Air Fryer Industry is Expected to Reach $ 2.0 Billion by 2031 - Koninklijke Philips N.V., Avalon Bay, GoWISE USA, De'Longhi America Inc

Global Air Fryer Market reached USD 1.1 billion in 2022 and is expected to reach USD 2.0 billion by 2031, growing with a CAGR of 8.8% during the forecast period 2024-2031.

The air fryer market has grown due to increased awareness of health-conscious cooking, demand for convenient appliances, and a preference for homemade meals. Both residential and commercial consumers drive the market, with key players like Philips, Tefal, NuWave, Cosori, Ninja, GoWISE U.S., and Cuisinart leading through product innovation and marketing strategies. Asia-Pacific is the fastest-growing region, holding over 50.3% of the market, with China and India contributing significantly due to their strong electronics industries and key manufacturers.

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Key Developments:

• On March 5, 2023, at the Chicago Inspired Home Show, Gourmia showcased its new Fry'N Fold Air Fryer (model GAF789), designed for healthy cooking and easy storage. It folds into a compact size after air-frying food to crisp perfection without using oil.

• On February 1, 2023, COSORI, part of Vesync Co., launched its 13-Quart Air Fryer Oven, offering dual heating and large capacity at a competitive price.

• On September 29, 2022, INALSA introduced its Dual Basket Air Fryer in India, available on Amazon and Flipkart, providing an XL capacity and multiple pre-programmed cooking settings at an affordable price.

Market Dynamics:

As health-conscious consumers seek alternatives to traditional deep frying, air fryers have gained popularity for cooking with minimal or no oil through hot air circulation. This appeals to those looking to reduce calorie and fat intake without sacrificing flavor or texture. In response to this shift, companies are investing in innovative, health-focused products. For example, Philips offers the Airfryer XXL with Smart Sensing technology, integrated with the NutriU app, which provides users with over 1,000 healthy recipes, cooking tips, and shopping lists to inspire nutritious meal preparation.

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Market Segment:

By Product Type: Digital, Manual

By Distribution Channel: Online, Offline

By Application: Residential, Commercial

Major Key Players:

• Koninklijke Philips N.V.
• Avalon Bay
• GoWISE USA
• De'Longhi America Inc
• Tatung Company of America, Inc.
• Groupe SEB's (Krups)
• Bajaj Electricals Limited
• Pigeon Corporation
• American Micronic Instruments
• Meyer Corporation

*Note:

Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

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