Press release
Global Air Fryer Market Size Grow At A CAGR Of 7% In The Forecast Period Of 2023-2028
Air Fryer Market Size, Share, Analysis, Growth, Demand, Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 953.59 million
• Forecast CAGR (2023-2028): 7%
• Forecast Market Size (2028): USD 1431.08 million
Rising consumer demand for energy-efficient appliances and easy ways to cook foods are supporting the growth of the global air fryer market. Since hospitals serve wholesome meals, the need for air fryers in hospitals is increasing in favour among consumers. It is estimated that the high demand for air fryers from hotels and restaurants has also contributed to the market's expansion. Over the forecast period, the rising demand for air fryers across a variety of industries will likely propel the market's growth rate.
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Air fryers are quick, secure, and make great food that is crunchy and satisfying for consumers. Increased product sales through online channels are significantly influenced by the rising popularity of e-commerce merchants like Amazon. Such factors are accelerating the market expansion for air fryers.
The digital device types of air fryers held a leading market share and are also predicted to increase at the fastest rate during the forecast period.This is due to the rise in demand for automatic cooking equipment, particularly in expanding economies like China, Brazil, the United States, Canada, and Germany. Increased demand for automation, expanding utilisation of digital technology, and increased health awareness are all contributing to the global air fryer market expansion.
Air Fryer Market Definition and Major Segments
An air fryer is an airtight electrical appliance that uses hot air and little to no oil to fry food. A common cooking tool, it has a fan that pumps hot air at high speeds, making it possible to deep-fry items including potatoes, chicken, fish, and frozen goods.
Based on device type, the market is bifurcated into:
• Manual
• Digital
On the basis of type, the market is divided into:
• Drawer Type
• Lid Type
Based on distribution channel, the market is segmented into:
• Hypermarkets and Supermarkets
• Electronic Stores
• Online
• Others
On the basis of end use, the market is divided into:
• Household
• Commercial
Based on region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Air Fryer Market Trends
Increased health consciousness and understanding of the importance of maintaining a healthy diet are the key market trends anticipated to fuel product demand and promote the growth of the air fryer market. The launch of new air fryers with improved designs are also propelling the market growth. High demand from eateries, lodging facilities, and medical facilities is also anticipated to fuel market expansion.
Additionally, the market for air fryers is anticipated to increase favourably as a result of the high demand for energy-efficient products. Growing concerns about cholesterol levels and fat intake are encouraging people to eat more healthy foods, which is projected to increase demand for air fryers and thus propelling the global air fryer market.
The growing number of consumers who are health-conscious and increased awareness regarding food quality are driving up the demand for food products made with air fryers, which also increases the demand for air fryers. Availability of air fryers with cutting-edge features such touch screen panels, temperature control knob, and rapid preheating are expected to catalyse the market in the coming years.
Key Market Players
The major players in the global air fryer market report are Koninklijke Philips N.V., SharkNinja Operating LLC, Newell Brands, Inc., Breville Group Limited, Havells India Ltd., TTK Prestige Ltd., NuWave, LLC., Faber S.p.A, United Gain Limited, and Corelle Brands LLC (Instant), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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