The Global Air Fryer Market is anticipated to grow at a CAGR of around 8% in the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. One of the major factors that would lead to the growth in the market is rising awareness among the population across the globe to stay fit & healthy. The population across the globe has been suffering from various health-related issues, such as being overweight and obese. According to the World Health Organization (WHO) 2021, at least 2.8 million people die each year as a result of being overweight & obese.
A rising trend of fitness enthusiasts and bodybuilding has been witnessed amongst the population across the globe who prefers to avoid oil-based food. As a result, the population has shifted toward using these fryers to prepare diets that promote body fitness by avoiding saturated fat and cholesterol. Besides, the use of an air fryer, which runs on electricity, contributes to a sustainable approach and has been a cost-effective method of frying food by eliminating the use of natural gas. Thus, their use has been intensifying in a variety of sectors, including households, hospitals, hotels, restaurants, and other establishments.
Moreover, the it is also available in the market equipped with the latest technological features such as digital display, intelligent sensors, etc., which provides automation to the device leading to greater adoption among consumers.
In addition, as a result of lifestyle changes, citizens across the world are switching to air fryers to avoid the consumption of fried or fatty foods. The emergence of lifestyle has resulted in higher commercial and industrial activity worldwide. Professionals in these industries could eat fried foods in both residential & commercial settings, depending on their needs. Furthermore, commercial establishments have been keeping these machines to improve the facility for providing fried foods to employees and workers. As a result, the market is predicted to experience significant growth during the forecast period. further states the research report, "Global Air Fryer Market Analysis, 2023."
Household Acquired a Significant Share Due to the Rising Interest Towards Oil-free Food
Based on the end user, the market is further classified as Households, Hotels & Restaurants, Hospitals, Offices, and Others. Of them all, Households acquired significance in the utilization of the air fryer due to the growing demand for oil-free foods among the citizens. The rising health consciousness & a transition to the urban lifestyle have pushed the demand for low-oil-based appliances, thus driving the growth in the global market.
Furthermore, North America, Europe, and some countries in Asia-Pacific and the Middle East have a high presence of disposable income among consumers. Customers' high disposable income has led to the construction of smart kitchens in their homes, which has increased demand for air fryers across the globe.
North America Held a Considerable Share Owing to the Rising Commercial Sectors
Upon the geographical presence, North America held a significant share of the market, owing to the high dependence of the population on junk foods. The rising health awareness & high consumption of junk foods provide an opportunity for the adoption of the air fryer. The consumer could bake & fry the junk foods such as chips, meat, pastries, etc., without the usage of oil, hence making them healthy & fat-free. In addition, North America is a hotspot for establishing headquarters and expanding businesses across the globe.
Thus, expanding corporate offices & the growing industrial sector in the region would augment the demand for air fryers in the region during the forecast period.
According to MarkNtel Advisors, the leading players in the market are Kokinklijke Philips N.V, Stanley Black & Decker Inc., Breville Group Ltd. Groupe SEB, SharkNinja Operating LLC, Cuisinart, Go Wise USA, NuWave LLC, De Longhi, NeWell Brands, German Pool Group, Yedi Houseware Appliances, Midea, JoYoung, Bajaj Electricals Ltd., and Others.
Key Questions Answered in the Study