The global air fryer market size is anticipated to grow from USD 900 million to USD 1943.03 million in 10 years. The market will experience rapid growth during the forecast period due to product innovations.
Newark, Dec. 07, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 900 million in 2022 global air fryer market will reach USD 1943.03 million in 2032. A wide range of fresh foods, such as chicken, steak, pork chops, fish, and vegetables, can be prepared using air fryers. Because air fryers use less oil, they are a great option for health-conscious people who want to cook and eat their favourite foods guilt-free. Maintaining, cleaning, and storing an air fryer is simple. Convection-cooked food in an air fryer has a crispy, browned outside and a juicy, soft inside. Using an air fryer for cooking is quicker and less messy than deep frying or traditional oven roasting. When it comes to calories and fat content, air-frying beats deep-frying. Food cooks more quickly with the hot air circulation, significantly reducing cooking time. It is also easy to use, clean and requires less fat.
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Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$ 900 Million |
|
Market Size in 2032 |
$ 1943.03 Million |
|
CAGR |
8% |
|
No. of Pages in Report |
230+ |
|
Segments covered |
Product Type, End User, Distribution Channel |
|
Drivers |
The increasing health consciousness globally |
|
Opportunities |
Product innovation |
|
Restraints |
The high cost of air fryers |
Key Insight of the Global Air Fryer Market
North America will dominate the market during the forecast period.
The need for air fryers has increased as people become more conscious of their health and the value of eating a balanced diet. Since air fryers are becoming increasingly popular among social media influencers, residential users’ use is also increasing. Food industry specialists are recommending air fryers as a healthier way to prepare food and providing recipes, meals, and other cooking advice compatible with air fryers. The proliferation of air fryers in retail establishments contributes to the expansion of the market.
In 2022, the digital segment dominated the market with the largest market share of 61% and market revenue of 549 million.
The product type segment is divided into manual and digital. In 2022, the digital segment dominated the market with the largest market share of 61% and market revenue of 549 million.
In 2022, the residential segment dominated the market with the largest market share of 54% and market revenue of 486 million.
The end-user segment is divided into residential and commercial. In 2022, the residential segment dominated the market with the largest market share of 54% and market revenue of 486 million.
In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 29% and market revenue of 261 million.
The distribution channel segment is divided into supermarkets/hypermarkets, convenience stores, retail stores, speciality stores, online and others. In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 29% and market revenue of 261 million.
Advancement in market
With an 8-quart capacity and the ability to cook up to 6.5 pounds of food at once, the Bella Pro Series 8-quart digital air fryer is perfect for preparing large meals or snacks for a large gathering. With 1,700 watts of power, it can reach 400 degrees Fahrenheit in minutes—much faster than an oven or pot of oil. It has nine distinct cooking settings, including options for bacon, fish, poultry, and more. Cleaning up is also easier with the dishwasher-safe and detachable crisping pan and basket.
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Market Dynamics
Driver: The growing global awareness of health.
Due to the rising prevalence of chronic illnesses brought on by changes in eating habits linked to an increase in processed and deep-fried food intake, people are being compelled to adopt healthier lifestyle choices. To limit fat consumption, air fryers are gaining popularity as healthier food preparation alternatives. The variety of items available on the market that let customers bake, roast, steam, grill, and cook their favourite foods is also contributing to the sector’s expansion. The market demand for air fryers is driven by their easy-to-use, safe, and adaptable characteristics, making them suitable for usage by a wide range of users, including seniors and students. Consequently, the expansion of the air fryer market will be driven by the rising health consciousness around the world.
Restraints: The pricey nature of air fryers.
The key factor limiting the expansion of the air fryer market is its high cost. Moreover, because of its restricted capacity, it is not the best option for large families. Additionally, professionals have concerns regarding air-fried food, heightening customer cynicism about purchasing these goods. Moreover, some meals are incompatible with air fryers and may come out dry. Consequently, the market’s growth will be constrained by the high price of air fryers and other issues.
Opportunities: Innovation in products.
Manufacturers of home appliances have been prompted by the growing demand for air fryers to invest more in R&D to produce cutting-edge models. Companies in the market, for example, are incorporating AI to assess food and provide customers with a better experience. Life is getting easier with the introduction of preset cooking settings for common meals. The popularity of air fryers in the market is also rising due to the introduction of translucent and transparent models that allow customers to view their food while it cooks.
Challenges: The growing presence of counterfeit products.
Retail prices for branded, high-quality air fryers are costly. But since they are so inexpensive, most customers also favour phoney, counterfeit, low-quality, oversupplied products. These goods limit the market’s potential growth and make future expansion difficult.
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Some of the major players operating in the global air fryer market are:
• Avalon Bay
• BLACK+DECKER Inc.
• Breville Group Ltd
• Conair Corporation
• GoWISE USA
• Groupe SEB
• Koninklijke Philips N.V.
• Meyer Manufacturing Company Limited
• Newell Brands
• NuWave LLC
Key Segments covered in the market:
By Product Type
• Manual
• Digital
By End User
• Residential
• Commercial
By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Retail Stores
• Specialty Stores
• Online
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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