Market Size of Residential Toaster Ovens Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 628.88 Million |
| Market Size (2029) | USD 862.83 Million |
| CAGR (2024 - 2029) | 6.52 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Residential Toaster Ovens Market Analysis
The Residential Toaster Ovens Market size is estimated at USD 628.88 million in 2024, and is expected to reach USD 862.83 million by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).
The increased demand for home appliances that help cook food quickly and conveniently is due to the growing number of working professionals and busy lifestyles. Vendors are trying to bring demand for time-efficient products among employed consumers. There is a high demand for residential toaster ovens because they come with multiple options, like intelligent connectivity and accessible cleaning features.
The primary factors that drive the residential toaster oven market are the rising number of fast food outlets and restaurants, coffee shops, quick service restaurants, and cafes, as well as the ease of fast cooking. As employment levels increase, disposable income increases, and the change in living standards increases the demand for residential toaster ovens because working women are growing and have less time to spend in the kitchen. They depend on restaurants, hotels, and bakeries for the meals.
Improper handling of toaster ovens can cause injuries to both children and adults. So manufacturers have made toasters with an automatic shut-off function, significantly reducing accidental risks for children by automatically shutting down according to the programmed timer setting. Also, manufacturers have made residential toaster ovens with fireproof wiring to enhance safety; thus, these features boost the market.
