Global Air Fryer Market - 2023-2030

Market Overview

Global Air Fryer Market reached US$ 1.1 billion in 2022 and is expected to reach US$ 2.0 billion by 2030, growing with a CAGR of 8.8% during the forecast period 2023-2030.

It gained traction due to its ability to produce crispy and delicious foods with minimal oil or fat. Manufacturers are continuously improving air fryer technology, enhancing features such as precise temperature control, intuitive digital displays, programmable settings and pre-set cooking functions. Some advanced models also incorporate smart connectivity for remote control and recipe suggestions.

Digital air fryers hold a significant share, covering /3rd globally and are expected to show substantial growth in the forecast period. The development of digital air fryers is due to their advanced features, easy handling and better efficiency than manual air fryers

Market Dynamics

Rising Health Consciousness

The rising health consciousness and the desire for healthier cooking alternatives have fueled the demand for air fryers. According to a 2021 blog release by a chocolate manufacturer, The Hershey Company, 78% of consumers believe that cooked meals are the key to healthy eating and 60% of consumers globally believe that consuming nutrient-dense foods is essential to remaining healthy.

These appliances provide a solution that allows consumers to enjoy the taste and texture of fried foods while reducing oil consumption and promoting healthier eating habits. The growing shift toward adopting a healthier lifestyle has encouraged key players to invest in the air fryers business.

For instance, In 2017, Tovala introduced their smart oven and meal delivery service, which streamlines meal preparation to just one minute of practice and scanning a QR code. Additionally, the company launched its second-generation kitchen appliance, for Tovala Smart Oven Air Fryer, in 2023, which gives all the functionality of the prior Smart Oven Pro with the additional benefit of sophisticated convection cooking.

High Product Cost

The high cost of air fryers makes them less competitive compared to other cooking appliances or methods that provide similar results. Consumers may choose alternatives like convection ovens, toaster ovens, or traditional deep fryers that are often more budget-friendly. The competition from cheaper alternatives can impact air fryers' market share and growth.

Furthermore, the high cost of air fryers can slow down the product's market penetration and adoption rate. Consumers interested in trying out air frying or curious about its benefits may be hesitant to invest in an expensive appliance. Lower market penetration can limit the overall growth potential of the air fryer market.

COVID-19 Impact Analysis

COVID-19 initially sparked a surge in demand for air fryers, it's important to note that market dynamics can shift as the situation evolves. For instance, the closure of restaurants and limited dining-out options prompted a shift towards at-home dining. It created a need for kitchen appliances that could help recreate restaurant-style dishes.

Air fryers gained popularity as they allowed individuals to prepare crispy and flavorful foods, including fries, chicken wings and other fried favorites, in the comfort of their own homes which acts as a positive growth factor for the market. However, the supply chain disruption and less customer investment in secondary items have reduced the overall global revenue of the air fryers market during the pandemic phase.

Segment Analysis

The Global Air Fryer Market is segmented based on type, distribution channel, application, and region.

Rising Demand For Low Cost, Easy Application And Wide Availability Of Air Fryers

Manual air fryer holds a significant share of the global air fryer market. The easy availability of manual air fryers is a major factor contributing to the market growth. Manual air fryers are widely available from various brands and manufacturers. Their dominance in the market is partly due to the extensive range of options and price points offered by different companies. Consumers have ample choices regarding manual air fryers, making them readily accessible.

Furthermore, manual air fryers have been in the market for longer and have gained significant market penetration. Many consumers have become accustomed to the functionality and reliability of manual models, leading to continued demand and market dominance.

Geographical Analysis

Asia-Pacific's growing technological advancements and increasing shift towards a healthier lifestyle.

The Asia-Pacific air fryer market is witnessing robust growth driven by increasing health consciousness, changing lifestyles, technological advancements, and online shopping convenience. As consumers in the region continue to prioritize healthier cooking methods and seek convenient kitchen appliances, the demand for air fryers is expected to increase further in the coming years.

Furthermore, the Asia-Pacific air fryer market is highly competitive, with local and international manufacturers vying for market share. Key players in the market focus on product innovations, expanding their product portfolios and catering to the specific preferences and needs of consumers in the region. The competitive landscape has contributed to the overall growth and development of the air fryer market in Asia-Pacific.

Competitive Landscape

The major global players include: Koninklijke Philips N.V., Avalon Bay, GoWISE USA, De'Longhi America Inc, Tatung Company of America, Inc., Groupe SEB's (Krups), Bajaj Electricals Limited, Meyer Corporation, Pigeon Corporation and American Micronic Instruments.

Why Purchase the Report?

• To visualize the Global Air Fryer Market segmentation based on type, distribution channel, application, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous Air Fryer market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Air Fryer Market Report Would Provide Approximately 61 Tables, 59 Figures And 210 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies