North America Toaster Market Size, Share & Trends Analysis Report By Product (Pop-up, Conveyor, and Oven), By Distribution Channel (Offline, and Online), By Application (Residential, and Commercial), By Country and Growth Forecast, 2023 - 2030
The North America Toaster Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 8,831.4 thousand units, showcasing a growth of 4.7% (2019-2022).
To meet diverse consumer preferences, toasters are incorporating advanced browning control mechanisms. Adjustable settings for precise control over toasting levels allow users to achieve the perfect browning for their bread or other items. Urban living trends have spurred the development of compact and space-efficient toaster models. Manufacturers are designing toasters that cater to smaller kitchen spaces, aligning with the needs of consumers in apartments and urban dwellings.
Furthermore, customization features are becoming more prevalent in the toaster market. Users can personalize their toasting experiences with options for different types of bread, crust preferences, and even specific toasting durations, enhancing user satisfaction. To improve toasting efficiency and speed, manufacturers are exploring innovative heating technologies. Rapid heating elements, infrared technology, and even precision heating zones contribute to quicker and more uniform toasting results. Furthermore, with a growing focus on sustainability, the toaster market sees manufacturers incorporating eco-friendly features and energy-efficient models. This aligns with consumer preferences for environmentally conscious appliances, contributing to the market's evolution.
Furthermore, the rising e-commerce sector in Mexico can have several impacts on the toast market, influencing consumer behavior, market dynamics, and the overall demand for toasters. According to the International Trade Administration (ITA), the Mexican e-commerce industry was valued at USD 26.2 billion in 2022, representing a 23 percent increase over 2021. Mexico is positioned among the top five countries in the terms of e-commerce retail growth rate. There were 63 million Mexican e-commerce users in 2022, an increase of 5.5 million over 2021. Experts predict that Mexico's e-commerce sector value will reach USD 70.4 billion by 2027. Therefore, the expansion of e-commerce and rise in food service outlets in the region are driving the growth of the toaster market.
The US market dominated the North America Toaster Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,032.4 million by 2030. The Canada market would showcase a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market is registering a CAGR of 6.3% during (2023 - 2030).
Based on Product, the market is segmented into Pop-up, Conveyor, and Oven. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Application, the market is segmented into Residential, and Commercial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Panasonic Holdings Corporation
- LG Electronics, Inc. (LG Corporation)
- Samsung Electronics Co., Ltd. (Samsung Group)
- Haier Smart Home Co., Ltd. (Haier Group Corporation)
- Hisense International Co., Ltd.
- Breville Group Limited
- Koninklijke Philips N.V.
- Dualit Ltd.
- Hamilton Beach Brands, Inc. (Hamilton Beach Brands Holding Company)
- Whirlpool Corporation
By Product (Volume, Thousand Units, USD Billion, 2019-2030)
- Pop-up
- Conveyor
- Oven
- Offline
- Online
- Residential
- Commercial
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Toaster Market, by Product
- 1.4.2 North America Toaster Market, by Distribution Channel
- 1.4.3 North America Toaster Market, by Application
- 1.4.4 North America Toaster Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
- Chapter 4. Strategies Deployed in Toaster Market
- Chapter 5. North America Toaster Market, By Product
- 5.1 North America Pop-up Market, By Country
- 5.2 North America Conveyor Market, By Country
- 5.3 North America Oven Market, By Country
- Chapter 6. North America Toaster Market, By Distribution Channel
- 6.1 North America Offline Market, By Country
- 6.2 North America Online Market, By Country
- Chapter 7. North America Toaster Market, By Application
- 7.1 North America Residential Market, By Country
- 7.2 North America Commercial Market, By Country
- Chapter 8. North America Toaster Market, By Country
- 8.1 US Toaster Market
- 8.1.1 US Toaster Market, By Product
- 8.1.2 US Toaster Market, By Distribution Channel
- 8.1.3 US Toaster Market, By Application
- 8.2 Canada Toaster Market
- 8.2.1 Canada Toaster Market, By Product
- 8.2.2 Canada Toaster Market, By Distribution Channel
- 8.2.3 Canada Toaster Market, By Application
- 8.3 Mexico Toaster Market
- 8.3.1 Mexico Toaster Market, By Product
- 8.3.2 Mexico Toaster Market, By Distribution Channel
- 8.3.3 Mexico Toaster Market, By Application
- 8.4 Rest of North America Toaster Market
- 8.4.1 Rest of North America Toaster Market, By Product
- 8.4.2 Rest of North America Toaster Market, By Distribution Channel
- 8.4.3 Rest of North America Toaster Market, By Application
- Chapter 9. Company Profiles
- 9.1 Panasonic Holdings Corporation
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.6 SWOT Analysis
- 9.2 LG Electronics, Inc. (LG Corporation)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Regional & Segmental Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Partnerships, Collaborations, and Agreements:
- 9.2.5.2 Product Launches and Product Expansions:
- 9.2.6 SWOT Analysis
- 9.3 Samsung Electronics Co., Ltd. (Samsung Group)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 SWOT Analysis
- 9.4 Haier Smart Home Co., Ltd. (Haier Group Corporation)
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 SWOT Analysis
- 9.5 Hisense International Co., Ltd.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional Analysis
- 9.5.4 SWOT Analysis
- 9.6 Breville Group Limited
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Recent strategies and developments:
- 9.6.4.1 Acquisition and Mergers:
- 9.6.5 SWOT Analysis
- 9.7 Koninklijke Philips N.V.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 SWOT Analysis
- 9.8 Dualit Ltd
- 9.8.1 Company Overview
- 9.8.2 Recent strategies and developments:
- 9.8.2.1 Product Launches and Product Expansions:
- 9.8.3 SWOT Analysis
- 9.9 Hamilton Beach Brands, Inc. (Hamilton Beach Brands Holding Company)
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Product and Regional Analysis
- 9.9.4 Regional Analysis
- 9.9.5 SWOT Analysis
- 9.10. Whirlpool Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 SWOT Analysis
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