Air Fryer Market Size, Share, Industry & Opportunities 2031

Segments - Air Fryer Market by Products (Manual and Digital), Distribution Channels (Offline and Online), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Size, Share & Trend Analysis, Report Forecast 2023-2031

Author : Debadatta Patel

Fact-checked by : PARTHA PAUL

Editor : Shruti Bhat

Report Description

The Global Air Fryer Market size was valued at USD 866.97 Million in 2022 and is expected to surpass USD 1.63 Billion by 2031, expanding at a CAGR of 7.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing disposable income in the emerging economies.

An air fryer is similar to oven whose heating elements are located on top and accompanied by large powerful fan. It is utilized during frying food, as it circulates hot air with the help of mechanism of convention. Air fryer manufactures have been focusing on features that lower the cooking time and exhibits consistency in flavour and texture. Modern air fryer uses only one tablespoon of oil, while circulating air at a high temperature.

There are two types of air fryers such as manual and digital. A manual air fryer generally has two dials, one for time and the other for temperature. It also has indicative lights that shows if the food is heated or not. A digital air fryer is a programmed air fryer that has a digital control board that incorporates an LCD screen and a touchpad. They have programmable timers without resetting the timer.

Air Fryer Market Trends, Drivers, Restraints and Opportunities

Increasing inclination toward health conscious people is anticipated to drive the market growth.
Rising number of R&D activities to innovate and provide better products is expected to propel the growth of the market.
The Covid-19 pandemic has hindered the growth of the market owing to disruptions in supply and chain activities.
High cost of the fryers and availability of limited recipes can hinder the market growth.
Government subsidiaries and incentives is speculated to boost the market growth.

Scope of Air Fryer Market Report

The report on the global air fryer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Air Fryer Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Products (Manual and Digital), Distribution Channels (Offline and Online)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	Newell Brands, Inc., Koninklijke Philips N.V., Stanley Black & Decker, Inc., Breville Group Limited, Groupe SEB, SharkNinja Operating LLC (CDH Private Equity), Cuisinart Corporation (Conair Corporation), Meyer Manufacturing Company Limited, GoWISE USA and NuWave, LLC.

Air Fryer Market Segment Insights

Digital segment to account for a considerable market share

On the basis of products, the market is segmented into manual and digital. A digital air fryer has an LED display and a touchscreen. The only difference between manual and digital is the control panel, which provides additional features to the digital air fryer. In 2020, the digital segment accounted for a large share of the market and is expected to propel during the forecast period.

Online segment to grow at a rapid rate

Based on the distribution channels, the market is bifurcated into offline and online. The offline segment dominated the market in 2020, in terms of revenue. Home appliances are more likely purchased brick and mortar stores, as the presence of sales associates helps the consumer to understand the functionality of the product and eases the buying decision for then.

On the other hand, the offline segment is anticipated to exhibit a high CAGR owing to the Covid-19 pandemic, which has encouraged people to shop on online platforms such as Amazon and Flipkart.

Asia Pacific holds a key share of the global market

Based on regions, the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in Asia- Pacific is anticipated to grow at a high CAGR owing to rising economic development, increasing FDI investments, and rapid industrialization in emerging economies such as Indi and China. North America is anticipated hold a significant market share owing to early adoption of latest technologies and presence of major players in countries such as the US and Canada.

Segments

The global air fryer market has been segmented on the basis of

Products

Manual
Digital

Distribution Channels

Offline
Online

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key players

Newell Brands, Inc.
Koninklijke Philips N.V.
Stanley Black & Decker, Inc.
Breville Group Limited
Groupe SEB

Competitive Landscape

Major industry players are Newell Brands, Inc., Koninklijke Philips N.V., Stanley Black & Decker, Inc., Breville Group Limited, Groupe SEB, SharkNinja Operating LLC (CDH Private Equity), Cuisinart Corporation (Conair Corporation), Meyer Manufacturing Company Limited, GoWISE USA and NuWave, LLC.

In July 2020, Shark Ninja introduced Ninja Foodi 2-Basket Air Fryer.
In September 2019, Philips introduced Airfryer XXL with Smart Sensing technology. The technology simplifies the cooking process by removing the uncertainty.

Air Fryer Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Air Fryer Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Air Fryer Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Air Fryer Market - Supply Chain
  4.5. Global Air Fryer Market Forecast
     4.5.1. Air Fryer Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Air Fryer Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Air Fryer Market Absolute $ Opportunity
5. Global Air Fryer Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Air Fryer Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Air Fryer Demand Share Forecast, 2019-2026
6. North America Air Fryer Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Air Fryer Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Air Fryer Demand Share Forecast, 2019-2026
7. Latin America Air Fryer Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Air Fryer Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Air Fryer Demand Share Forecast, 2019-2026
8. Europe Air Fryer Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Air Fryer Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Air Fryer Demand Share Forecast, 2019-2026
9. Asia Pacific Air Fryer Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Air Fryer Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Air Fryer Demand Share Forecast, 2019-2026
10. Middle East & Africa Air Fryer Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Air Fryer Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Air Fryer Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Air Fryer Market: Market Share Analysis
  11.2. Air Fryer Distributors and Customers
  11.3. Air Fryer Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Newell Brands, Inc.
     11.4.2. Koninklijke Philips N.V.
     11.4.3. Stanley Black & Decker, Inc.
     11.4.4. Breville Group Limited
     11.4.5. Groupe SEB