Air Fryer Market Expected to Grow at 7.6% CAGR, Hitting USD 1.5 Billion by 2031 | Persistence Market Research

Market Overview

The global air fryer market has experienced a remarkable surge in demand, fueled by growing consumer preference for healthier cooking alternatives. As of 2024, the market is valued at US$932 million and is projected to reach US$1.5 billion by 2031, growing at a CAGR of 7.6%. This expansion reflects shifting dietary habits, technological innovation in kitchen appliances, and the appeal of convenience cooking.

Key growth drivers include increasing health awareness, demand for energy-efficient appliances, and multifunctional kitchen tools. The residential segment currently dominates the market due to widespread adoption in homes. Geographically, North America leads the market, driven by high disposable incomes, a growing inclination toward smart kitchen appliances, and a strong culture of convenience-driven lifestyles.

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Key Highlights from the Report

• The global air fryer market is forecast to grow at a CAGR of 7.6% from 2024 to 2031.
• North America holds the largest market share, followed by Europe and Asia Pacific.
• Compact and mid-size air fryers are the most preferred due to their versatility and affordability.
• Rising health consciousness is significantly influencing buying behavior.
• Smart air fryers with Wi-Fi connectivity and touch controls are gaining traction.
• The commercial segment is witnessing steady growth, especially in cafes and quick-service restaurants.

Market Segmentation

The air fryer market is segmented primarily by product type, including manual and digital air fryers. Manual air fryers are favored for their simplicity and affordability, making them popular among first-time buyers. Digital models, on the other hand, offer advanced features such as touchscreens, programmable presets, and smart home integration, attracting tech-savvy and health-conscious consumers alike.

By end-user, the market is split into residential and commercial segments. The residential segment remains dominant due to widespread consumer demand for healthier at-home cooking solutions. However, the commercial segment is rapidly growing as restaurants and food service providers look for efficient, oil-free frying solutions that align with evolving customer expectations and sustainability goals.

Regional Insights

In North America, the market benefits from a mature consumer base that prioritizes health and wellness. High purchasing power and early adoption of innovative appliances make this region a stronghold for air fryer sales. The presence of key brands and robust online and offline retail networks further bolster market penetration.

Asia Pacific is poised for the fastest growth due to urbanization, rising disposable incomes, and growing awareness of air frying technology. In countries like China, India, and Japan, younger populations and tech-friendly consumers are driving interest in compact, multifunctional kitchen appliances.

Market Drivers

One of the primary market drivers is the increasing global emphasis on healthy eating habits. As more consumers seek to reduce oil intake without sacrificing taste, air fryers offer a compelling solution. Their ability to mimic traditional frying with up to 80% less oil resonates with both health-conscious individuals and families looking to improve their diets.

Market Restraints

Despite promising growth, the air fryer market faces some restraints. High initial costs, especially for premium or smart models, can deter budget-conscious consumers. Additionally, misinformation about air fryer safety, nutritional value, and cooking limitations may hinder broader adoption in developing regions.

Market Opportunities

The evolving consumer landscape presents numerous opportunities for innovation and expansion. Companies can tap into the growing demand for eco-friendly and smart kitchen appliances, integrating features like energy efficiency, recyclable materials, and app-based control. Emerging markets also offer vast potential, with untapped consumer bases and increasing awareness of modern cooking technologies.

Reasons to Buy the Report

✔ Gain insights into a fast-growing global kitchen appliance segment.
✔ Understand key market dynamics, including drivers, restraints, and opportunities.
✔ Identify top-performing segments by product type, end-user, and region.
✔ Access competitive intelligence and recent developments by major players.
✔ Forecast future trends and make informed strategic decisions.

Frequently Asked Questions (FAQs)

How Big is the Air Fryer Market in 2024?
Who are the Key Players in the Global Air Fryer Market?
What is the Projected Growth Rate of the Air Fryer Market by 2031?
What is the Market Forecast for Air Fryers through 2032?
Which Region is Estimated to Dominate the Air Fryer Industry through the Forecast Period?

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Company Insights

Key Players in the Air Fryer Market:

1. Philips
2. Ninja (SharkNinja)
3. Cuisinart
4. COSORI (VESYNC)
5. Instant Brands Inc.
6. Tefal (Groupe SEB)
7. Black+Decker
8. Breville
9. GoWISE USA
10. Dash (StoreBound LLC)

Recent Developments:

• In March 2024, Ninja launched a new dual-basket air fryer with smart sync technology, allowing users to cook two different meals simultaneously with independent settings.

• In January 2024, Philips announced a partnership with NutriU, a recipe-sharing app, to integrate smart cooking features directly into its digital air fryer lineup.

Conclusion

The air fryer market is undergoing rapid transformation, driven by technological innovation, shifting dietary preferences, and the increasing desire for healthier lifestyles. With robust demand across both residential and commercial sectors, and substantial opportunities in emerging markets, the industry is poised for sustained growth. Companies that prioritize energy efficiency, user experience, and product versatility will continue to capture significant market share in this competitive landscape.

As the air fryer becomes a staple in modern kitchens, it represents not only a shift in cooking habits but also a broader trend toward sustainable and health-forward living.

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This release was published on openPR.