Global Air Fryer Market Outlook, 2028

Global Air Fryer Market Outlook, 2028

An air fryer can be stated as similar to a microwave oven, which allows it to bake and roast. The important differentiation is its heating elements, which are located on the upper side with a large fan, which make the food super crunchy and crispy in no time, and most importantly, with less oil than when deep-fried. Air fryers heat up quickly, and they cook food evenly and quickly, appreciating the dual combination of the concentrated heating and the placement of the particular-sized fan. The air fryer's market outlook explains that the rising number of heart diseases due to unhealthy eating habits is making people more aware of their health practices. This involves a change of diet and the use of healthy food items. The concept of an air fryer lets one eat fried food while limiting oil consumption. The air fryers work on the concept of convection heat, which cooks food to a level where it becomes brown and crispy on the outside while keeping the food moist from the inside. The major factors responsible for the growth of air fryers are less cooking time, no mess, and the use of minimal oil. The oil used in frying a food item in an air fryer is mostly brushed over.

According to the research report, ""Global Air Fryer Market Outlook, 2028,"" published by Bonafide Research, the market is anticipated to reach USD 4.9 billion, increasing from USD 2.7 billion in 2022 and registering a CAGR of more than 10%. The health-conscious generation seeks equipment that allows them to eat their favourite snack without hesitation. In this case, an air fryer comes in handy because it produces fried snacks with little to no oil. Furthermore, the advanced and efficient heating system operates smoothly, making it simple for end users to adopt because it saves money. Conventional frying uses a lot of oil, fuel, and effort, whereas an air fryer uses electricity and very little oil to produce nearly the same taste. As a result, increased adoption of air fryers in common households is anticipated during the forecast period. To cook food, modern air fryers use only about one tablespoon of oil while circulating air at high temperatures. This is marketed as a guilt-free, healthy way to prepare and consume popular fried foods. Furthermore, an unhealthy buildup of compounds, such as acrylamide, has been linked to cancer and pancreatic diseases. As a result, consumers all over the world prefer low-oil-based or air-fried foods, which boost sales.

The global market, according to the report, is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Europe dominates the market with a 35% share due to the increasing adoption of air fryers for commercial and domestic purposes as health awareness or consciousness about the benefits of maintaining good health grows. In addition, rising demand for frozen foods has boosted demand for air fryers in this region. From 2023 to 2028, Asia-Pacific is expected to grow at the fastest CAGR of more than 12%. Rising consumer disposable income levels in emerging countries, combined with rising health consciousness, are the primary growth drivers. Moreover, the presence of prominent companies, such as Philips, Prestige, and Ninja, is expected to have a positive impact on the region’s growth.

According to the World Customs Organization (WCO), 7-9 percent of global trade consists of counterfeit products. The inability of procurement networks to combat this problem has emerged as a challenge for market players. The impact of counterfeiting is felt in trade and on the health and safety of consumers. The issue is especially prominent in e-sales, where orders are picked up by e-sellers and delivered directly by suppliers to consumers without an appropriate verification process. Also, with the development of sophisticated counterfeiting processes, it is difficult for consumers to distinguish between a genuine and a counterfeit product. This contributes to reduced product sales and revenue with unrestricted online access. Based on end users, the global market is segmented into residential and commercial. The residential segment constitutes the major market share and is poised to grow at the highest CAGR during the forecast period. The surge in popularity of air fryers owing to the preparation of food items with up to 80% less fat than food cooked with other types of traditional fryers has resulted in increased demand for air fryers. Moreover, a rise in consumer awareness towards the product, extensive marketing and advertising by leading brands, and a shift in consumer preference towards air fryers augment the demand from the residential segment.

Based on distribution channels, the global market is classified into offline and online. The online channel will continue to grow with a robust CAGR during the forecast period. The convenience offered by e-commerce is a key reason behind the success of online portals in the air fryer market. E-commerce not only provides ease of convenience and comfort, but it also allows customers to conduct in-depth product research, price and benefit comparisons, and comprehensive value evaluations before making a purchase.Based on the device type, the market is segmented into digital air fryers and manual air fryers. The digital air fryers segment is expected to hold the largest market share of 73% by 2028. This is due to the rising usage of digital equipment, the increasing demand for automation, and raising awareness regarding health.

Air frying is often healthier than frying in oil. It reduces calories by 70% to 80% and contains a lot less fat. This cooking method may help reduce some of the other negative consequences of oil frying. LCD screens, temperature sensors, adjustable thermostat settings, and several cooking modes, such as max crisp, air fry, air roast, air broil, bake, reheat, and dehydrate, are all available on digital air fryers. Convenience is enhanced by such features, which increases demand. On the other hand, the manual air fryer just has grills and basic frying settings. As a result, most manufacturers are focused on digital air fryers to ensure product innovation and global market sales.
Based on product type, the market is segmented into basket- and paddle-type air fryers. A basket-type air fryer is dominating the market with 66% in 2022 due to the fact that basket-type air fryers are gentler with battered and coated foods such as onion rings and home-battered foods, and they also have fewer moving parts so may prove to have a longer life span. The paddle-type air fryer is anticipated to grow more during the forecast period because paddle-types can do liquid dishes such as risotto and curries and also do not require the attention of people while cooking as they turn the fries themselves.

The market is divided into three price ranges: less than US $ 70, US $ 70-US $120, US $120-US $180, and more than US $180.Because of the availability of good quality air fryers within a consumer's budget, the air fryer range between US$70 and US$120 leads the market with a share of around 37%.Further, based on wattage, an air fryer can be bifurcated into below 1200 watts, 1200 watts–1500 watts, and more than 1500 watts. The category of 1200 watts to 1500 watts is dominating the market with a share of 47% in 2022 due to its low electricity consumption and economical price, and this segment is expected to grow more during the forecast period.

Covid-19 Impact:
The outbreak of the COVID-19 pandemic had a huge impact on the global air fryer market. The air fryers at venues such as restaurants and hotels generate a considerable portion of air fryer revenue. In comparison to the last few years, lockdowns have resulted in enormous income losses. The poor growth of the market is attributable to a combination of reasons, including lower demand and consumer awareness regarding these products. This has also impacted people's purchasing power, forcing them to cut back on current expenditures. On the bright side, the demand for air fryers is being pushed by numerous improvements in the industry, and key players are manufacturing and creating them on a huge scale. Furthermore, as people's preferences and lifestyles evolve, the market will be capable of covering its losses throughout the epidemic. Furthermore, the government is evolving programmes to help the market's growth. The rise in investment in the R&D industry is also good for the market's global expansion during the forecast period.

Major Companies present in the market:
Koninklijke Philips N.V., BLACK+DECKER Inc., Conair Corporation, Breville Group Ltd, Meyer Manufacturing Company Limited, NuWave LLC, Groupe SEB, Newell Brands, Rosewill Inc., Bajaj Electricals Ltd, 'De' Longhi Group, Ming's Mark Inc. , Gorenje, Domu Brands, SharkNinja Operating LLC, Havells India Ltd, TTK Prestige Ltd, Stovekraft, Instant Brands, Wonderchef Home Appliances Pvt. Ltd.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Air Fryer market with its value and forecast along with its segments
• Region-wise built-in kitchen appliances market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Device Type:
• Manual Air fryer
• Electric Air fryer

By End Users:
• Commercial
• Residential

By Distribution Channel:
• Offline
• Online

By Product Type:
• Basket Air Fryer (Drawer)
• Paddle Air Fryer (Lid)

By Price Range:
• Below US$70
• US$ 70 - US$ 120
• US$ 120 – US$ 180
• More than US $180

By Wattage:
• Below 1200 Watt
• 1200 Watt – 1500 Watt
• More than 1500 Watt

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Air Fryer industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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