The global air fryer market size was valued at USD 718.4 million in 2019 and is anticipated to grow at a CAGR of 7.6% during the forecast period. The 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 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. 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 immersing the food in oil, frying in the air requires only a tablespoon of oil to achieve a taste and texture similar to fried foods.
Increasing demand for healthy food products and items in restaurants, hotels, and hospitals is also expected to boost the market growth. Moreover, cost effective and energy-saving products are always being a first choice among the consumers which is also pushing the market. It is estimated that the digital air fryer segment will continue its hold in the market with the largest share in 2020 which continued from last year and is expected to maintain its growth during the forecast period. 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 2020 to 2027.
The growing popularity of e-commerce sites, such as Amazon, Alibaba, Flipkart, etc., is the key factor in boosting online sales of these equipment. Europe contributes the largest share in the global air fryer market in 2019. It is estimated that it will be further expected to project a substantial growth rate in the global market during the forecast period. This is due to rising health awareness coupled with the continuous increase in demand for deep fryers. This appliance has numerous benefits that have attracted the 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.
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The air fryer cooks ingredients from all angles, without the need for oil. Ultimately, this produces healthier and better foods than most fryers and saves the consumer from the unwanted smell of fried foods. To ensure that customers make the most of their appliance, most of the fryers are accompanied by a recipe book to help you get started immediately on your journey of fast but healthy food preparations. The appliance is equipped with sturdy plastic and metallic material, in which, multiple dishes can be cooked at once. Consumers can avoid risks with the fryer's heat by wearing kitchen gloves while changing the positions of the fryer and also placing the appliance in areas that are out of the reach of children. The appliance can be bulky, although its dimensions are thinner than most fryers and can hardly take up counter space.
Compared to different fryers, air fryers are designed to function specifically without fatty oils and to produce foods including up to 80% less fat than foods cooked with other types of fryers. The usage of these appliance can help consumers to lose weight. The fryer can also roast, bake and boil food. All these advantages are helping the market growth of this kitchen appliance.
In the current scenario, there is an increase in the demand for smart deep fryers in the global market, which gives technology experts customers a new reason to buy this product. Although smart fryers are marketed at high prices, manufacturers see this segment as an opportunity to create a foothold in the near future. Though, there are some established players with a solid distribution network in various regions. Major companies are strengthening their position by continuously spending in research & development to find solutions that meet customer requirements.
However, the large active population and a large number of people in the middle-class group prefer healthier food options. The air fryer is the most modern method to prepare less fatty foods. Most of the small consumer demand for small appliances originated in people who prefer the most recent and technologically advanced products. Besides, greater product availability and greater awareness about small appliances with smart demand units.
The global market is driven by growth in individuals who pick nourishment without oil, to confine cholesterol levels. Besides, an expanding discretionary cash-flow of clients, technological innovations in the product are key factors that drive the growth. The greatest challenge that affects the development of the air fryer market is the moderate cooking time when contrasted with ordinary frying. Air fryers take more time frying, for instance it requires at least 15-20 minutes, while traditional method requires roughly 8-10 minutes. Like a traditional frying pan, a fryer ought to be warmed for a few minutes before utilizing it. The more slow cooking time of an air fryer is a challenging factor for the market growth. Moreover, air fryers utilize more electric power as compared to other similar appliances. Longer cooking time is the reason to expand more electricity, in this way, high power utilization is another factor that can obstruct the development of the fryer market.
The market is primarily segmented on the basis of product type, distribution channel, and geographic region.
By Product Type
By Distribution Channel
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The digital products segment had the largest share in the market in 2019 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 panel 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.
The offline distribution channel was the leading segment in 2019. 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 from 2020 to 2027. 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 the key factor in boosting product sales through online channels. 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.
The European region contributed the largest share in the global air fryer market in 2018. 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 at the fastest CAGR from 2020 to 2027. 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.
The main global players are focusing on strategic collaboration and partnerships to improve their products and services in the future. Also, companies are focusing on increasing their customer base to strengthen their market position and improve product and service offerings. The key players in the 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.