The global ''toaster size'' market is expected to reach USD 4.72 billion by 2027, exhibiting a CAGR of 4.2% during the forecast period. The growing consumer demand for luxurious kitchen appliances items such as refrigerators, mixer grinders, toasters & ovens can have a stupendous effect on the market, states Fortune Business Insights, 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.
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Study Period: 2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
List of the Leading Companies Profiled in the Global Toaster Market are:
- Panasonic Corporation (Osaka, Japan)
- LG Electronics (Seoul, South Korea)
- Samsung Electronics Co. Ltd. (Seoul, South Korea)
- Gorenje (Velenje, Slovenia)
- Haier Group Corporation (Qingdao, China)
- De’Longhi S.p.A. (Treviso, Italy)
- Severin Elektrogerate GmbH (Sundern, Germany)
- BSH Hausgerate GmbH (Munich, Germany)
- HAEGER (California, United States)
- Walten Hi-Tech Industries Ltd. (Gazipur, India)
The report on the toaster market reveals:
- Eminent insights into the industry
- Important data with in-depth research
- Factors exhibiting market growth
- Comprehensive study about main regions
- COVID-19 impact on the market
Market Driver:
Surging Hospitality Industry to Propel Market
The inauguration of new cafés, restaurants, hotels, schools, and others will spur opportunities for the market during the forecast period. The increasing consumption of fast food will simultaneously improve the prospects of the market. According to the report ‘Hospitality, Tourism and Leisure in the UAE’, published by the US-UAE Business Council, as of 2018, Dubai had 703 hotels and apartment properties combined with a total number of 111,864 rooms, an increase of 6% over to that of 2017. The increasing inclination towards food recipes through on-demand videos & posts will foster healthy growth of the market during the forecast period. Besides, the growing governmental initiatives & policies for the production of home appliances can promote the growth of the market.
Declining Sale of Toasters to Retard Market Amid Coronavirus
The diminishing purchasing power of consumers will considerably dampen the business during the pandemic. Moreover, the shift from traditional shopping methods to online shopping can further limit the adoption of toasters, which, in turn, will restrict the growth of the market. However, the surging online sales will consequently uplift the market during coronavirus. Besides, the demand for kitchenware products among the middle class and upper class will fuel the demand for toasters, hence, aiding the market growth.
Regional Analysis:
Heavy Consumption of Kitchenware Products to Promote Growth in Asia Pacific
The Toaster market size in Asia Pacific is expected to witness rapid growth during the forecast period owing to the increasing consumption of premium kitchenware products in developing nations such as India, and China. According to the data presented by the China Household Electrical Appliances Association, on 18 August 2020, single-day transaction sales value of the home appliances items has reached to USD 38.79 billion in China during the JD.com festival session. Moreover, the presence of major companies such as Hebei AOCNA Baking Machinery Co. Ltd., Haier Group Corporation, Samsung Electronics Inc., Panasonic Corporation, and others will influence the healthy growth of the market in the region.
Toaster Market Report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/toaster-market-103851
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (In relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Toaster Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product (Value)
- Pop-up
- Oven
- Conveyor
- By Application (Value)
- Residential
- Commercial
- By Distribution Channel (Value)
- Online
- Offline
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
Key Development:
May 2020: Newell Brands Inc., a leader in cookware, bakeware, cutlery, and kitchen appliances introduced cool performance touch countertop oven under their brand ‘Calphalon’ that consists of an innovative exterior to provide 75% coolness to the device and the interior feature that uses quartz heat technology to deliver 40% more even heat that other oven’s to provide uniform heating to the food
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https://www.fortunebusinessinsights.com/press-release/global-toaster-market-10238
