Global Air Fryer Market is segmented By Product Type (Digital, Manual), By Distribution Channel (Online, Offline), By Application (Residential, Commercial), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Size
Global Air Fryer Market reached USD 1.1 billion in 2022 and is expected to reach USD 2.0 billion by 2031, growing with a CAGR of 8.8% during the forecast period 2024-2031. The increasing awareness of health-conscious cooking methods, the desire for convenient and time-saving appliances and the growing preference for homemade meals have contributed to the market's expansion.
The market is driven by both residential and commercial consumers. The air fryer market is highly competitive, with numerous manufacturers vying for market share. Key players in the market include Philips, Tefal, NuWave, Cosori, Ninja, GoWISE U.S., and Cuisinart.
These companies hold a major share in the global air fryer market as these companies focus on product innovation, technological advancements, and marketing strategies to gain a competitive edge. Asia-Pacific is among the fastest-growing region covering more than 50.3% of the market share for the product. Countries like China and India contribute 3/4th at the regional level predominately due to a strong electronic industry base and the presence of key players in the region.
Market Scope
|
Metrics |
Details |
|
CAGR |
8.8% |
|
Size Available for Years |
2023-2031 |
|
Forecast Period |
2024-2031 |
|
Data Availability |
Value (US$) |
|
Segments Covered |
Type, Distribution Channel, Application,and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising Health Consciousness
With a growing emphasis on healthy eating habits, consumers seek alternatives to traditional deep-frying methods requiring excessive oil. Air fryers have emerged as a healthier cooking alternative by using hot air circulation to cook food with minimal or no oil. It appeals to health-conscious individuals who want to reduce their calorie and fat intake without compromising on taste and texture.
Due to the growing consumer shift towards healthy lifestyle, companies are also investing in boosting consumer-centric products by using the latest and advanced technology. For instance, Philips offers Airfryer XXL featuring Smart Sensing technology. Customers can find a selection of tasty and healthy recipes every day, be inspired by what other users are preparing, or contribute their recipes by combining the Philips Airfryer XXL with the unique NutriU app. The app provides up to 1,000 delectable, image-guided recipes, helpful cooking advice, shopping lists and more, so users can always have a crowd-pleasing meal nearby.
High Product Cost
The cost of air fryers can be relatively high compared to other kitchen appliances, especially when considering models with advanced features or larger capacities. Prices typically start around USD 50 and can increase to USD 100. These models may have smaller abilities, simpler controls and fewer advanced features.
Furthermore, the premium range of air fryers offers larger capacities, advanced features and high-quality construction. Prices can range from USD 200 to USD 400 or more. The high price tag may make air fryers less affordable for price-sensitive consumers or those on a tight budget. The affordability issue can limit the market potential and deter potential buyers.
Market Segment Analysis
The Global Air Fryer Market is segmented based on type, distribution channel, application, and region.
Rising Demand For Low Cost, Easy Application And Wide Availability Of Air Fryers
Manual air fryer holds a share of nearly 2/3rd of the global air fryer market in 2022. The contributing to the growth of the segment is its low cost, easy application and wide availability. Manual air fryers are often more affordable than models with advanced features and digital controls. The cost-effectiveness appeals to budget-conscious consumers who prioritize functionality over additional bells and whistles.
Furthermore, Manual air fryers are easy to operate. It generally has intuitive knobs or buttons for adjusting temperature and time settings. The simplicity of their design makes them user-friendly, requiring minimal learning curves or technical knowledge. Manual air fryers offer versatile cooking capabilities, allowing users to fry, roast, grill, or bake various foods. The adjustable temperature settings typically range from around 180°C (356°F) to 200°C (392°F) or higher, depending on the specific model. Cooking times can be set according to the desired level of crispness and doneness.
Market Geographical Share
Asia-Pacific’s growing technological advancements and increasing shift towards a healthier lifestyle.
The Asia Pacific has emerged as a lucrative market for air fryers covering half of the global share in 2022. The growing population, rising disposable incomes and changing lifestyles have increased demand for kitchen appliances, including air fryers. The market has experienced steady growth, with more consumers adopting healthier cooking methods.
Furthermore, the region has witnessed technological advancements and increased availability of advanced air fryer models. These models often have features such as digital displays, preset cooking functions and smart connectivity. The appeal of these advanced features has contributed to the market growth in the region.
Companies are heavily investing in the adoption of advanced technology in the region. For instance, on 29 September 2022, INALSA released its Dual Basket Air Fryer for the first time in India. It will be sold at offline retailers and on Amazon and Flipkart. The company is prepared to provide affordable rates to clients who purchase the Dual Zone Air Fryer. This Diwali, if consumers/buyers are interested in a smart air fryer with dual baskets, the largest XL capacity and a limitless number of pre-programmed cooking settings, the INALSA air fryer is the ideal choice.
Market Companies
The major global players include Koninklijke Philips N.V., Avalon Bay, GoWISE USA, De'Longhi America Inc, Tatung Company of America, Inc., Groupe SEB’s (Krups), Bajaj Electricals Limited, Pigeon Corporation and American Micronic Instruments.
COVID-19 Impact on Air Fryer Market
COVID Impact
The pandemic heightened awareness of the importance of maintaining a healthy lifestyle. Consumers became more health-conscious and sought ways to improve their diets and overall well-being. Air fryers, with their ability to cook foods with less oil and retain nutritional value, aligned with the health-conscious trends observed during the pandemic.
Furthermore, with many individuals juggling work-from-home responsibilities, childcare and other challenges brought on by the pandemic, there was an increased demand for kitchen appliances that could streamline cooking processes and save time. Air fryers, known for their fast cooking times and ease of use, became sought-after appliances for quick and convenient meal preparation.
Key Developments
- On 05 March 2023, At the Chicago Inspired Home Show 2023, Gourmia, a designer and producer of cutting-edge countertop kitchen appliances, featured healthy cooking and practical storage. Both are done using its brand-new Fry'N Fold Air Fryer (model GAF789). It conveniently folds up into a small, space-saving size after being air-fried to the right crispness without needing a drop of fatty oil.
- On 01 February 2023, the COSORI brand owned by Vesync Co', a China-based premier kitchen appliance company, announced the launch of an air fryer product -the COSORI 13-Quart Air Fryer Oven. This model offers additional functionality, dual heating and a larger capacity at one of the market's lowest pricing points for the size.
- On 29 September 2022, INALSA released its Dual Basket Air Fryer for the first time in India. It will be sold at offline retailers and on Amazon and Flipkart. The company is prepared to provide affordable rates to clients who purchase the Dual Zone Air Fryer. This Diwali, if consumers/buyers are interested in a smart air fryer with dual baskets, the largest XL capacity and a limitless number of pre-programmed cooking settings, the INALSA air fryer is the ideal choice.
Why Purchase the Report?
- To visualize the Global Air Fryer Market segmentation based on type, distribution channel, application, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous air fryer market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Air Fryer Market Report Would Provide Approximately 61 Tables, 59 Figures And 210 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
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