USD 708.53 Billion
Air Fryer Market Size, Share, Growth Analysis, By Product(Cylindrical Air Fryers, Basket Air Fryers, Oven Air Fryers, Paddle Air Fryers), By Capacity(<10 liter, 15 liter, 20 liter, >25 lite), By End User(Residential and Commercial (Restaurants and Cafes, Hotels, Others)), By Distribution Channel(Offline (Hypermarkets/Supermarkets, Specialty Stores), and Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2230 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|Tables:
120
|Figures:
79
Air Fryer Market Insights
Air Fryer Market size was valued at USD 708.53 Billion in 2022 and is expected to grow from USD 759.54 Billion in 2023 to reach USD 1324.68 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).
This market's expansion is mostly being driven by the introduction of new items with improved designs. Additionally, it is anticipated that growing consumer interest in the product would be driven by rising health consciousness and awareness of the benefits of eating a balanced diet. The market's predicted expansion has also likely been aided by the high demand from restaurants, hotels, and hospitals. The rising demand for energy-efficient products is also anticipated to positively affect market expansion. The overall retail sales of home and household appliances are expected to top USD 500 billion by the year 2024, according to a prediction made by Haier Smart Home. With total retail sales over 87.9 billion dollars, major kitchen appliance sales account for one of the largest market shares. Due to a number of causes, the air fryer industry is expanding globally. Conspicuous causes include growing knowledge of the negative effects of consuming foods and fats high in oil on cholesterol levels and cardiovascular health. Other elements supporting the market's expansion include increased disposable income, the availability of low-cost EMI, rising urbanisation, shifting lifestyles, and rapidly expanding middle-class segments. This market's expansion is mostly being driven by the introduction of new items with improved designs. Additionally, it is anticipated that growing consumer interest in the product would be driven by rising health consciousness and awareness of the benefits of eating a balanced diet.
The air fryer market has undergone phenomenal expansion during the last few years attributable to rising health consciousness among consumers and increasing choice of healthier cooking options. Air fryers have become fashionable due to the fact that as they provide an easy and convenient way to have fried foods using considerably less oil they allow the consumers reduce their fat intake and live a healthier life. The central reason for the existence of market is to satisfy the customer need for a healthy replacement of deep-fried product, complying with the growing trend of healthy food. Among the main determinants promoting market's expansion is growing awareness of health problems associated with highly fatty food, which forces people to look for Healthier cooking ways.
Nonetheless, the market faces a few of the constraining factors and obstacles which may inhibit the expected growth path. This issue is the relatively high initial cost of air fryers vis-a-vis traditional cooking appliances, which may keep thrift consumers from making a purchase. In addition, the concern on the difference in taste and texture between air-fried food and their deep-fried counterparts is also a problem for market expansion as some people may think air-fried food is less flavorful or crispy.
In the face of these struggles, the market provides a lot of room for growth and development. Manufacturers are now more directed towards product developments and technological innovations to handle consumers’ apprehensions and boost the efficiency of air-fryers. For example, the recent addition of smart features, which include programmable settings and smartphones connectivity in air fryers, has made these appliances more attractive to tech-savvy consumers who prefer the convenience of customization in their cooking. In addition, the expanding choice of air fryer accessories and recipe books bring additional flexibility and attractiveness to the air fryer product, winning trust of more consumers thanks to the availability of new culinary skills.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
digital air fryer
Fastest Growth
analog air fryer
Growth Rate
7.20% CAGR
Global Air Fryer Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Air Fryer Market Segmental Analysis
Global Air Fryer Market is segmented by product, capacity, end user, distribution channel, and region. Based on product, the market can be segmented into cylindrical air fryers, basket air fryers, oven air fryers, paddle air fryers, and others. Based on capacity, the market is segmented into <10 liter, 15 liter, 20 liter, >25 liter. Based on end user, the market is segmented into residential, and commercial (restaurants and cafes, hotels, others). Based on distribution channel, the market is segmented into offline (hypermarkets/supermarkets, specialty stores), and online. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Air Fryer Market Analysis by Product
The digital air fryer segment is expected to grow at a more dominant rate than the analog air fryer segment during the forecast period. Digital air fryers are more advanced and have features such as preset cooking programs, timers, and temperature controls. This is due to the increasing demand for technologically advanced products and the growing popularity of air fryers as a healthy cooking option. Digital air fryers have temperature controls that allow users to set the cooking temperature for their food. This helps to ensure that food is cooked evenly and to the desired level of doneness.
The analog air fryer segment is expected to hold a significant share of the market during the forecast period. Analog air fryers are simpler and have fewer features. This is due to the lower cost of analog air fryers compared to digital air fryers. Analog air fryers are also simpler to use and maintain than digital air fryers.
Air Fryer Market Analysis by End User
The residential segment is the largest segment of the market, accounting for the majority of the market share. This is due to the increasing popularity of air fryers among consumers who are looking for a healthier and more convenient way to cook food. Air fryers are also relatively affordable, which makes them a more accessible option for consumers. Working-class families all around the world are becoming increasingly interested in household appliances, which is predicted to fuel the expansion of the air fryer market over the next few years.
The commercial segment is expected to grow at a faster rate during the forecast period. This is due to the increasing demand for air fryers in restaurants and cafes. Air fryers offer a number of advantages over traditional cooking methods. The inclination for eating low-cholesterol, oil-free cuisine is the key factor driving this industry.
Global Air Fryer Market By Product
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Air Fryer Market Regional Insights
Throughout the forecast period, the air fryer market is anticipated to be dominant in Asia Pacific. In Asia Pacific, the market is expected to increase as a result of rising disposable incomes, rising consumer health consciousness, and rising demand for convenient cooking methods. The Asia-Pacific region dominates the world market for air fryers; rising economic development, rising FDI investments, rapid industrialization, government initiatives like Make in India, and rising consumer spending on home appliances in the region's developing economies are likely to be the major drivers of market growth over the course of the forecast period.
North America is expected to be the growing market for air fryers during the forecast period. The growth of the market in North America is attributed to the increasing health consciousness among consumers, rising disposable incomes, and the growing popularity of online shopping
Global Air Fryer Market By Region
- Largest
- Fastest
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Air Fryer Market Dynamics
Air Fryer Market Drivers
Demand for Convenient Cooking Solutions
- Air fryers provide a convenient and time-saving cooking solution. They offer faster cooking times compared to conventional ovens and stovetops. The ease of use and quick cooking process of air fryers attract consumers who are looking for convenient and hassle-free cooking appliances, particularly those with busy lifestyles.
Changing Consumer Lifestyles and Dietary Preferences
- The shift in consumer lifestyles, including increased urbanization, busier schedules, and the desire for healthier eating habits, is driving the demand for air fryers. As more consumers prioritize health-conscious choices and seek to reduce their intake of fried foods, air fryers provide a means to enjoy crispy and tasty meals with significantly less oil.
Air Fryer Market Restraints
Learning Curve and Recipe Adaptation
- Air fryers operate differently from traditional cooking methods, requiring users to adapt their recipes and cooking techniques. There can be a learning curve for users to understand the optimal temperature and cooking times for different foods. Some consumers may find it challenging to adapt their existing recipes or experiment with new ones, which can be a restraint in the adoption of air fryers.
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Air Fryer Market Competitive Landscape
The competitive landscape is dynamic, with players constantly innovating and expanding their product portfolios to cater to evolving consumer preferences and stay ahead in the market. The competitive landscape is characterized by the presence of established kitchen appliance manufacturers, as well as new entrants focusing specifically on air fryer products.
Air Fryer Market Top Player’s Company Profiles
- Philips (Netherlands)
- Gourmia (United States)
- Cosori (China)
- Black+Decker (United States)
- Tefal (France)
- NuWave (United States)
- Dash (United States)
- GoWISE USA (United States)
- Breville (Australia)
- Chefman (United States)
- Kalorik (Belgium)
- Hamilton Beach (United States)
- Farberware (United States)
- Bella (United States)
- Aobosi (China)
- PowerXL (United States)
- Krups (Germany)
- ChefWave (United States)
- Avalon Bay (United States)
Air Fryer Market Recent Developments
- In March 2023, Philips launched its new Airfryer XXL in the United States. The new air fryer has a larger capacity than the previous model, making it ideal for families.
- In February 2023, Tefal launched its new Actifry Genius XL in Europe. The new air fryer has a number of new features, including a built-in recipe book and a timer.
- In January 2023, Ninja launched its new Foodi Smart XL Air Fryer in the United States. The new air fryer has a number of new features, including a touchscreen display and a built-in recipe book.
Air Fryer Key Market Trends
- Adoption of Hybrid Cooking Appliances: Hybrid cooking appliances that combine multiple functions, such as air frying, toasting, baking, and grilling, are gaining popularity. These versatile appliances offer consumers the convenience of multiple cooking methods in a single device, reducing the need for separate appliances and saving kitchen space.
- Expansion of product development: The increasing demand for different models of air fryers with different sizes, drives the growth of the market. The manufacturer caters to different needs of consumers by offering compact models for single people, and large capacity air fryers for families.
- Technological innovations: The increase in technological advancement in air fryers such as smart connectivity propel the growth of the market. In 2022, Xiaomi announced the launch of a smart Air Fryer with WiFi connectivity and app control in India. These innovations enhance the user experience and cooking precision.
Air Fryer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global air fryer market has experienced significant growth in recent years, driven by various factors such as increasing health consciousness, demand for convenient cooking solutions, and technological advancements. Air fryers offer a healthier alternative to deep frying by using hot air circulation and minimal oil to achieve crispy and tasty results. They have gained popularity among consumers looking to reduce their oil intake and adopt healthier cooking practices. The market is characterized by a competitive landscape with numerous players offering a wide range of air fryer models. Established kitchen appliance manufacturers, as well as new entrants, have capitalized on the growing demand for air fryers and have expanded their product portfolios to cater to different consumer needs and preferences.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 708.53 Billion |
| Market size value in 2031 | USD 1324.68 Billion |
| Growth Rate | 7.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Air Fryer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Air Fryer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Air Fryer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Air Fryer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Air Fryer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Air Fryer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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