Air Fryer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

Air Fryer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

The global air fryer market is anticipated to project robust growth in the forecast period because of increasing health awareness, changing lifestyle and increasing obesity rate. Continuous product innovation is a prominent trend that is anticipated to affect new product launches throughout the projected period.

Air fryers are used as an alternative to deep fryers in cooking. Comparatively speaking to conventional deep fryers, air fryers require less oil. The flavors and textures of food are preserved in the air fryers, much like in traditional fryers. To remove moisture from the meal, hot air combined with tiny droplets of oil is used. The heating coil and fan are the two main parts of an air fryer. The heating coils heat the surrounding air before circulating it with the aid of fan. For instance, Dutch electronics company Philips has introduced the Airfryer XL Connected brand-new air fryer, which uses Rapid Air Technology for healthy frying and has a temperature range of 80°C to 200°C. It can be connected with the Nutri app, which offers guidance on how to prepare food and when to engage with it. A touch screen and seven pre-programmed settings, including keep warm, fry, bake, grill, roast, and reheat, are available on the Philips Airfryer XL Connected.

Additionally, it interacts with Amazon Alexa to make cooking even smarter. Depending on the cuisine, most conventional air fryers can fit enough food for 2 to 4 servings. It's crucial to keep the basket manageable.

Increasing Health Consciousness to Fuel the Market Growth

Consumers are becoming more aware about their health as the obesity rate is increasing at a faster rate. They are becoming more conscious about their food consumption and the negative effect of unhealthy diets as air fryers use less oil, yet the flavor and texture are not retained. Numerous studies have found that eating a lot of vegetable oil lipids increases the risk of heart disease and can cause several other health problems, including diabetes, inflammation, etc. Air fryers are a helpful tool to reduce the amount of high-fat and high-calorie oils used in cooking.

Consequently, despite having substantially less fat than deep-fried food, air-fried food has a similar flavor to fried food. This has also affected shopping habits, particularly about kitchen appliances. This factor contributes to the increasing demand for air fryers.

Expansion of Hospitality Sector Will Fuel the Market Growth

The fast expansion of the hospitality sector is anticipated to be the key factor propelling the market for air fryers worldwide. Most of the world's population upgraded their eating habits because of their busy lifestyles. The demand for ready-to-eat food goods rises, which promotes the growth of hotels and restaurants and the market. In addition to hotels and restaurants, hospitals are also reporting increased demand. Strict patient dietary regulations have forced hospitals to serve meals fried with little oil, which has increased demand for air fryers in the market. Additionally, the expansion of the market in the next years is aided by an increase in experimentation and innovations in various cuisines as well as growth in the gastronomy sector.

Technological Upgradation will Drive the Market Growth

Consumer feedback and ongoing product innovation have enabled market participants to remain viable in the fiercely competitive consumer-centric industry. Additionally, a significant consumer base is drawn to air fryers due to their versatility, which includes deep frying, pan cooking, toasting, and baking. In developing countries, the primary considerations for buying air fryers are their durability, cost, expected lifespan, and average power usage. Therefore, expanding durable, cost-effective, and energy-efficient air fryers remain the focus of attention for industry participants. However, there is a significant market for smart and connected equipment in the developed world. Smartphones, wireless technology, and the Internet of Things are becoming standard home items and aspects of daily life. For instance, Xiaomi launched the Smart Air Fryer 3.5L, a brand-new IoT (Internet of things) integrated home appliance. The new Smart Air Fryer has a wide temperature range, Wi-Fi, and Google Assistant integration. In addition to air frying, it supports baking, defrosting, reheating, and even yogurt fermentation.

Increasing Affordability will Drive the Market Growth

It is anticipated that eliminating the current price differential between traditional and air fryers and introducing innovative air fryers will provide lucrative opportunities for involved industry partners. To stay competitive, manufacturers in the air fryer market always create products with improved functionality and features. The items' prices have dropped and therefore stagnated at a low level for several years despite the development of products with more added value. Due to intense market competition, manufacturers are also under pressure to increase their profit margins. Companies are being compelled to create innovative products due to price decline. As a result, the trend toward lower prices for household appliances is encouraging consumers to buy the goods, which is likely to fuel market expansion.

Market Segmentation

The global air fryer market is segmented based on product type, technology, end use, distribution channel, region, and competitional landscape. Based on product type, the market is further fragmented into drawer and lid. Based on technology, the market is segmented into digital and manual. Based on end use, the market is segmented into residential and commercial. Based on distribution channel, the market is segmented into Supermarkets/Hypermarkets, Multi-Branded Stores, Exclusive Stores, Online and Others (Direct Sales, Institutional Sales etc.). The market analysis also studies the regional segmentation which are North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

Company Profiles

Koninklijke Philips N.V., NuWave, LLC, TTK Prestige Ltd., Breville Group Limited, Newell Brands (Oster), KENT RO Systems Ltd., Bajaj Electricals Limited, GoWISE USA, Wonderchef Home Appliances Pvt. Ltd, and Cuisinart are among the major market players in the global platform that lead the market growth of the global air fryer market. To remain competitive in the market companies are focusing on new innovations and launches. For instance, On September 24, 2022, INALSA, a Taurus Group company with headquarters in Spain, introduced its Dual Basket Air Fryer for the first time in India. In contrast to a conventional single-basket air fryer, it enables simultaneous frying of two different dishes in two different ways.

Report Scope:

In this report, the global Air Fryer market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Air Fryer Market, By Product Type:
• Drawer
• Lid
• Air Fryer Market, By Technology:
• Digital
• Manual
• Air Fryer Market, By End Use:
• Residential
• Commercial
• Air Fryer Market, By Distribution Channel:
• Supermarkets/Hypermarkets
• Multi-Branded Stores
• Exclusive Stores
• Online
• Others
• Air Fryer Market, By Region:
• North America
• The United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Middle East & Africa
• Saudi Arabia
• South Africa
• UAE
• Turkey
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Air Fryer market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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