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
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Increasing inclination toward health conscious people is anticipated to drive the market growth.
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Rising number of R&D activities to innovate and provide better products is expected to propel the growth of the market.
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The Covid-19 pandemic has hindered the growth of the market owing to disruptions in supply and chain activities.
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High cost of the fryers and availability of limited recipes can hinder the market growth.
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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.
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Attributes
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Details
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Report Title
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Air Fryer Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Manual and Digital), Distribution Channels (Offline and Online)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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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.
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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
Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
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.
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In July 2020, Shark Ninja introduced Ninja Foodi 2-Basket Air Fryer.
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In September 2019, Philips introduced Airfryer XXL with Smart Sensing technology. The technology simplifies the cooking process by removing the uncertainty.
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