Toaster Market Research Report Global Industry Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2027
The global ''toaster size'' marketis expected to reach USD 4.72 billion by 2027, exhibiting a CAGR of 4.2% duringthe forecast period. The growing consumer demand for luxurious kitchenappliances items such as refrigerators, mixer grinders, toasters & ovenscan have a stupendous effect on the market, states Fortune Business Insights,in a report, titled “Toaster Market Size, Share & COVID-19Impact Analysis, By Product (Pop-up, Oven, and Conveyor), Application(Residential and Commercial), Distribution Channel (Online and Offline), andRegional Forecast, 2020-2027.” The market size stood at USD3.83 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 Marketare:
- 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 marketreveals:
- 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, andothers will spur opportunities for the market during the forecast period. Theincreasing consumption of fast food will simultaneously improve the prospectsof the market. According to the report ‘Hospitality, Tourism and Leisure in theUAE’, published by the US-UAE Business Council, as of 2018, Dubai had 703hotels 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 foodrecipes through on-demand videos & posts will foster healthy growth of themarket during the forecast period. Besides, the growing governmentalinitiatives & policies for the production of home appliances can promotethe growth of the market.
Declining Sale of Toasters to Retard Market Amid Coronavirus
The diminishing purchasing power of consumers will considerablydampen the business during the pandemic. Moreover, the shift from traditionalshopping methods to online shopping can further limit the adoption of toasters,which, in turn, will restrict the growth of the market. However, the surgingonline sales will consequently uplift the market during coronavirus. Besides,the demand for kitchenware products among the middle class and upper class willfuel the demand for toasters, hence, aiding the market growth.
Regional Analysis:
Heavy Consumption of Kitchenware Products to Promote Growth inAsia Pacific
The Toaster market size in Asia Pacific is expected to witnessrapid growth during the forecast period owing to the increasing consumption ofpremium kitchenware products in developing nations such as India, and China.According to the data presented by the China Household Electrical AppliancesAssociation, on 18 August 2020, single-day transaction sales value of the homeappliances items has reached to USD 38.79 billion in China during the JD.comfestival session. Moreover, the presence of major companies such as Hebei AOCNABaking Machinery Co. Ltd., Haier Group Corporation, Samsung Electronics Inc.,Panasonic Corporation, and others will influence the healthy growth of themarket 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 byvarious 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 forecastperiod?
What Factors are estimated to drive and restrain the market growth?
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/toaster-market-103851
Key Development:
May 2020: Newell Brands Inc., a leader in cookware,bakeware, cutlery, and kitchen appliances introduced cool performancetouch countertop oven under their brand ‘Calphalon’ that consists of aninnovative exterior to provide 75% coolness to the device and the interiorfeature that uses quartz heat technology to deliver 40% more even heat thatother oven’s to provide uniform heating to the food
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Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-toaster-market-10238
