The global toaster products market was valued at USD 9.9 billion in 2021 and is projected to expand at a CAGR of 5.3% from 2022 to 2030. A toaster is an electric kitchen appliance used to toast slices of bread, as well as other food items like pastries, waffles, and English muffins. Toasters are available in a range of sizes and styles, ranging from compact toasters to larger, more elaborate four-slice toasters. Furthermore, the increasing trend of cooking and baking at home is expected to drive the demand for toasters.

The growing demand for toasters with advanced functions is anticipated to fuel the market growth. Manufacturers are introducing toasters with various features such as defrosting, bagel setting, removable crumb trays, and multiple heat settings. For instance, in January 2021, Hamilton Beach introduced a 4-slice toaster with an electronic LCD display, one-touch bagel setting, and a removable crumb tray. Furthermore, toasters with advanced functions such as bread warmers, automatic shut-off, and digital displays are gaining traction in the market.

The increasing demand for toasters in the commercial sector is also expected to drive the market. Hotels, restaurants, and cafes are using toasters to prepare various food items, such as waffles, sandwiches, and pastries. Additionally, the increasing demand for toasters in food service outlets, such as cafes and restaurants, is driving the market. Furthermore, the rising number of hotels and restaurants across the world is expected to propel the growth of the market.

Moreover, the increasing demand for energy-efficient toasters is also supporting the market growth. Manufactures are introducing toasters with energy-saving features. For instance, in April 2021, Cuisinart introduced an energy-saving toaster with a stainless steel housing, an extra-wide slots, and an electronic browning control. Furthermore, the increasing demand for toasters with multiple features is expected to drive the market.

The increasing trend of online shopping is expected to bolster the market. Consumers are increasingly preferring online stores to physical stores due to the convenience of product comparison, doorstep delivery, and attractive discounts. For instance, in February 2021, Amazon announced the launch of its new product line, AmazonBasics toasters, which are equipped with advanced features such as defrost, bagel, and cancel settings. The availability of these products on various e-commerce platforms is expected to accelerate the market growth.

The two-slice toaster segment led the market and accounted for a share of around 44.3% in 2022. Increasing demand for two-slice toasters is attributed to its compact size, which is suitable for small households. In addition, two-slice toasters are relatively cheaper than four-slice toasters and are more portable. According to an article published by Good Housekeeping, in February 2021, 98% of people said two-slice toasters are the best choice for small kitchen spaces. Furthermore, increasing disposable income coupled with changing lifestyle is driving the demand for two-slice toasters globally.

The four-slice toaster segment is anticipated to expand at the fastest CAGR of 8.2% over the forecast period. The increasing demand for four-slice toasters is attributed to their larger capacity and multiple functions. According to an article published by Consumer Reports, in February 2020, four-slice toasters are the best choice for larger households. Furthermore, increasing demand for multi-functional kitchen appliances with advanced features such as automated settings and adjustable functions are bolstering the growth of the market.

The supermarkets & hypermarkets segment held the major market share in 2022. This can be attributed to factors such as the increasing number of supermarkets & hypermarkets, the convenience of shopping provided by these outlets, and the availability of a wide range of products under one roof. In addition, these outlets provide the opportunity to compare prices and features of toasters, which drives the segment growth. Moreover, the availability of big brands and discounts offered by retailers encourages customers to purchase toasters from supermarkets & hypermarkets.

The online segment is expected to register the highest growth rate during the forecast period. This can be attributed to the convenience of shopping provided by online retailers, increasing internet penetration, and rising e-commerce sales. Moreover, the presence of key players such as Amazon, eBay, and Walmart in the online segment is expected to drive the segment growth. Consumers are increasingly preferring online

The automatic toaster segment accounted for the largest revenue share of 73.4% in 2022. The increasing demand for easy-to-use kitchen appliances is driving the growth of the market. Automatic toasters are preferred over manual toasters as they are easier to operate and offer better precision. Furthermore, the increasing trend of smart homes has increased the demand for connected toasters, which is further propelling the segment. For instance, in 2021, Breville launched a range of smart ovens and a connected toaster that can be controlled via an app.

The manual toaster segment is estimated to register a CAGR of 8.7% over the forecast period. Manual toasters require users to manually adjust the temperature and time settings according to their preferred settings. Furthermore, the increasing popularity of vintage kitchen appliances is driving the demand for manual toasters. For instance, in 2021, Oster launched a vintage-style two-slice toaster with a modern twist. The product is designed with a classic look combined with modern technology and features.

North America is expected to account for the largest share of the market, due to the increasing demand for modern and advanced toaster products. The availability of advanced and innovative toaster products in the region is expected to drive the growth of the market in this region. For instance, in April 2021, the U.S.-based company, Hamilton Beach released its new Keep Warm Toaster, which features a keep warm button and a countdown timer.

Europe is expected to witness steady growth over the forecast period. The presence of a large number of consumers in the region, along with increasing demand for energy-efficient products, is expected to drive the growth of the market. Furthermore, the growing trend of online shopping in Europe is also expected to propel the growth of the market.

Asia Pacific is expected to witness the fastest growth over the forecast period. This is attributed to the rising disposable income and growing consumer demand in the region. Additionally, the availability of a wide variety of toasters, such as 2-slice, 4-slice, and 6-slice toasters, is expected to fuel the growth of the market in the region. Furthermore, the presence of leading toaster manufacturers, such as Panasonic, Toshiba, and Philips, is expected to further drive the growth of the market in the region.

In this part of the toaster products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your toaster products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a toaster products business comes from sales of toasters and related products. Here you will find a list with a description of each of them and other possible sources of profit such as services, online sales, and wholesale distribution.

Projecting Expenses
In this section, all the regular expenses related to keeping the toaster products business running will be described. The list of operating expenses includes wages, manufacturing costs, marketing costs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the toaster products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Breville launched a new smart toaster that can be controlled through voice commands.

– In August 2022, Hamilton Beach launched a new toaster with a digital display and timer.

– In October 2022, Cuisinart introduced a new toaster oven with convection technology.

Some of the prominent players in the toaster products market include:

– Breville
– Hamilton Beach
– Cuisinart
– Oster
– KitchenAid
– Sunbeam Products, Inc.
– DeLonghi
– Krups
– Black & Decker
– Russell Hobbs

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global toaster products market based on product type, application, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Pop-up Toasters
– Convection Toasters
– Rotisserie Toasters

2. Application Outlook (Revenue, USD Million, 2017 – 2030)

– Home Use
– Commercial Use

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Toaster Product Innovation?
[A]: With technology breakthroughs accelerating, businesses are focusing on introducing advanced toaster products that have innovative features such as temperature control, adjustable time settings, and removable crumb trays. These products are aimed at improving efficiency and providing convenience to the user. Additionally, manufacturers are focusing on incorporating digital displays, automated shut-off feature, and adjustable slots to meet the customer’s needs.

[Q]: Who are the Key Players in the Toaster Products Market?
[A]: Key players in the global toaster products market include Breville, Hamilton Beach, Oster, Hamilton Beach Brands, Inc., Groupe SEB, Cuisinart, DeLonghi, Jarden Corporation, and others.

[Q]: Which Region Offers the Largest Opportunity for Sales of Toaster Products?
[A]: North America is expected to be the largest market for toaster products, growing at a CAGR of 7.8%. This growth is attributed to the increasing demand for convenience and toaster product innovation from the customers.

[Q]: What are the factors driving the toaster product market?
[A]: Factors such as increasing disposable income, growing awareness about healthy eating habits, and the availability of innovative toaster products are driving the global toaster product market. Additionally, the increasing demand for energy efficient products is also driving the market growth.