According to a new report published by Allied Market Research, titled, ” Air Fryer Market Size, Share, Competitive Landscape and Trend Analysis Report, by End User, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032.” The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The air fryer market size was valued at $1 billion in 2022, and is estimated to reach $1.9 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
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Air fryer is a kitchen equipment that prepares meals by flowing hot air around it. It uses convection technology to create a crispy coating on the outside of the meal similar to conventional frying techniques, however, with substantially less oil or fat. The appliance is a small countertop product with a heating component and a blower. Customers place their meals in a ventilated basket or on a plate within the fryer, and hot air speedily flows around the food, frying it evenly & providing a crisp texture. Air fryers have gained substantial popularity due to their capacity to generate healthy versions of classic deep-fried food products by using a fraction of the oil.
Significant reduction in the threat of acrylamide production associated with this revolutionary cooking technology is a key driver of the air fryer market growth. Acrylamide, a potentially dangerous chemical compound, generated during high-temperature cooking methods such as deep frying has become a major concern for health-conscious consumers. Air fryers use rapid hot air circulation method instead of soaking food in oil, thereby reducing the production of acrylamide as end product. The reduced acrylamide levels resolve health-related concerns as well as correspond with large initiatives to encourage safe and healthy eating practices. With large numbers of consumers becoming aware of the hazards associated with traditional frying processes, the appeal of air fryers as a healthy cooking choice is increasing. The air fryer market demand reflects an intentional move toward kitchen appliances which provide taste and simplicity as well as actively assist in minimizing health risks, thus establishing air fryers as a preferred choice among individuals seeking more secure & health-conscious culinary experience.
However, counterfeit products have emerged as key restraint to the expansion of the air fryer market. With rise in popularity of air fryers, the number of counterfeit or substandard models has increased in the market. These models frequently resemble recognized brands in appearance but lack the quality, security features, and efficiency criteria of genuine products. Consumers who purchase counterfeit air fryers inadvertently face inferior cooking results, safety concerns, and short product lifespans, hence leading to market despair and distrust. The existence of counterfeit products not only damages the reputation of established businesses but also endangers consumer safety. Furthermore, it creates a vague ambience where customers retreat from making investments in air fryers due to concerns regarding product legitimacy and trustworthiness. Therefore, the abundance of counterfeit air fryers works as a growth inhibitor by weakening consumer confidence and stifling overall market expansion.
On the contrary, the expansion of e-commerce sales channel provides a lucrative opportunity for the air fryer market to flourish. Boost in popularity of online shopping platforms has transformed consumer purchasing habits, providing a quick and accessible route for customers to research and purchase kitchen equipment such as air fryers. Moreover, e-commerce platforms offer a broad and diversified market wherein consumers are able to evaluate features, read reviews, and make sound decisions about the finest air fryer models as per their requirements. Manufacturers interact with the global audience through internet retail arena, expanding their presence in the market beyond traditional brick-and-mortar limits. Furthermore, the simplicity of online transactions, along with doorstep delivery options, increases customer convenience, thereby creating a favorable atmosphere for air fryer sales. In addition, e-commerce platforms’ capacity to offer incentives, discounts, and package deals increases consumer interest and drives the sales. The air fryer industry is well-positioned to exploit e-commerce channel as an innovative and growing avenue for market expansion as the inclination toward purchasing goods online continues to rise.
The air fryer market is segmented by end user, distribution channel, and region. On the basis of end user, the market is bifurcated into residential and commercial. According to distribution channel, the market is categorized into hypermarkets/supermarkets, specialty stores, and online channels. Depending on region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, ASEAN, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, the Middle East, and the rest of LAMEA).
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Players operating in the air fryer market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market.
𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞
• Kent RO Systems Ltd.,
• Newell Brands (Oster),
• Koninklijke Phillips N.V.,
• Bajaj Electricals Ltd,
• TTK Prestige Limited,
• Havells India Ltd,
• Taurus Group (Inalsa),
• NuWave LLC,
• Arovast Corporation (Cosori), and
• Wonderchef Home Appliances PVT Ltd.
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
• According to the air fryer market trends, on the basis of end user, the residential segment dominated the air fryer market in 2022 and is anticipated to continue the same trend during the forecast period.
• According to the air fryer market analysis, on the basis of distribution channel, the hypermarkets/supermarkets segment dominated the air fryer market in 2022 and is expected to retain its dominance throughout the forecast period.
• Region wise, North America region accounted for the highest air fryer market share in 2022 and is expected to grow at a CAGR of 5.8% during the forecast period.
𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬 𝐨𝐟 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐨𝐛𝐨𝐭𝐢𝐜 𝐋𝐚𝐰𝐧 𝐌𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭
• In November 2023, Wonderchef Home Appliances Pvt. Ltd. opened Kent RO Systems Ltd., Newell Brands (Oster), Koninklijke Phillips N.V., Bajaj Electricals Ltd, TTK Prestige Limited, Havells India Ltd, Taurus Group (Inalsa), NuWave LLC, Arovast Corporation (Cosori), and Wonderchef Home Appliances PVT Ltd.an exclusive store in India in Mumbai, Malad to offer more products and increase its customer base.
• In October 2022, TTK Prestige Limited launched its first multi-category exclusive flagship store in Shakti Nagar, Udaipur, India. The store will offer a wide range of 700 products across 27 categories.
• In January 2021, Taurus Group began the construction of a new operations center in Oliana (Alt Urgell) to strengthen its international strategy and consolidate Oliana as a logistics hub to supply the European market.
𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐑𝐞𝐯𝐢𝐞𝐰
Leading players in the air fryer market are providing customized solutions to improve kitchen aesthetics along with continuously striving to introduce innovative products to enhance their market reach. In addition, leading manufacturers are introducing energy-saving illumination and maintenance-free, highly efficient air fryers to attract large segments of consumers. Moreover, warranty and services play an important role in long-term customer engagement and retention. Therefore, upsurge in personalized discounts and offers is luring the customers. While discounts and offers have always been in tradition, providing specific offers according to demography remains a major challenge for engaged stakeholders in the industry.
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