Bread Maker Market to Record USD 4.40 Bn Growth | Breville USA Inc., JVCKENWOOD Corp., and Koninklijke Philips NV emerge as dominant players | Technavio

• Total Pages: 120
• Companies: 10+ – Including Breville USA Inc., JVCKENWOOD Corp., Koninklijke Philips NV, NACCO Industries Inc., Newell Brands Inc., Panasonic Corp., Siroca Inc., Spectrum Brands Holdings Inc., Stanley Black and Decker Inc., and Zojirushi Corp.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Product (automatic bread maker and regular bread maker)
• Geographies: North America, Europe, APAC, South America, and MEA

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According to the recent market study by Technavio, the Bread Maker Market Size is expected to increase by USD 4.40 billion from 2020 to 2025, progressing at a CAGR of 6.12% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate, occupying 36% of the global market share. The US and Canada are the key markets for bread makers in North America. The market growth in this region will be slower than the growth of the market in APAC.

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Vendor Insights-
The bread maker market is fragmented due to the presence of several regional and international players. Vendors in the bread market are competing in terms of innovative product launches and business expansions.

JVCKENWOOD Corp.: The company offers bread maker products under the product name Breadmaker Silver BM450.

Koninklijke Philips NV: The company offers various ranges of bread maker products which include viva collection airfryer, daily collection airfryer, and others.

NACCO Industries Inc.: The company offers various ranges of bread maker products which include Artisan dough and bread makers, premium dough and bread makers, and others.

Newell Brands Inc.: The company offers bread maker products under the product name Sunbeam programmable bread maker.

Panasonic Corp.: The company offers bread maker products under the product name SD-YR2500 and SD-RD250.

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Regional Market Outlook
The bread maker market growth in North America will be significant during the forecast period. The availability of innovative and automatic bread makers at affordable prices and the growing market for various types of advanced kitchen appliances are driving the bread maker market in North America. In addition, the rising demand for organic bread and multigrain bread will foster regional market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Bread maker Market Driver:
• Product innovations and advances leading to portfolio extension and product premiumization:

The fragmented nature of the market is increasing the competition levels among vendors. Hence, to compete in the market, vendors are focusing on product innovations and portfolio extension to gain an edge over their rivals. In addition, to meet the evolving demands of consumers, vendors are continuously engaging in R&D and innovation to develop premium products backed with value-added features and technologies. This is enabling vendors to set premium pricing and increase their profit margins. All these factors are fueling the growth of the global bread marker market.

• Bread Maker Market Trend:
• Increasing adoption of multi-functional and advanced products:

Consumers in the market are exhibiting increased demand for multi-functional household appliances as they save money, time, and effort and provide convenience. To capitalize on this demand, vendors in the market are focusing on launching multi-functional and advanced bread makers. This trend is expected to have a positive impact on the growth of the market during the forecast period.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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SOURCE Technavio