The Asia Pacific Bread Maker Market would witness market growth of 8.5% CAGR during the forecast period (2022-2028).
The demand for automatic bread makers is mostly driven by an increase in consumer spending power, the tendency toward nuclear families, and an increase in the working population. They are easier to attach than their semi-automatic competitors and have a straightforward design. Additionally, the consumption of home-baked goods is being encouraged by the growing number of people who are gluten intolerant and by consumers' growing preferences for items without preservatives. This in turn is driving the market's expansion.
In addition, business establishments like bakeries, cafes, restaurants, motels, and grocery shops frequently use bread makers. This is having a favorable impact on the market, along with the rising demand for products that can be consumed on the go and the expanding food and beverage (F&B) industry. Leading companies are also releasing cutting-edge items to maintain their brand identity in a cutthroat industry and increase their market share. As a result, they are extending their business through online portals and integrating artificial intelligence (AI) technologies. In keeping with this, the booming e-commerce sector is increasing demand for them.
Due to the convenience of connection and straightforward design compared to traditional semi-automatic bread makers, there has been an increase in consumer demand for fully automatic bread makers. Additionally, a rise in disposable income and an improvement in living conditions support the expansion of the bread maker sector. High standards of living are correlated with increased disposable income.
The Asia-Pacific region is anticipated to have considerable growth in the coming years as a direct result of an increase in consumer demand for a variety of bread makers. In addition, the region has witnessed a substantial increase in the number of millennials, who are the pioneering consumers of cutting-edge technology devices and digital infrastructure. As a result, it is anticipated that the increase in the population of millennials would present lucrative prospects for the bread maker market as well as its expansion.
The China market dominated the Asia Pacific Bread Maker Market by Country in 2021; thereby, achieving a market value of $61.3 million by 2028. The Japan market is registering a CAGR of 7.9% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 9.2% during (2022 - 2028).
Based on Product Type, the market is segmented into Horizontal Loaf and Vertical Loaf. Based on Application, the market is segmented into Household and Food Service. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Specialty Stores, E-commerce, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Bread Maker Market is Projected to reach USD 729.3 Million by 2028, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Spectrum Brands Holdings, Inc., Newell Brands, Inc., Koninklijke Philips N.V., Breville Group Limited, Cuisinart Corporation (Conair Corporation), Sana Products Ltd. and Siroca, Inc.
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