Toast Maker Market Scope
A toast maker is an electric appliance that uses heat to brown and harden bread so that it becomes a toast. Toasted bread is typically consumed by people of all ages as a part of breakfast. In a world that is moving at a fast pace, demand for home appliances that complete a task within minutes has been on a rise. The rise of quick-serve restaurants and cafes have further increased the consumption of toasted bread. The rise in the working-age population & increased affordability of products in emerging economies would aid growth in the toast maker market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Havells India Ltd. (India), Philips (Netherlands), TTK Prestige (India), Morphy Richards (United Kingdom), Newell Brands (United States), Hamilton Beach (United States), Pigeon Egnite (South Korea), Black & Decker (United States), Bajaj Electricals Ltd. (India) and West Bend (United States) |
CAGR | 11.6% |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Toast Maker market throughout the predicted period.
Havells India Ltd. (India), Philips (Netherlands), TTK Prestige (India), Morphy Richards (United Kingdom), Newell Brands (United States), Hamilton Beach (United States), Pigeon Egnite (South Korea), Black & Decker (United States), Bajaj Electricals Ltd. (India) and West Bend (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Breville (Australia), Imusa (United States), Usha International Ltd. (India), CHASSEUR (France), Sunbeam Corporation (Australia) and BRG Appliances Limited (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Toast Maker market by Type and Region with country level break-up.
On the basis of geography, the market of Toast Maker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2018, Bajaj Electricals, a consumer durables firm acquired the non-stick cookware company Nirlep Appliances. The proposed acquisition made available a running business set up and other synergic benefits to the company. This acquisition provided Bajaj with a strong foothold in the kitchen category and access to quality manufacturing setup in western India.
In May 2019, Philips, one of the leading manufacturers of home appliances, expanded its kitchen appliances segment by foraying into the Oven Toaster Griller (OTG) category. Recognizing consumers’ changing lifestyle and eating habits, Philips launched its versatile Oven Toaster Griller (OTG) - Philips HD6975/00, empowering the consumers seeking healthier and more affordable options for everyday cooking. The appliance enables consumers to prepare a variety of meals in a much easy and healthy manner. and In June 2016, Balmuda, an appliance maker based in Japan, has turned toaster into a high-tech gadget. Using steam and calibrated heat cycles, it transforms store-bought bread into something that smells, tastes, and feels like popped out of the baker’s oven. Although the toaster costs about five times the price of a regular device in Japan, it has become quite a hit.
Influencing Trend:
Pop-Up Toaster Makers with Fully Automatic Functionalities Are Most Popular
Market Growth Drivers:
Increasing Income Levels in Developing Countries Is the Key Driver, Changing Lifestyle and Eating Habits of People and Growing Popularity of Bread Worldwide is Fueling Demand
Challenges:
Highly Competitive Market
Restraints:
High Cost
Opportunities:
Rising Preferences for Appliances That Require Minimal Effort to Complete a Task and Availability of Online Distribution Channels Enhancing Sales
Key Target Audience
Toast Maker Manufacturer, Toast Maker Traders/Distributors/Suppliers, Toast Maker End-User, Toast Maker Raw Material Supplier, Downstream Vendors and Others