Air Fryer Market Soaring at a Steady 7.7% CAGR, Projecting a US$ 1.9 Billion Revenue by 2033, Fueled by Health-conscious Consumers and Advanced Technology

The air fryer market is anticipated to expand its boundaries at a steady CAGR of 7.7% during the forecast period. The market holds a share of US$ 896.5 Million in 2023 while expecting revenue of US$ 1.9 Billion by 2033.  Rising health & fitness concerns among consumers will remain a driving influence. Offerings with multi-functional cooking features will reflect higher demand.

The market for small appliances has transformed as a result of product feature advancements and growing consumer interest in cutting-edge technology. As a result, producers have created air fryers that function like regular ovens. This has benefits for accessibility, saves space in the kitchen, and increases cooking capacity.

The rapid growth of the e-commerce industry, rising consumer affluence, and advancements in the technology of intelligent cooking are driving market expansion. The adoption of air fryers in both the residential and commercial sectors is another factor driving market expansion.

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Cooking appliance manufacturers have been impacted by frantic lifestyles and the resulting desire for healthier diets. Modern air fryers are made to shorten cooking times without sacrificing nutrition as a result. Additionally, market players for air fryers have made significant investments in R&D projects to increase cooking operations' versatility.

Opportunities for growth are anticipated to arise from consumers' growing preference for products with eco-friendly and energy-efficient characteristics. The creation of ENERGY STAR criteria to minimise GHG (greenhouse gas) emissions as a result of strict safety regulations created by environmental regulatory organisations like the EPA would have a positive long-term impact on developments.

Key Takeaways

The United States is expected to remain a prominent regional market due to high preference for oil-free food amongst health-conscious consumers.
Strong growth is emerging from emerging economies of India, China, Saudi Arabia, and Russia, driven by changes in urban lifestyles.
In terms of product type, digital air fryer held notable share in the global air fryer market owing to consistency in food quality.
Residential sector is expected to experience steady growth within the global air fryer market space over the forecast period.

Impact of COVID-19 & 2020 Market Analysis

During the COVID-19 outbreak, air fryer manufacturing companies have been severely impacted owing to disrupted supply chains in terms of raw materials and components. Lockdown restrictions led to short-term halt in production, while sales are bouncing back in 2021. Air fryers are emerging as essential equipment in kitchens with the increasing focus on a healthy lifestyle.

The outbreak has also resulted in substantial growth of categories including cleaning and hygiene products. The growth of the e-commerce sector is also a positive influence as companies focus on expanding their distribution networks to online channels to cater to surging consumer demand. However, brick and mortar retail stores suffered through the Covid-19 lockdown period. The change in buying patterns bolstered sales through e-commerce platforms, which will continue in the long-term.

Who is winning?

The report highlights some prominent players in the global air fryer market, which include Koninklijke Philips N.V, Newell Brands, Inc., 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 (Ming's Mark Inc.), among others. Market players are primarily focused on marketing campaigns to promote their products and create brand awareness among consumers, with social media campaigns gaining notable traction.

In July 2020, SharkNinja Operating LLC introduced the new Ninja Foodi 2-Basket Air Fryer. The fryer has a two-basket cooking system feature for additional versatility compared with traditional air fryers. The air fryer's 8-quart capacity and Dual Zone technology helps the user cook two foods in two ways, and finish at the same time.

In 2019, Koninklijke Philips N.V introduced Airfryer XXL with smart sensing technology. The technology simplifies the cooking process with a unique fat removal technology, with the fat being captured in the bottom tray of the fryer for easy disposal. Additionally, the air fryer can bake, grill and roast.

Product launches will remain a key strategy adopted by market players to gain competitive advantage. Leaders in the air fryer market are introducing products which fulfil the needs of customers.

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Air Fryer Market by Category

Device Type

Manual
Digital

Wattage

Below 1200 Watt
1200-1500 Watt
1500-1800 Watt
1800-2200 Wattage
2200 Wattage & Above

End Use

Commercial
Residential

Price Range

Below US$ 25
US$ 25 - US$ 100
US$ 100 - US$ 200
US$ 200- US$ 300
US$ 300 & Above

Sales Channel

Direct Sales
Supermarket/Hypermarket
Department Stores
Specialty Stores
Online Retailers
Other Sales Channel

Frequently Asked Questions

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Author

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. 

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Nandini Singh Sawlani
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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