Toaster Market Size to Reach USD 4.72 Billion by 2027; Rising Consumer Demand for Kitchen Appliances to Contribute Growth, states Fortune Business Insights™

Pune, Oct. 12, 2020 (GLOBE NEWSWIRE) — The global toaster market size is expected to reach USD 4.72 billion by 2027, exhibiting a CAGR of 4.2% during the forecast period. The growing consumer demand for luxurious kitchen appliances items such as refrigerators, mixer grinders, toasters & ovens can have a stupendous effect on the market, states Fortune Business Insights, in a report, titled Toaster Market Size, Share & COVID-19 Impact Analysis, By Product (Pop-up, Oven, and Conveyor), Application (Residential and Commercial), Distribution Channel (Online and Offline), and Regional Forecast, 2020-2027.The market size stood at USD 3.83 billion in 2019.

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The report on the toaster market reveals:

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Market Driver:

Surging Hospitality Industry to Propel Market

The inauguration of new cafés, restaurants, hotels, schools, and others will spur opportunities for the market during the forecast period. The increasing consumption of fast food will simultaneously improve the prospects of the market. According to the report ‘Hospitality, Tourism and Leisure in the UAE’, published by the US-UAE Business Council, as of 2018, Dubai had 703 hotels and apartment properties combined with a total number of 111,864 rooms, an increase of 6% over to that of 2017. The increasing inclination towards food recipes through on-demand videos & posts will foster healthy growth …

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