Latest News - Residential Toaster Ovens Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Residential Toaster Ovens Market is being driven by Technology advances and innovation lead to product premiumization

The Residential Toaster Ovens Market is expected to grow at a CAGR of 7.44% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1058.8 million. In the residential toaster oven market, the increasing consumer preference for advanced and innovative appliances presents significant business opportunities. Vendors can capitalize on this trend by introducing smart toaster ovens, which offer enhanced functionality and user-friendly features. For example, June Life's smart residential toaster ovens enable operation via smartphones and other smart devices, and include seven distinct cooking appliances such as convection ovens, air fryers, dehydrators, slow cookers, broilers, toasters, and warming drawers. These smart ovens are also energy-star certified, ensuring energy efficiency and cost savings for consumers. 

Get more information on Residential Toaster Ovens Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Non-smart toaster ovens
  • Smart toaster ovens
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Technology advances and innovation lead to product premiumization
• Enhanced safety features in residential toaster ovens
• Increasing disposable income of consumers in developing countries

However, the market also witnesses some limitations, which are as follows:

• Long product replacement cycle
• High penetration of alternative products
• Regulations and standards for compliance in terms of product information and performance

Benefits of Buying Global Residential Toaster Ovens Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Residential Toaster Ovens Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Residential Toaster Oven market is witnessing significant growth due to the increasing popularity of quickservice restaurants, food outlets, and ecommerce giants offering discounts and financing options on toaster ovens. The internet has made online sales of toaster ovens, frying pans, and replacement items more accessible than ever before. However, the market faces intense rivalry from standard ovens and other cooking equipment. Toaster ovens are increasingly being adopted by adults, children, working women, cafes, quick service restaurants, coffee shops, and fast food outlets for their energy efficiency and convenience. The life cycle of toaster ovens is longer than that of other cooking equipment, making them a cost-effective solution for businesses and households. Key features of toaster ovens, such as fireproof wiring, automatic shutoff, and energy efficiency, have become essential for customer awareness. As the market grows, ecommerce platforms and store-based retailers are investing in improving the customer experience, offering a wide range of toaster ovens, and providing excellent after-sales service. The future of the Residential Toaster Oven market looks promising, with continued innovation and technological advancements in toasting equipment.

Market Research Overview

The residential toaster oven market falls under the small household appliances segment of the global household appliances industry. This sector generates revenue for manufacturers producing electric appliances designed for home use, excluding televisions, personal computers, and large appliances such as refrigerators and washing machines. Additionally, this market does not include power tools, hand tools, machine tools, or agriculture equipment. The global household appliances market encompasses major appliances, small appliances, hand tools, power tools, and garden improvement tools. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/