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).
Free Valuable Insights: The Toaster Market is Predict to reach USD 5.4 Billion by 2030, at a CAGR of 5.3%
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.
By Product (Volume, Thousand Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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