Market Definition
An air fryer is a small countertop convection oven that simulates deep frying without soaking the food in oil, making the food crispy & tempting according to the consumers' taste. It uses a fan for circulating hot air around the food released from the heating element inbuilt into the device, which leads to deep frying of the food item. The device eliminates the need for oil in frying & has become an important appliance for health-conscious consumers.
It is commonly used in households, hotels, restaurants, corporate offices, and other spaces to serve fried & crunchy food to individuals. It's mostly used to make fried foods like meat, pastries, potato chips, freshly baked cookies, and others. Moreover, these fryers are being used exclusively in residential and commercial settings, replacing traditional deep fryers across the world, inflaming the growth of the Air Fryer market.
Market Insights
The Global Air Fryer Market is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2023-28, owing to the surging transition of individuals towards healthier eating & cooking habits. Consumers have been avoiding oil-based dishes, such as fried food, to reduce the prevalence of obesity, diabetes, peripheral artery disease, high blood pressure, and stroke. The high content of saturated fat in the oil has been the major factor causing these diseases.
According to the Global Burden of Disease Study, in 2019, high blood sugar & obesity have been the leading cause factors for human deaths, as nearly 10.85 million death occurred due to high blood pressure & around 5.02 death due to obesity. Thus, there has been a significant increase in the number of fitness enthusiasts, bodybuilders, and athletes worldwide who prefer oil-free diets for lowering cholesterol & avoid getting obese.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 8% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: Saudi Arabia, The UAE, Turkey, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled | Kokinklijke Philips N.V, LG Corporation, 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., Others |
| Unit Denominations | USD Million/Billion |
The surge in the health awareness & wellness trend on social media, blogs, and websites that promote low or no-oil-based foods & associated benefits have also driven the demand for these fryers during the historical period and in recent years. Additionally, the increase in the spending of consumers purchasing home appliances of modern technologies has subsequently led to the growth in the demand for these fryers. This has been attributed to the population's rising disposable income and a preference for kitchen remodeling in households.
Moreover, the busy lifestyles of consumers such as working professionals & students have positively impacted the market, as these consumers prefer using these devices for fast cooking and to save time. Technological development, like LED screens, intelligent sensors, touchpads, etc., have been contributing to the sales of as it improves accessibility & time-saving functionalities. Hence, the trend of living an active lifestyle & consuming low calories food is estimated to prevail in the forthcoming years, boosting the Global Air Fryer market.
Key Trends in the Market
The rising trend of purchasing digital air fryers has been witnessed among citizens across the globe. Consumers benefit from these fryers that include LCDs, temperature sensors, flexible thermostat controls, and other features, which increase demand across the globe. Furthermore, the availability of multi-cooking modes in these fryers such as max crisp, air fry, air roast, air broil, bake, reheat, and dehydrate would drive demand for during the forecast period. As a result, most manufacturers, including Havells, Inalsa, Kenstar, and others, have been producing digital air fryers to meet global demand.
Market Segmentation
Based on Product Type:
Of them all, the Cylindrical Basket air fryer would grow at a considerable rate during the forecast period due to the presence of a detachable basket in the device. The detachable basket can be used as a utensil as well for household purposes. The presence of a basket eases the tossing of the food materials, which keeps the food safe from sticking & burning. The detachable basket also eases the cleaning, which has attracted customers on a large basis owing to its structural features. It has also gained prominence in the market due to its less time-consuming ability for frying the products as the hot air present in it circulates upside down, thereby cooking the food.
Moreover, the cylindrical basket air fryer is available in small sizes in the market which led to its greater adoption among individuals and nuclear families. The size compatibility also keeps the heating of the kitchen in control and thus, acquired a significant share in the market.
Based on End User:
Of them, the Household acquired a notable share in the Global Air Fryer market and is poised to grow at a higher rate in the coming years due to the surging inclination of consumers toward the consumption of oil-free foods in their daily lives. Individuals have been more health conscious in preventing overweight and obesity. In addition, the adoption of oil-free products has also been able to prevent various serious diseases, such as cardiovascular diseases like peripheral arterial disease, Aortic disease, and strokes.
Furthermore, changing lifestyles & higher disposable incomes are also contributing to the demand for them among individuals. Digital/electronic offerings are becoming increasingly available to domestic consumers. Due to the slow cooking & limited usefulness of traditional kitchen appliances, homeowners are increasingly seeking technologically advanced & intelligent kitchen equipment to improve kitchen aesthetics.
Thus, the surging inclination of the population towards the consumption of healthy & oil-free products supported by the rising trend of easy cooking due to advanced technology would enhance the market throughout the forecast period.
Based on Distribution Channel
Among the three, the Online Sector would attain considerable growth in the Global Air Fryer market during the forecast period, 2018-28, due to the surging popularity of e-commerce vendors such as Amazon, Flipkart, Alibaba, and others. Online websites have gained popularity among global customers owing to the wide collection of products of different brands & varieties. In addition, the online websites provide a wide range of discounts & offers to the customers, which has led to an increase in the share of the online platform in the market.
Along with this, online websites also provide various features such as free delivery at your doorstep, prime membership, exchange facility, and many more. Moreover, the inclination of the manufacturing companies towards their websites for selling air fryers would positively drive the market during the forthcoming years.
Regional Landscape
Geographically, the market expands across:
Of all the regions globally, North America acquired a major share of the market during the historical years and is projected to follow the same trend in the future due to the surging application in various sectors such as residential & commercial, including hotels, restaurants, hospitals, and others. The rise in the busy lifestyles among the citizens has led to the increasing adoption of smart kitchen devices & modular aesthetics in the region. The growing corporate professionals in the country, owing to the establishment of various companies & startups, have been fueling the demand for air fryers in the region.
Additionally, it is estimated that demand for these fryers would continue to grow steadily during the forecast period due to the high disposable income among the citizens & growing commercial sectors across North America.
Recent Developments by Leading Companies
Market Dynamics:
Key Driver: Rising Health Awareness Among Individuals
In recent years there has been a surge in the popularity of air fryers, owing to rapid urbanization & constantly changing lifestyles, which has increased health concerns, such as obesity, high/low blood pressure, etc., among individuals. This has led to a rise in health awareness among individuals, allowing them to adopt mindful cooking habits & transition to healthier cookware options.
Moreover, post-2020, there has been a rise in the health & wellness trend due to increased internet browsing. Social media played a very triggering role in the growth of the market, as it extensively promoted no or low-oil-based cooking habits & the benefits associated with it. Thereby also mentioning the use of air fryers instead of traditional fryers.
Hence, this had a psychological impact on the consumers to opt for conscious cooking habits, thus maintaining a good & healthy lifestyle regime, further enhancing the demand during 2018-28.
Growth Restraints: Surging Prevalence of Counterfeit Products in the Market
Historically, the rising trade of counterfeit products around the world has been a constraint for the Global Air Fryer market. This is due to an increase in the number of counterfeit manufacturing companies all over the globe. According to the World Customs Organization (WCO), counterfeit products account for 7-9 percent of global trade. The prevalence of these practices has been seen primarily in online product purchases, where suppliers directly supply the products to customers without an appropriate verification process. As a result, the global counterfeiting process has limited the overall revenue of the market.
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Frequently Asked Questions
A. The Air Fryer Market is projected to grow at a considerable CAGR of around 8% during 2023-28.
A. The household is anticipated to emerge as a leading segment in the market during the forecast period.
A. The rising awareness among the population across the globe would serve as an opportunity to drive the Air Fryer Market through 2027.
A. 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 are the top players in the Air Fryer Market during 2023-28.
A. North America region is anticipated to dominate the Air Fryer market during 2023-28.
A. The Surging Prevalence of Counterfeit Products across the globe is the possible restraint affecting the growth of the Air Fryer Market during 2023-28.
