According to the research report titled ‘Global Toaster Market Size study, by Product (Pop-up toasters, Toaster ovens and Conveyor toasters), by Application (Commercial and Residential), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global toaster market size is anticipated to expand considerably during the forecast period 2021-2027.
 

As per the findings of the report, increasing consumer demand for electric kitchen equipment, growing need for quick preparation of breakfasts due to tight schedules of the expanding working population, and expansion of food service and hotel industries are majorly driving global toaster market growth.
 

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Additionally, technological advancements and increased urbanization are expected to boost the market demand. For example, in June 2021, Redmond released a two-slice stainless-steel toaster with a full touch screen LED display, six bread shade browning settings, and reheat/defrost/cancel options to attract new customers.
 

For the unversed, toaster offers an enhanced convenience to prepare an easy breakfast and it can also be utilized for baking pizzas, waffles, crumpets, and other items.
 

Speaking of market restraints, high costs associated with the product as well as their repair may limit the remuneration of businesses during the predicted period.
 

From regional perspective, as per the report, key regions considered for assessing global toaster market size and scope are North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy, ROE), Asia Pacific (Japan, China, South Korea, India, Australia, RoAPAC), and Latin America (Mexico and Brazil).
 

Asia Pacific, in terms of market share, currently leads the industry growth and will likely record strong gains in the forthcoming years due to rapid urbanization and rising presence of leading quick-service restaurants in the region.
 

Meanwhile, North America is expected to exhibit the highest growth rate during forecast period, owing to higher adoption of advanced kitchen appliances and expansion of coffee shops in the region.
 

Considering the competitive landscape, Breville USA, Inc., Dualit Limited, De'Longhi S.p.A., Hamilton Beach Brands Holding Company, Toastmaster International, West Bend Inc., KitchenAid, Cuisinart, Black+Decker Inc., and Waring Commercial are the major companies influencing the industry dynamics.