Air Fryer Market Share, Size, Trends, Industry Analysis Report, By Product Type (Manual and Digital); By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM1709
- Base Year: 2023
- Historical Data: 2019-2023
Report Outlook
The global air fryer market was valued at USD 899.1 million in 2023 and is expected to grow at a CAGR of 7.4% during the forecast period. Product innovation strategies with improved designs are the key factor that drives the growth of this market. Besides, increasing health awareness with increasing adoption of a proper healthy diet will increase demand for the product, thus supporting market growth. An air fryer is a popular kitchen appliance that is used to prepare fried foods such as cakes, meat, and french fries.
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It works by flowing hot air around food to produce a crispy and crunchy exterior. This results in the occurrence of a chemical reaction known as the Maillard effect that occurs between an amino acid and the reduction of sugar under heat. It leads to changes in the color and taste of food. Fried foods with air are promoted as a healthy alternative to fried foods, as it comprises a low fat and calorie content. Instead of completely drowning the food in oil, air frying just requires a tablespoon to provide a texture and flavor similar to fried foods.
Increasing demand for healthy food products and items in restaurants, hotels, and hospitals is also expected to boost market growth. Moreover, cost effective and energy-saving products are always the first choice among consumers which is also pushing the market. The availability of superior products with numerous features including rapid preheating, touch screen panel, and temperature control feature, are some factors that augments the demand for digital fryers across the globe. Whereas, among the distribution channel, the online segment is expected to expand with the fastest CAGR during the projected period.
The growing popularity of e-commerce sites, such as Amazon, Alibaba, Flipkart, etc., is the key factor in boosting online sales of this equipment. This appliance has numerous benefits that have attracted consumers, which in turn, is also rising its demand across the globe. Some of these benefits include easy cleanup, low-fat meals, and hot-air circulation, among others.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Air Fryer Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
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Industry Dynamics
Growth Drivers
The increasing health consciousness among consumers has had a significant impact on the market. Air fryers are becoming increasingly popular because they offer a healthier alternative to traditional frying methods, allowing consumers to enjoy their favorite fried foods without the added fat and calories.
Air fryers use hot air to cook food, which eliminates the need for oil or other unhealthy cooking fats. This makes them a popular choice among consumers who are looking to reduce their intake of unhealthy fats and calories.
Additionally, air fryers are versatile and can be used to cook a wide range of foods, from french fries and chicken wings to vegetables and even baked goods. This versatility appeals to health-conscious consumers who want to prepare a variety of healthy meals and snacks at home.
As a result of this trend, the air fryer market is expected to continue growing in the coming years. Manufacturers are responding to the increased demand by offering a wider range of air fryer models with different features and capacities to suit the needs of health-conscious consumers.
Report Segmentation
The market is primarily segmented based on product type, distribution channel, and region.
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By Product Type |
By Distribution Channel |
By Region |
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Digital products segment had the largest share of the market in 2022
The digital products segment had the largest share of the market in 2022 due to the increased demand for automatic kitchen appliances in developed countries, such as the USA, Canada, and Germany. The digital air fryer segment will maintain its dominant position throughout the forecast years. It is also estimated that the segment will record the fastest during the forecast period. This is due to the growing demand for low-consumption kitchen appliances.
In addition, the availability of superior products with various features that include rapid preheating, temperature control knob, and touch screen panels is expected to drive the demand for digital fryers. It is also anticipated that the manual products segment will witness considerable growth in the coming years. Manual fryers are preferred due to their less price than digital products. Though, less cooking time is an important factor that can restrict the growth of the segment.
Offline distribution channel was the leading segment in 2022
The offline distribution channel was the leading segment in 2022. High product visibility and an increasing number of retail stores, such as Walmart, in emerging countries such as India and China, is the main factor driving the growth of this segment.
On the other hand, the online segment is expected to expand at the fastest annual growth rate over the projected period. The segment of the online distribution channel is expected to expand at the fastest annual compound rate from 2020 to 2027. The growing popularity of e-commerce vendors including Amazon, Flipkart, etc., is essential for increasing product sales through online platforms.
Additionally, most prominent companies have their websites, which also contributes to the growth of the segment. Besides, the different offers and discounts provided by online retailers help boost product sales.
Europe held the largest market share in 2022
The European region contributed the largest share of the global air fryer market in 2022. It is estimated that it will maintain its dominant position during the forecast period due to increasing health awareness and high demand for such health-related products.
It is anticipated that Asia Pacific will growth at the fastest CAGR over the projected period. The increase in the levels of disposable income for consumers in emerging countries along with increased health awareness is the key driving factors of the market in the region. Additionally, the presence of prominent companies, such as Prestige, Philips, and Ninja, is expected to have a positive impact on the growth of the market in the region.
Competitive Insight
Some of the major players operating in the global market include Breville Inc.; Cuisinart; DASH (StoreBound LLC); Havells India Ltd.; Koninklijke Philips N.V.; KRUPS; NuWave, LLC; SharkNinja Operating LLC; TTK Prestige Ltd.; Cuisinart; Farberware; and Wonderchef among others.
Recent Developments
- In October 2022, Havells India Limited introduced a new product called "Pro-life Luxuria" in their air fryer line, which comes with seven pre-set options for even cooking.
- In September 2022, Koninklijke Philips N.V launched a new Philips Airfryer XL Connected in India with smartphone connectivity & Amazon Alexa integration
Air Fryer Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 964.1 million |
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Revenue forecast in 2032 |
USD 1,707.96 million |
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CAGR |
7.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments Covered |
By Product Type, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Breville Inc.; Cuisinart; DASH (StoreBound LLC); Havells India Ltd.; Koninklijke Philips N.V.; KRUPS; NuWave, LLC; SharkNinja Operating LLC; TTK Prestige Ltd.; Cuisinart; Farberware; and Wonderchef among others. |
Explore the landscape of Air Fryer Market in 2024 through detailed market share, size, and revenue growth rate statistics meticulously organized by Polaris Market Research Industry Reports. This expansive analysis goes beyond the present, offering a forward-looking market forecast till 2032, coupled with a perceptive historical overview. Immerse yourself in the depth of this industry analysis by acquiring a complimentary PDF download of the sample report.
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FAQ's
The air fryer market report covering key segments are product type, distribution channel, and region.
Air Fryer Market Size Worth $1,707.96 Million By 2032.
The global air fryer market expected to grow at a CAGR of 7.4% during the forecast period.
Europe is leading the global market.
Key driving factors in air fryer market are increasing health consciousness among consumers.
