Air Fryer Market Demand Will Reach A Value Of US$ 1.9 Billion by 2032, Boasting a 6.5% CAGR From 2023-2032

According to a new report published by Allied Market Research, titled, "Air Fryer Market Size, Share, Competitive Landscape and Trend Analysis Report, by End User, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032." The air fryer market size was valued at $1 billion in 2022, and is estimated to reach $1.9 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032. The research report offers quantitative and qualitative analyses of the overall market environment, focusing on key investment opportunities, top market segments, value chain analysis, market dynamics, regional outlook, and the competitive landscape.

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Air fryer is a kitchen equipment that prepares meals by flowing hot air around it. It uses convection technology to create a crispy coating on the outside of the meal similar to conventional frying techniques, however, with substantially less oil or fat. The appliance is a small countertop product with a heating component and a blower. Customers place their meals in a ventilated basket or on a plate within the fryer, and hot air speedily flows around the food, frying it evenly & providing a crisp texture. Air fryers have gained substantial popularity due to their capacity to generate healthy versions of classic deep-fried food products by using a fraction of the oil.

The air fryer market is driven by factors such as increase in health consciousness among consumers, advancements in technology, and convenient & time-saving features. However, high prices of air fryers restrict the market growth. Conversely, the integration of smart technological air fryers is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

Significant reduction in the threat of acrylamide production associated with this revolutionary cooking technology is a key driver of the air fryer market growth. Acrylamide, a potentially dangerous chemical compound, generated during high-temperature cooking methods such as deep frying has become a major concern for health-conscious consumers. Air fryers use rapid hot air circulation method instead of soaking food in oil, thereby reducing the production of acrylamide as end product. The reduced acrylamide levels resolve health-related concerns as well as correspond with large initiatives to encourage safe and healthy eating practices. With large numbers of consumers becoming aware of the hazards associated with traditional frying processes, the appeal of air fryers as a healthy cooking choice is increasing. The air fryer market demand reflects an intentional move toward kitchen appliances which provide taste and simplicity as well as actively assist in minimizing health risks, thus establishing air fryers as a preferred choice among individuals seeking more secure & health-conscious culinary experience.

The air fryer market is segmented by end user, distribution channel, and region. On the basis of end user, the market is bifurcated into residential and commercial. According to distribution channel, the market is categorized into hypermarkets/supermarkets, specialty stores, and online channels. Depending on region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, ASEAN, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, the Middle East, and the rest of LAMEA).

Depending on end user, the residential segment dominated the market in 2022 accounting for less than three-fifths of the market share and is expected to register the highest CAGR of 6.2% from 2023 to 2032, owing to increase in demand for air fryers in the residential sector due to the increased requirement for smart and low-oil cooking.

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On the basis of the distribution channel, the hypermarkets/supermarkets segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. This is attributed to surge in demand for ecologically friendly & sustainable air fryers and the exhaustive product offerings of air fryer in the hypermarkets.

Region wise, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in smart cooking technology in the air fryer for low-oil cooking with higher efficiency is among the primary factors driving the growth of the North America air fryer market.

Players operating in the air fryer market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Kent RO Systems Ltd., Newell Brands (Oster), Koninklijke Phillips N.V., Bajaj Electricals Ltd, TTK Prestige Limited, Havells India Ltd, Taurus Group (Inalsa), NuWave LLC, Arovast Corporation (Cosori), and Wonderchef Home Appliances PVT Ltd.

𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐑𝐞𝐯𝐢𝐞𝐰:

Leading players in the air fryer market are providing customized solutions to improve kitchen aesthetics along with continuously striving to introduce innovative products to enhance their market reach. In addition, leading manufacturers are introducing energy-saving illumination and maintenance-free, highly efficient air fryers to attract large segments of consumers. Moreover, warranty and services play an important role in long-term customer engagement and retention. Therefore, upsurge in personalized discounts and offers is luring the customers. While discounts and offers have always been in tradition, providing specific offers according to demography remains a major challenge for engaged stakeholders in the industry.

Key findings of the study:

➢ According to the air fryer market trends, on the basis of end user, the residential segment dominated the air fryer market in 2022 and is anticipated to continue the same trend during the forecast period.
➢ According to the air fryer market analysis, on the basis of distribution channel, the hypermarkets/supermarkets segment dominated the air fryer market in 2022 and is expected to retain its dominance throughout the forecast period.
➢ Region wise, North America region accounted for the highest air fryer market share in 2022 and is expected to grow at a CAGR of 5.8% during the forecast period.

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Key Benefits For Stakeholders:

➢ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the air fryer market analysis from 2022 to 2032 to identify the prevailing air fryer market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the air fryer market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➢ The report includes the analysis of the regional as well as global air fryer market trends, key players, market segments, application areas, and market growth strategies.

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