Overview of the Global Air Fryer Market
In 2023, the air fryer market was estimated to be worth USD 1.21 billion. Based on projections, the air fryer market is expected to increase at a compound annual growth rate (CAGR) of 6.84% from USD 1.30 billion in 2024 to USD 2.20 billion by 2032. The factors driving the growth of the air fryer market are the growing global demand for kitchen appliances and the growing awareness of healthy meals.
The air fryer market has experienced significant growth in recent years, driven by the increasing consumer focus on healthier eating habits and the convenience of cooking with minimal oil. As the global market for air fryers continues to expand, this report delves into the factors contributing to its growth, emerging trends, and forecasts for the market through 2027.
Market Trends for Air Fryer
Expanding Health Benefits of Air Fryer Appliances to Drive Industry Growth
The demand for air fryers has increased recently due to a number of important considerations. The growing worry over fat intake and growing knowledge of healthfulness are two well-known causes driving up demand for air fryers. Air fryers are utilized in both commercial and domestic settings to prepare deep-fried food in a healthier manner. Traditional deep fryers have taken the place of air fryers. The main advantage of these air fryers is that they reduce the amount of oil consumed, which is bad for human health. Consuming large amounts of oils can have negative health effects on people, including diabetes, inflammatory diseases, and other lifestyle illnesses. Thus, using an air fryer can help cut down on or eliminate the high-fat and high-calorie oils included in cooked deep-fried items.
Key Drivers of Market Growth
- Growing Health Consciousness: One of the primary drivers of the air fryer market is the increasing awareness of the health risks associated with excessive oil consumption. Traditional frying methods often require large amounts of oil, leading to high-calorie content in food. Air fryers, on the other hand, use hot air circulation to achieve similar results with little to no oil, making them a popular choice for health-conscious consumers. The ability to enjoy fried foods with fewer calories and less fat has made air fryers a household staple.
- Convenience and Versatility: Air fryers are highly versatile kitchen appliances, capable of cooking a wide variety of foods, from fries and chicken wings to vegetables and baked goods. Their ease of use, quick cooking times, and minimal cleanup requirements make them appealing to busy consumers seeking convenient meal preparation solutions. Additionally, air fryers are compact, making them suitable for small kitchens and apartments, further broadening their appeal.
- Technological Advancements: The air fryer market has benefited from continuous technological innovations, leading to the development of more advanced and user-friendly models. Features such as digital touchscreens, pre-programmed cooking settings, temperature control, and larger cooking capacities have enhanced the functionality and appeal of air fryers. Some models also include additional functions, such as dehydrating, grilling, and roasting, making them multifunctional kitchen appliances.
- Rising Popularity of Home Cooking: The trend toward home cooking, which gained momentum during the COVID-19 pandemic, has contributed to the growth of the air fryer market. With more people spending time at home and experimenting with new recipes, air fryers have become a popular tool for preparing healthier versions of traditionally fried foods. The ease of use and ability to replicate restaurant-style dishes at home have made air fryers a favorite among home cooks.
Analysis of Air Fryer Market Segment
End User Insights for Air Fryer
Residential and commercial end users make up the market segments for air fryers. In terms of revenue from air fryers, the residential segment accounted for approximately 25-30% in 2021, holding the lion's share of the market. This is mostly because there is a growing need for air fryers with cutting-edge technology that eliminate odors and leave the house smelling fresh and clean without emitting any scents. Additionally, the market is expanding as a result of consumers adopting air fryers due to changing lifestyles and rising disposable income.
Distribution Channel Insights for Air Fryer
Based on distribution channels, the air fryer market is divided into store-based and non-store-based segments. Store-based sales led the market in 2021 and are expected to increase at a quicker rate between 2022 and 2030 (60–65%) according to projections. This is because more people are buying home appliances from physical stores since salespeople are there to help customers comprehend the characteristics and operation of the merchandise and facilitate easier purchasing decisions.
Market Trends
- Sustainability and Energy Efficiency: As environmental concerns continue to rise, consumers are increasingly seeking energy-efficient and eco-friendly kitchen appliances. Air fryers, which require less energy than traditional ovens and deep fryers, align with this trend. Manufacturers are responding by developing models with improved energy efficiency and sustainable materials, catering to the demand for environmentally responsible products.
- Expansion of Product Offerings: The air fryer market is witnessing an expansion in product offerings, with manufacturers introducing new models at various price points to cater to different consumer segments. High-end models with advanced features are appealing to tech-savvy consumers, while budget-friendly options are making air fryers accessible to a broader audience. This diversification is expected to drive market growth by attracting a wider range of customers.
- Integration of Smart Technology: The integration of smart technology into air fryers is an emerging trend that is expected to shape the market in the coming years. Smart air fryers with Wi-Fi connectivity, app control, and voice assistant compatibility are gaining popularity among consumers who prefer connected kitchen appliances. These features allow users to monitor and control the cooking process remotely, offering added convenience and precision.
- Growing Demand in Emerging Markets: While air fryers are already popular in developed regions such as North America and Europe, there is growing demand in emerging markets, particularly in Asia-Pacific and Latin America. The increasing disposable income, urbanization, and changing dietary habits in these regions are contributing to the adoption of air fryers. As more consumers in these markets seek healthier cooking alternatives, the air fryer market is poised for significant growth.
Future Outlook
The air fryer market is expected to continue its upward trajectory through 2027, driven by the ongoing trends of health consciousness, convenience, and technological innovation. As consumers become more aware of the benefits of air fryers and manufacturers continue to innovate, the market is likely to see sustained growth. The expansion of product offerings, the integration of smart technology, and the growing demand in emerging markets will further contribute to the market's development.
Key Players in the Air Fryer Market and Competitive Analysis
The air fryer market will expand even further as a result of major companies in the industry investing heavily in RD to expand their product ranges. In order to increase their footprint, market participants are also introducing new goods, signing agreements, purchasing businesses, boosting financial commitments, and working with other organisations. In order to thrive and contend in an increasingly ruthless and harsh marketplace, rivals in the air fryer industry need to offer reasonably priced goods.
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Key Companies in the air fryer market include
- Koninklijke Philips N.V. (Netherlands)
- Tatung Company of America, Inc. (US)
- De'Longhi America Inc. (Italy)
- Groupe SEB (France)
- Bajaj Electricals Limited (India)
- Cuisinart (US)
- SharkNinja Operating LLC (US)
- Breville Inc. (Australia)
- Havells India Limited (India), among others
Air Fryer Market Segmentation
Air Fryer End User Outlook
- Residential
- Commercial
Air Fryer Distribution Channel Outlook
- Store Based
- Non-Store Based
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