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The Bread Maker Market Size is estimated to grow by USD 228.62 million at a CAGR of 8.33% between 2022 and 2027. The growth of the market depends on several factors, including product innovations and advances leading to portfolio extension and product premiumization, increasing number of product launches, and growth in online sales.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growth in online sales is notably driving the market growth, although factors such as long product replacement cycles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth in online sales is notably driving market growth. Due to increased consumer access to the internet, consumers around the world are buying household appliances, including kitchen appliances like bread makers, online. Global online sales of home appliances are being boosted by the growing use of smartphones and other high-tech devices. The main advantages provided by online platforms that encourage customers to buy household products online include convenience, easy access to products, better promotions, and on-time delivery.
A wide variety of independent online merchants, including Amazon, offer household goods, which are fueling online retail sales. Major international vendors like Newell have also adopted more omnichannel retail strategies as a result of consumers' growing preference for online home goods purchases. Physical stores, large inventories, labor, and other expenses are not necessary with online retailing. Furthermore, with the help of the extensive visibility provided by the internet, retailers can target underserved markets throughout the world through online retailing. A growing number of customers are likely to use online retail portals for buying because they provide security features for online payments, improved customer service, free delivery options, and user-friendly shopping websites. Therefore, such factors will drive the growth of the global market during the forecast period
Increasing adoption of multi-functional and advanced products is an emerging trend in the market. The cost of multi-functional appliances is higher than the cost of standard appliances. However, consumers are looking for multi-functional home appliances because they outperform traditional home appliances in terms of return on investment. Customers believe that multi-functional products help them save time and resources. The products do away with the requirement to buy various products for various applications. These gadgets offer convenience and better outcomes while saving money, space, and operational effort.
Several vendors are constantly innovating to meet the rising demand for multi-functional home appliances in order to stay competitive, draw significant customer attention, broaden their customer base, and create demand. The adoption of such products rises as the number of multifunctional offerings on the global market rises. For instance, SKG Electric's SKG 2LB Automatic Programmable Bread Machine Multifunctional Bread Maker has features that can be used for multiple purposes. The product has three crust color options, a 15-hour delay timer, an automatic keep-warm feature, and 19 programmable menus. Therefore, such innovative features and benefits are expected to propel the growth of the market during the forecast period.
Long product replacement cycles are major challenges impeding the market growth. The choice to buy a household appliance is significantly influenced by innovative designs and cutting-edge features. The majority of home appliances are built for long-term use and do not typically need to be upgraded or replaced frequently. Most branded home appliances from companies like Panasonic are dependable, high-quality, and extremely long-lasting. Additionally, reputable producers make significant R&D investments to increase the useful life of this equipment.
The market's yearly growth is impacted by high initial costs and lengthy replacement cycles. Additionally, the majority of manufacturers of home appliances provide warranties and guarantees, which lengthen product lifespans and deter consumers from making repeated purchases. Furthermore, following industry standards, compliances, and rules improves the longevity of products. Thus, the long replacement cycles will limit sales and hinder the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Breville Pty Ltd - The company focuses on designing and manufacturing home appliances, and kitchen appliances, including bread makers, blenders, juicers, mixers, scales, kettles, ovens, microwaves, toasters, meat grinders, steamers, grills, and food processors. The key offerings of the company include the custom loaf with automatic fruit and nut dispenser.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
The market share growth by the offline segment will be significant during the forecast period. Sales of goods through specialty stores, department stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores are included in the offline distribution channel. Vendors are managing their sales through regional retail organizations to support sales through offline channels. Additionally, they continue to maintain strategic partnerships with the reputable chain of retailers for home appliances.
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The offline segment was valued at USD 320.38 million in 2017 and continued to grow until 2021. Specialty stores offering these are also termed electronic and specialty retailers (EASRs). These stores provide a variety of product lines and brands. As more retailers open their own stores, vendors have more flexibility in planning their budgets for brand development, marketing, advertising, and IT support. Hypermarkets, supermarkets, convenience stores, and clubhouse stores are the second-largest revenue contributors to the global market. They offer a variety of products at competitive prices. Furthermore, compared to other offline channels, department stores have competitive pricing. Additionally, they enable a more thorough assessment of the goods prior to purchase. Some of the factors considered while purchasing products from department stores are convenience, huge stock-keeping units (SKUs), and a wide range of brand variety. Therefore, all these factors will fuel the market segment growth during the forecast period.
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Europe is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Europe is the largest geographical segment of the global market and will continue to remain the largest segment during the forecast period. The rising consumption of bread in European countries is the primary growth driver of the market in Europe. The development of the market in Europe is also being fueled by the introduction of multifunctional products in the home appliance sector. The region's demand for cutting-edge products is driving up demand for and popularity of multi-functional home appliances. Additionally, the region's increased need for innovative and advanced products has raised the price of advanced manufacturers. In order to meet the growing consumer demands, this has led to an increase in the number of market vendors offering multi-functional and sophisticated bread makers, which has greatly aided the expansion of the local market.
In addition, the region's growing urban population and high per capita income are significant drivers of the market. The rising urban population and high per capita income increase consumer spending power, which boosts the uptake of various cutting-edge small home appliances like bread makers. Additionally, the region's growing number of consumer engagement programs from bread maker manufacturers and the internet's widespread use has aided vendors in expanding their market reach, which has fueled the expansion of the regional market under consideration. Hence, all these factors will fuel the growth of the market in Europe during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market caters to Families and Household use, as well as Small food service operators. The market is driven by the Global electronic industry and the trend towards Digitalization. Factors such as Dual working families and Working women contribute to the demand. Consumers seek convenience and quality, leading to the popularity of Fully automatic bread makers over Conventional semi-automatic bread makers.
Disposable income and Living standards influence the preference for Home baked products among the Working population. The market sees a constant evolution due to the Latest technologies like Smart functioning and Multi program features. Smart and AI powered bread makers are gaining traction for their advanced features. Distribution channels include Supermarkets/hypermarkets, E-commerce, and Food service outlets. Raw materials for bread makers are sourced to meet the demands of the Horizontal loaf segment. Inventory cost management is crucial for manufacturers in this market of Small kitchen appliances.
Bread Maker Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.33% |
Market growth 2023-2027 |
USD 228.62 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.79 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 37% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGARO, Bajaj Electricals Ltd., Breville Pty Ltd, Cuisinart, DeLonghi Appliances S.r.l., Glen Dimplex Europe Holdings Ltd., Hamilton Beach Brands Holding Co., JVCKENWOOD Corp., KENT RO Systems Ltd., Koninklijke Philips NV, Lifelong Online Retail Pvt. Ltd., NESCO, Newell Brands Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., SANA PRODUCTS LTD., SEB SA Co., Sharp Corp., Siroca Inc., Stanley Black and Decker Inc., and Zojirushi Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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