Global Toaster Market Grows Steadily at a CAGR of 6.01%

Introduction

A toaster is a compact kitchen device used to brown slices of bread by applying radiant heat. It usually features slots to insert the bread, heating elements that become red-hot, and a control system—such as a timer or thermostat—to manage the toasting process. Once the bread is toasted to the selected level, the appliance shuts off automatically, and the toasted slices pop up. Toasters are often used to prepare breakfast foods like toast, bagels, and English muffins. Many modern models offer additional functions, including adjustable browning controls, defrost options, and reheat settings.

Market Dynamics

Urbanization & changing lifestyles drive the global market

The flourishing trend of urbanization and changing lifestyles is playing a crucial role in boosting the global demand for toasters. In cities, hectic work routines and limited time for cooking have prompted consumers to opt for fast and convenient meal preparation options. Toasters have become a preferred choice due to their simplicity and ability to quickly prepare breakfasts and snacks, making them well-suited to the pace of modern urban life.

• According to data from The Global Economy, around 61.36% of the global population lived in urban areas in 2023, a rise from 56.2% in 2020. Moreover, the United Nations estimates that by 2050, nearly 68% of the world’s population will reside in urban regions—an increase of 2.4 billion people.

This ongoing urban expansion is expected to drive sustained growth in the demand for space-saving and efficient kitchen appliances such as toasters.

Rising demand for multi-functional toasters creates tremendous opportunities

The rising demand for compact and multifunctional kitchen appliances is opening up significant opportunities in the global toaster market. Urban consumers, in particular, are prioritizing space-saving and convenient solutions, fueling interest in toasters that offer more than just basic functions.

• A prime example is the upcoming launch of the Chef iQ Mini Oven in June 2025, which showcases this shift with its 11-in-1 functionality—including toasting, air frying, and reheating—along with a 25-quart capacity, touchscreen interface, app connectivity, and energy-saving capabilities. These innovations align with the growing consumer preference for smart, sustainable, and high-performance appliances.

As a result, this trend is expected to spur product innovation and expansion, particularly in the mid-range and premium segments. Brands that focus on delivering compact, eco-friendly, and feature-rich toasters are well-positioned to gain a competitive advantage in this dynamic market.

Regional Analysis

In the Asia-Pacific region, the global toaster market is experiencing significant growth, driven by the surging urbanization, rising disposable incomes, and changing consumer preferences. Countries like China and India are seeing a shift in consumer behavior, with more households opting for modern kitchen appliances as lifestyles become busier. For example, in China, the demand for advanced toasters with multifunctional features like defrosting and reheating is on the rise, particularly among young urban professionals.

Similarly, in India, affordable and compact toaster models are gaining popularity due to smaller kitchen spaces in urban homes. Additionally, the growing trend of e-commerce platforms such as Amazon and Flipkart makes it easier for consumers across the region to access a wide variety of toasters, further boosting market growth. The region’s increasing preference for convenience and innovation presents opportunities for global brands to cater to diverse consumer needs.

Key Highlights

• The global toaster market size was valued at USD 4.21 billion in 2024 and is estimated to grow from USD 4.46 billion in 2025 to reach USD 7.11 billion by 2033, growing at a CAGR of 6.01% during the forecast period (2025–2033).
• By type, the global toaster market is segmented into pop-up toasters, conveyor toasters, oven toasters, and toaster ovens. The pop-up toasters dominated the market.
• By technology, the market is classified into manual toasters, electric toasters, and smart toasters.
• By application, the market is divided into residential and commercial. The residential segment held the largest market share.
• By distribution channel, the market is segmented into offline and online channels.
• Asia-Pacific is the highest shareholder in the global market.

Competitive Players

1. Breville Group
2. Hamilton Beach Brands
3. Philips Electronics
4. Cuisinart
5. KitchenAid (Whirlpool Corporation)
6. Sunbeam Products
7. Black+Decker
8. De’Longhi S.p.A.
9. Russell Hobb
10. Smeg S.p.A.

Recent Developments

• In March 2025 - Panasonic introduced the NB-G211 FlashXpress model to mark the 25th anniversary of its iconic line. This model exemplifies the shift toward multi-functionality by integrating air frying, baking, broiling, and toasting in a single appliance. It features dual infrared heating elements for faster and even cooking, along with a PFAS-free interior, reflecting modern priorities of health and sustainability.

Segmentation

1. By Type
   1. Pop-Up Toasters
   2. Conveyor Toasters
   3. Oven Toasters
   4. Toaster Ovens
   5. Others
2. By Technology
   1. Manual Toasters
   2. Electric Toasters
   3. Smart Toasters
3. By Application
   1. Residential
   2. Commercial
4. By Distribution Channel
   1. Online
   2. Offline
5. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa