NEW YORK, March 25, 2024 /PRNewswire/ — The bread maker market size is projected to witness substantial growth from 2023 to 2027, with an estimated increase of USD 228.62 million at a Compound Annual Growth Rate (CAGR) of 8.33%. The surge in market size is attributed to several factors, including product innovations, expansion of product portfolios, and the rising trend of online sales. These insights come from an exhaustive analysis provided in a comprehensive report covering the period from 2017 to 2021 and forecasting trends until 2027.
To understand more about this market- View a sample report
One of the primary drivers of market growth is the escalating adoption of online sales channels.
With the proliferation of internet connectivity and the widespread use of smartphones, consumers are increasingly turning to online platforms for purchasing household appliances, including bread makers. The convenience, accessibility, and promotional offers associated with online retailing have propelled its growth, with major players like Amazon and Newell embracing omnichannel strategies to cater to this burgeoning demand.
Moreover, the market is witnessing a trend towards multi-functional and advanced bread makers. Consumers are willing to invest in appliances that offer versatility and efficiency, thereby eliminating the need for multiple devices. Innovations such as programmable menus, delay timers, and automatic features are driving the adoption of these products, with companies like SKG Electric pioneering multifunctional offerings to meet evolving consumer preferences.
However, the market faces challenges posed by long product replacement cycles. High-quality, durable appliances deter frequent upgrades or replacements, impacting yearly growth rates. Additionally, warranty provisions and compliance standards further extend product lifespans, inhibiting sales. Despite these challenges, manufacturers are continuously investing in research and development to enhance product longevity while meeting consumer demands for innovation.
To understand more about this market- View a sample report
In terms of geographical distribution, Europe emerges as a key market segment, contributing 37% to global market growth.
Factors such as increased bread consumption, growing urban populations, and rising per capita income drive the demand for advanced bread makers in the region. The introduction of multifunctional products and the expansion of online retail channels further stimulate market growth in Europe, making it a focal point for industry players.
The market caters to diverse customer segments, including families, households, and small food service operators. Technological advancements such as smart functionalities and AI-powered features are gaining traction among consumers seeking convenience and quality. Distribution channels encompass supermarkets, hypermarkets, e-commerce platforms, and food service outlets, reflecting the market’s adaptability to changing consumer behaviors.
As the bread maker market continues to evolve, manufacturers are urged to embrace digitalization, innovate product offerings, and optimize distribution channels to capitalize on emerging opportunities. With a focus on convenience, quality, and technological advancement, the market is poised for sustained growth, catering to the evolving needs of consumers worldwide.
To understand more about this market- View a sample report
Analyst Review
The global bread maker market has experienced a significant surge in demand, fueled by various factors such as evolving household needs, the rise of dual working families, and the increasing participation of women in the workforce. This growing segment reflects a shift towards convenient solutions for home-baked products, catering to the modern lifestyle of the working population.
With disposable incomes on the rise and living standards improving worldwide, there’s a noticeable inclination towards automated kitchen appliances. Bread makers, particularly fully automatic ones, have emerged as a popular choice among consumers seeking convenience without compromising on quality.
The latest technologies integrated into these bread makers offer smart functioning and multi-program features, making them adept at catering to diverse preferences and dietary requirements. Smart and AI-powered bread makers exemplify the pinnacle of innovation in this market, providing users with seamless baking experiences and personalized results.
In terms of product types, the market offers both conventional semi-automatic bread makers and advanced fully automatic ones, each catering to different consumer needs and preferences. Additionally, the distinction between horizontal loaf and vertical loaf segments provides options suited to varying kitchen layouts and bread preferences.
Geographically, regions like Asia-Pacific and LAMEA exhibit promising growth potential, driven by increasing digitalization and the proliferation of small kitchen appliances. Furthermore, the expansion of distribution channels, including e-commerce platforms and specialty stores, has widened the market reach, making bread makers accessible to a broader audience.
In the realm of raw materials, manufacturers prioritize quality and sustainability to align with evolving consumer preferences and environmental concerns. Additionally, collaborations with small food service operators and supermarkets/hypermarkets facilitate market penetration and enhance product visibility.
Cuisinart, among other prominent brands, plays a significant role in shaping the market landscape with its innovative offerings and consumer-centric approach. As the demand for bread makers continues to soar, manufacturers are poised to capitalize on this trend by leveraging technological advancements and diversifying their product portfolios to cater to evolving consumer needs.
To understand more about this market- View a sample report
Market Overview
The global electronic industry witnesses a surge in demand for bread makers as dual working families and working women seek convenient solutions for household use. Fully automatic bread makers are favored for their efficiency, catering to busy lifestyles. Conventional semi-automatic bread makers also hold appeal for those who prefer a hands-on approach. With disposable income on the rise, consumers are investing in appliances that enhance living standards, including bread makers. Home baked products, particularly loaves, are gaining popularity, aligning with the desire for healthier options. As a result, the bread maker market experiences steady growth, driven by the evolving needs and preferences of modern households seeking convenience without compromising on quality.
To understand more about this market- View a sample report
Related Reports:
The specialty bakery market size is projected to rise by USD 10.54 billion from 2021 to 2026 at a progressive CAGR of 4%. The specialty bakery market report extensively covers market segmentation by product (specialty bread, specialty cakes and pastries, specialty cookies, specialty crackers and pretzels, and other specialty bakery products) and geography (North America, Europe, APAC, South America, and MEA). The growing demand for functional ingredients is notably driving the specialty bakery market growth.
The fresh baked products market size is estimated to grow at a CAGR of 6.4% between 2022 and 2027. The market size is forecasted to increase by USD 92.47 billion. This fresh baked products market report extensively covers market segmentation by product (breads and rolls, cookies/ cakes/ pastries, and morning baked goods), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The strong distribution network between bakery product manufacturers and customers is notably driving market growth.
Table Of Contents :
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
