Technology

Bread Maker Market size is set to grow by USD 309 million from 2024-2028, product innovations and advances leading to portfolio extension and product premiumization boost the market- Technavio

Published

4 hours ago

September 24, 2024

NEW YORK, Sept. 24, 2024 /PRNewswire/ — The global bread maker market size is estimated to grow by USD 309 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.08% during the forecast period. Product innovations and advances leading to portfolio extension and product premiumization is driving market growth, with a trend towards increasing adoption of multi-functional and advanced products. However, threat from counterfeit product poses a challenge. Key market players include AGARO, Bajaj Electricals Ltd., Breville Group Ltd., Cuisinart, DeLonghi Group, Glen Dimplex Europe Holdings Ltd., Hamilton Beach Brands Holding Co., JVCKENWOOD Corp., KENT RO Systems Ltd., Koninklijke Philips N.V., Lifelong Online Retail Pvt. Ltd., NESCO, Newell Brands Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., SANA PRODUCTS LTD., SEB Developpement SA, Sharp Corp., Siroca Inc., Stanley Black and Decker Inc., and Zojirushi Corp..

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Bread Maker Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.08%

Market growth 2024-2028

USD 309 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.4

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 36%

Key countries

US, Germany, UK, China, and Canada

Key companies profiled

AGARO, Bajaj Electricals Ltd., Breville Group Ltd., Cuisinart, DeLonghi Group, Glen Dimplex Europe Holdings Ltd., Hamilton Beach Brands Holding Co., JVCKENWOOD Corp., KENT RO Systems Ltd., Koninklijke Philips N.V., Lifelong Online Retail Pvt. Ltd., NESCO, Newell Brands Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., SANA PRODUCTS LTD., SEB Developpement SA, Sharp Corp., Siroca Inc., Stanley Black and Decker Inc., and Zojirushi Corp.

Market Driver

The increasing preference for multi-functional household appliances is driving the market for bread makers. Consumers are willing to invest more in appliances that offer multiple features and functions, as they provide a high return on investment. Multi-functional bread makers save time, resources, and space by eliminating the need for separate appliances for various baking needs. Vendors are continuously innovating to meet this demand and stay competitive. The availability of a wide range of multi-functional bread makers is expected to boost market growth during the forecast period.

The Bread Maker market is experiencing significant growth in the cooking equipment sector, driven by the increasing popularity of home-cooked meals among nuclear families with hectic lives. Economic expansion in emerging countries and discretionary spending power have boosted demand for modern bread machines. Intelligent bread makers with pre-programmed settings and wireless connectivity are trending, making baking easier and more convenient. Brands, local dealers, small shop owners, retailers, and service providers are capitalizing on this trend. Rapid urbanization and the rise of smart kitchen appliances have led to the production of compact bread machines, producing various loaves using raw materials like flour. Working women and small-scale bakeries are major consumers, while food service companies and food processing industries are significant buyers of bread makers and related accessories such as bread pans, paddles, small ovens, timers, and programs. Safety features are a priority, with brands focusing on electrical equipment and technical advances to meet consumer demands.

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Market Challenges

The global bread maker market has faced challenges due to the proliferation of counterfeit products in recent years. These imitations, which mimic the packaging of established brands, are sold at lower prices through unauthorized distributors and online retail channels, particularly in price-sensitive markets like China and India. The easy availability of these counterfeits has led to market fragmentation, resulting in a lack of price standardization, an uneven competitive landscape, and erosion of market shares for international vendors. Moreover, the rise of online shopping has made it easier for counterfeiters to sell their products without product inspections or reviews. Consumers, often unaware of product authentication, may mistakenly purchase counterfeits, blaming genuine brands if the products malfunction. This can significantly harm the reputation of reliable, authentic brands. The digital age enables counterfeiters to deceive consumers with products that resemble branded counterparts, further eroding market trust. Counterfeiting has increased due to consumer preference for lower-priced products and the ease of production and distribution in the digital era. The presence of numerous counterfeit products can hinder the growth of the global bread maker market, potentially leading to decreased revenues for prominent vendors. To mitigate these challenges, it is crucial for market players to focus on product authentication, consumer education, and stricter enforcement of intellectual property rights.The bread maker market is experiencing significant growth due to the increasing demand for home-baked products among dual-working families. Fully automatic devices with user-friendly functions have gained popularity, allowing individuals to save time and human efforts. Latest technologies, such as ingredient dispensers for nuts, sultanas, chocolate, and yeast, add convenience. Types of bread, including whole meal loaves and sweet brioche, cater to diverse consumer preferences. High-end models offer connectivity and add-ons like jam, pizza dough, and preservative-free options for the gluten-intolerant population. Simple-to-use and versatile models cater to various sub-segments. The nuclear family trend and working population drive demand for automatic bread makers, with semi-automatic counterparts offering cost-effective alternatives. Commercial places like bakeries, cafes, restaurants, hotels, and grocery stores use commercial bread makers for on-the-go products. Online portals provide easy access to a wide range of bread maker models. The market faces challenges due to competition from commercial bakeries and preservatives in mass-produced bread. However, the trend towards home-baked goods and preservative-free products presents opportunities for growth.

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Segment Overview

This bread maker market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineProduct 2.1 Automatic bread maker2.2 Regular bread makerGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Offline- The offline distribution channel for bread makers consists of sales through specialty stores, department stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores. Specialty stores, also known as electronic and specialty retailers (EASRs), are the highest revenue generators in the global bread maker market due to their increasing popularity. Mass merchandisers, including hypermarkets, supermarkets, convenience stores, and clubhouse stores, are the second-largest contributors to the market’s revenue. These retailers offer a wide range of products at competitive prices. Department stores are another offline distribution channel that offers bread makers at competitive prices, allowing consumers to evaluate products before purchasing. Factors that influence purchases from department stores include convenience and brand variety. Vendors are managing their sales through local retail entities and maintaining strategic alliances with household appliance retailers to boost offline sales.

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Research Analysis

Bread makers are electrical equipment used to produce fresh bread at home, offering a variety of bread types and designs. They use raw materials like flour, water, yeast, and salt to create loaves, reducing the need for human efforts and time. Small-scale bakeries and family users benefit from this convenient cooking equipment, producing bakery items such as whole meal loaves, sweet brioche, and gluten-free bread without the use of preservatives. Food processing industries also utilize bread-making machines for mass production. A bread maker consists of a bread pan, paddles, oven, timer, and other essential components. With discretionary spending on the rise and economic expansion in emerging countries, the market for bread makers continues to grow, particularly among the working class and nuclear families.

Market Research Overview

Bread makers, an essential electrical equipment for home bakers and small-scale bakeries, offer a variety of bread options beyond the traditional loaf. From whole meal loaves to sweet brioche, these machines use raw materials like flour, yeast, nuts, sultanas, and chocolate to create fresh, preservative-free bread at home. Fully automatic devices with the latest technologies and user-friendly functions have gained popularity among working women and dual-working families. Bread makers come in high-end and simple-to-use models, with some featuring ingredient dispensers for added convenience. The nuclear family trend and hectic lives have led to an increase in demand for on-the-go products, resulting in the development of on-demand and connectivity features. Food processing industries also use bread makers to produce bakery items for commercial places like bakeries, cafes, restaurants, hotels, grocery stores, and online portals. The emergence of rapid urbanization and economic expansion in emerging countries has led to a growing market for these machines among the working population. Bread makers consist of a bread pan, paddles, a small oven, timers, and programs, allowing for customizable baking settings. With the rise of gluten-intolerant populations, preservative-free and gluten-free bread options have become increasingly popular. Brands, local dealers, small shop owners, retailers, and service providers offer a range of bread makers to cater to various consumer preferences and budgets. Whether you’re looking for a versatile model that can make jam, pizza dough, or a high-end device with intelligent functions, there’s a bread maker out there for you.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineProductAutomatic Bread MakerRegular Bread MakerGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

7 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

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SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

7 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

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SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

8 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

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SOURCE Brankas