Domestic Toaster Market

The global domestic toaster market is projected to see a steady increase in both volume and value over the next eight years. China dominates in both consumption and production of domestic toasters, with strong growth rates in both aspects. The article details the trends in consumption, production, imports, and exports of domestic electric toasters worldwide, providing valuable insights for stakeholders in the market.

Market Forecast

Driven by increasing demand for domestic electric toasters worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 166M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $4.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Domestic Electric Toasters

Global domestic toaster consumption soared to 151M units in 2022, growing by 26% against 2021 figures. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the peak volume in 2022 and is expected to retain growth in the immediate term.

The global domestic toaster market revenue totaled $3B in 2022, growing by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Consumption By Country

China (43M units) constituted the country with the largest volume of domestic toaster consumption, comprising approx. 29% of total volume. Moreover, domestic toaster consumption in China exceeded the figures recorded by the second-largest consumer, the United States (15M units), threefold. Russia (7.9M units) ranked third in terms of total consumption with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +11.3%. In the other countries, the average annual rates were as follows: the United States (+1.7% per year) and Russia (+5.6% per year).

In value terms, the largest domestic toaster markets worldwide were China ($480M), Italy ($368M) and Russia ($196M), together accounting for 35% of the global market. The United States, Germany, Japan, France, Thailand, the UK, Canada, South Korea, Democratic Republic of the Congo and Spain lagged somewhat behind, together comprising a further 31%.

Among the main consuming countries, Spain, with a CAGR of +13.5%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of domestic toaster per capita consumption in 2022 were Italy (95 units per 1000 persons), Germany (93 units per 1000 persons) and Canada (88 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Italy (with a CAGR of +18.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Domestic Electric Toasters

In 2022, approx. 190M units of domestic electric toasters were produced worldwide; increasing by 4% on the previous year. Over the period under review, production continues to indicate a measured expansion. The growth pace was the most rapid in 2018 with an increase of 53%. Global production peaked at 195M units in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, domestic toaster production amounted to $3B in 2022 estimated in export price. In general, production continues to indicate a buoyant increase. The growth pace was the most rapid in 2019 when the production volume increased by 28%. As a result, production attained the peak level of $3.5B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of domestic toaster production was China (136M units), accounting for 72% of total volume. Moreover, domestic toaster production in China exceeded the figures recorded by the second-largest producer, Italy (4.8M units), more than tenfold. The third position in this ranking was held by Russia (4.7M units), with a 2.5% share.

In China, domestic toaster production expanded at an average annual rate of +2.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Italy (+59.1% per year) and Russia (+5.5% per year).

Imports

World Imports of Domestic Electric Toasters

In 2022, after three years of growth, there was significant decline in overseas purchases of domestic electric toasters, when their volume decreased by -18.7% to 63M units. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 16% against the previous year. As a result, imports reached the peak of 78M units, and then reduced markedly in the following year.

In value terms, domestic toaster imports fell to $970M in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23%. As a result, imports attained the peak of $1.1B, and then shrank in the following year.

Imports By Country

In 2022, the United States (13M units), distantly followed by Japan (6.4M units), Germany (4.7M units), the UK (4.6M units), Russia (3.3M units) and France (2.9M units) represented the major importers of domestic electric toasters, together achieving 56% of total imports. Australia (2.1M units), Canada (2M units), Spain (1.9M units), the Netherlands (1.8M units), Italy (1.5M units), India (1.5M units) and Poland (1.2M units) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of domestic electric toasters. At the same time, the Netherlands (+5.9%), Russia (+5.8%), Poland (+5.2%), Italy (+2.5%), Spain (+1.3%) and Germany (+1.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +5.9% from 2012-2022. France, Japan and Australia experienced a relatively flat trend pattern. By contrast, India (-1.2%), Canada (-2.2%) and the UK (-2.6%) illustrated a downward trend over the same period. Russia (+2.2 p.p.) significantly strengthened its position in terms of the global imports, while the UK saw its share reduced by -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest domestic toaster importing markets worldwide were the United States ($148M), Japan ($103M) and the UK ($82M), with a combined 34% share of global imports. Germany, Canada, France, Australia, Russia, Spain, Italy, the Netherlands, Poland and India lagged somewhat behind, together accounting for a further 39%.

Poland, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average domestic toaster import price stood at $15 per unit in 2022, increasing by 6% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 6.8%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($22 per unit), while India ($9.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Domestic Electric Toasters

After five years of growth, overseas shipments of domestic electric toasters decreased by -27.2% to 103M units in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 37%. The global exports peaked at 142M units in 2021, and then reduced dramatically in the following year.

In value terms, domestic toaster exports dropped markedly to $1.2B in 2022. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. Over the period under review, the global exports attained the maximum at $1.6B in 2021, and then reduced notably in the following year.

Exports By Country

China (93M units) represented roughly 91% of total exports in 2022.

China experienced a relatively flat trend pattern with regard to volume of exports of domestic electric toasters. While the share of China (-2.6 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1B) also remains the largest domestic toaster supplier worldwide.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest.

Export Prices By Country

The average domestic toaster export price stood at $12 per unit in 2022, picking up by 4.6% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 39% against the previous year. As a result, the export price attained the peak level of $15 per unit. From 2016 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.2% per year.

Source: IndexBox Market Intelligence Platform