. These toasters often come with higher price tags but offer superior performance, durability, and design elements that appeal to discerning consumers.
 

Germany is likely to dominate in Europe toaster market. German culture places importance on a hearty breakfast, often consisting of bread or pastries. Toaster usage is thus higher due to the widespread consumption of toast or toasted sandwiches. German consumers often value sleek and modern designs in household appliances. Toasters with stylish designs, premium finishes, and compact footprints that complement contemporary kitchen aesthetics might be popular in the market. In addition, German companies like Bosch, Siemens, and Krups are significant players in the home appliance market, including toasters. Their presence and marketing efforts could contribute to higher consumption.
 

China is likely to dominate in Asia pacific toaster market. China is known as the world's manufacturing hub due to its vast industrial infrastructure and low labor costs. Many toaster manufacturers, both domestic and international, choose to produce their products in China to take advantage of its efficient production capabilities and cost-effectiveness. In addition, China has seen a rapid increase in its household appliance market, driven by urbanization, rising incomes, and lifestyle changes. Toasters are becoming increasingly popular among Chinese consumers as they embrace more Western-style breakfast options.
 

Also, China has a strong focus on exports, with many toaster manufacturers targeting both domestic and international markets. The country's export-oriented economy drives competition and innovation in the toaster industry, leading to a wide variety of products at competitive prices.
 

Toaster Market Share

These prominent companies are proactively involved in strategic endeavors including mergers & acquisitions, facility expansion, and partnerships to diversify their product offerings, expand their customer reach, and solidify their market position. Together, the top five mentioned companies collectively occupied around 5% to 10% of the global market share in 2023. They consistently allocate resources to research & development, enhancing their products and integrating innovative technologies to maintain a competitive edge.
 

Toaster Market Companies

Major players operating in the toaster industry include:

• BELLA
• Black & Decker
• Breville
• Cuisinart
• De’Longhi S.p.A.
• Dualit
• Hamilton Beach
• Kenmore
• KitchenAid
• Krups
• Panasonic Corporation
• Sunbeam
• Toastmaster
• Waring
• West Bend
   

Toaster Industry News

• In August 2021, Philips launched the HD2692/90 Avance Collection Toaster, a fresh addition to their toaster lineup. This model boasts an extra-wide slot capable of accommodating thick slices of bread and bagels, along with eight browning settings. Additionally, it features convenient reheat and defrost settings, allowing users to warm toast without additional browning.
   
• In July 2021, Breville unveiled its innovative Breville Smart Toasters line. These toasters are equipped with a sophisticated one-touch auto-lowering mechanism that automatically lowers bread into the toasting slots and adjusts toasting duration based on bread type. Furthermore, they offer a "raise and peek" feature, allowing customers to monitor the toasting progress without interrupting the toasting cycle.
   

The toaster market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Million Units) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type  

• Pop-up
• Conveyor
• Oven
• Others (toaster grill etc.)

Market, By Price Range

• High
• Medium
• Low

Market, By Application

• Household
• Commercial
  • Catering/Buffets
  • Hotel/Restaurant/Café
  • Others

Market, By Distribution Channel

• Online
• Offline
  • Supermarkets/hypermarkets
  • Convenience stores
  • Specialty Stores/Brand Stores
  • Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia   
  • Indonesia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA