Air Fryer Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the air fryer market was USD 1.1 billion in 2022, and a CAGR of 6.9% is expected during the forecast period. The increasing popularity of preparing high-quality, hygienic food with less oil is making this market more popular. Increasing popularity and demand for small kitchen appliances for smart cooking by global consumers are driving the growth of the market. Increasing demand for small kitchen appliances for smart cooking is driving the growth of the market significantly.

Food cooked in an air fryer is most suitable for people suffering from obesity and diabetes. It is a unique cooking appliance that employs advanced convection technology to prepare crispy and hygienic food. The increasing awareness of people in the entire world towards hygienic food consumption is driving the growth of the market significantly.

Impact of Covid-19

COVID-19 had a mixed impact on the air fryer market. Due to disruptions in the supply chain, the market got badly affected, and with more people cooking at home due to lockdown and health concerns, there was a surge in demand for convenient cooking appliances, like air fryers. This increased interest in home cooking and healthier eating habits drove the market growth for air fryers during the pandemic. Increasing demand for hygienic and less oily food is driving growth in the market. Though COVID-19 has shifted the priorities of people towards essential goods, There was a bit of a slowdown in the progress of the air fryer market, but this was temporary. As people started to prepare food at home during COVID-19, the demand for the air fryer appliance again increased in the market.

Growth Drivers

Rising awareness about healthier eating habits has led consumers to seek alternatives to traditional frying methods. Air fryers offer a way to enjoy fried foods with significantly less oil, appealing to health-conscious individuals. Air fryers provide a convenient and quick way to prepare meals. They require fewer preheating times compared to ovens and cook food faster. Continuous innovation has led to the development of efficient and more friendly air fryers. Features like presets, larger capacities, and smart functionalities have attracted consumers looking for more versatility.

It is perceived as more environmentally friendly due to its reduced oil consumption and energy efficiency due to deep fryers, appealing to eco-conscious consumers. Air fryers accommodate various dietary preferences, including vegan, vegetarian, and gluten-free diets, making them suitable for a wide range of consumers. Demand for air fryers is significantly increasing due to their portable and easy-to-use nature.

Segmentation

End-User

·         Residential

·         Commercial

Distribution Channel

·         Hyper Market/ Super Market

·         Specialty Stores

·         Online Channels

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

Air Fryers Market End-User Segmentation

On the basis of end-users, the air fryers market is segmented into residential and commercial segments. The residential segment is expected to dominate during the forecast period. The rise in demand for home cooking and healthy eating is driving the growth of the air fryer market. Preparing less oily food is a salient feature of the air fryers. Increasing demand for portable and convenient appliances among household consumers, with their rising disposable income, is the main reason behind the growth in the market.

The launch of technology-driven devices is encouraging consumers to transform their traditional cooking into a smart one. The commercial segment is also growing due to the increasing use of appliances in various restaurants and eating points. Increasing awareness of health consciousness and rising urbanization in the Asia-Pacific region are driving the growth of the market significantly. The increasing number of eating points like McDonald's, KFC, Pizza Hut, Subway, and Domino's has increased the demand for air fryers worldwide.

Air Fryers Market Distribution Channel Segmentation

On the basis of distribution channels, the air fryers market is segmented into hypermarkets, supermarkets, specialty stores, and online channels. Hypermarket/Supermarket is the leading segment and is expected to lead the market during the forecast period. Less oil-using techniques have made air fryers more popular.

Hypermarkets provide a wide variety of brands under a single roof. They are becoming aware of different purchase trends that exist in society with improvements in technology, and home delivery services are becoming readily available. Online purchasing is another fast-growing option that is convenient and increasingly popular in various parts of the world due to the increasing growth of e-commerce. The trend toward less oily food due to health consciousness is increasing, and the air fryer market is increasingly growing due to its ability to produce hygienic and healthy food within no time. Specialty stores are another popular segment, from which the air fryers can be easily obtained.

 Regional Outlook

On the basis of the regions, the air fryer market is segmented into 5 regions: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment and is expected to remain the same during the forecast period. The rise in the trend of using smart cooking appliances is driving the growth of the market significantly. The surge in health consciousness and obesity concerns is driving the growth of the air fryer market significantly. Increasing demand for air fryers subsequently to prepare food is driving the demand for air fryers in the market. The presence of key market players in the North American region is another factor behind the growth of the market.

Increasing demand for convenient food and increasing health consciousness are driving the growth of the market. Increasing urbanization and the trend toward eating ready-to-eat food are major growth drivers. Healthier cooking options in countries like Germany, France, Russia, Spain, China, South Korea, and Japan are driving the growth of the market. Economic factors, cultural preferences, and the easy availability of these appliances are driving the growth of the market significantly. The rising focus on healthier cooking options is driving growth in South Africa and the United Arab Emirates.

Key Players

·         Havells India Limited

·         Taurus Group

·         TTK Prestige Limited

·         Nuwave

·         GoWise USA

·         Kent RO Systems Limited

·         Arovast Corporation

·         Wonderchef Home Appliances Private Limited

·         Koninkijke Philips N.V.

·         Other Players