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Air Fryer Market Research Report - Forecast till 2027

Air Fryer Market Research Report: Information by End User (Residential, Commercial) Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Specialty Stores], Non-Store-Based), Region (North America, Europe, Asia-Pacific, RoW) - Forecast till 2027

ID: MRFR/CR/6329-HCR | December 2022 | Region: Global | 90 Pages         

Air Fryer Market

The air fryer market size was valued at USD 1430.8 million by 2027, growing at a CAGR of 7.4% during the forecast period (2020 to 2027).

Segmentation

By End User Residential Commercial
Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Row

Key Players

  • Meyer Corporation (US)
  • Bajaj Electricals Ltd (India)
  • NuWave LLC (US)
  • Avalon Bay (US)
  • GoWISE USA (US)
  • Breville (Australia)
  • Groupe SEB (France)
  • Conair Corporation (US)

Drivers

  • A lot of momentum for commercial use
  • Air fryers owing to the convenient use ease and health benefits
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Air Fryer Market Overview


The global air fryer market is set to witness growth at a CAGR of 7.4% and top a valuation of USD 1430.8 million by 2027. With the rising trends of modular kitchens and appliances, people are opting for convenient products like air fryers. Hence, the Air Fryer Market trends are likely to expand, and the market is expected to grow at a Significant CAGR rate during the forecast period.


An air fryer is ab electric appliance and a major part of modular kitchens. The functioning of the air fryer is easy as it cooks food with the help of hot air circulation in the basket with the help of a fan that draws the working from the convection mechanism. All the people who love fried food but have to ignore it due to health concerns and weight issues. Air Fryer Market are gaining excellent momentum as a healthy replacement for the traditional methods of eating fried things. Apart from baking the fried food items, air fryers have a wide application and also helps in baking, roasting, and grilling various food items. Because of the pandemic, the lifestyle changes of people and hence, the demand for air fryers is increasing many folds during the ongoing forecast period.


COVID 19 Analysis


The novel coronavirus is a public emergency that is targeting healthcare services and departments of various economies across the globe. Being communicable, this disease has a very high transmission rate and the continuous waves of the pandemic with deadlier versions are harming the global markets. The air fryer market has also been negatively impacted by the pandemic. The decreased demand and unawareness are the major factors due to which, the market is witnessing slow growth. The government has imposed restrictions and lockdown due to which, people are stepping out for the bare minimum. Also, this has affected the purchasing power of people which is pushing them to cut down the modern expenses.


However, the advancements of Air Fryer Market are pushing the market’s demand and the prominent market players are producing and manufacturing these on a large scale. Also, the lifestyle changes and preferences of people will help the market cover the losses and stagnant demand during the pandemic. Also, the government is coming up with initiatives to help the market grow. The rise in investment in the research and development sector also has positive attributes for the global growth of the market during the forecast period that ends.


Market Dynamics


Drivers


Air Fryer Market are gaining a lot of momentum for commercial use. The growth of the population is excellent for business as it will initiate demand and hence, push for a large-scale supply. The Census Bureau of the US Department of Commerce predicts a higher rise that will vouch for the demand for air fryers owing to the convenient use, ease, and health benefits. Hence, the produces are investing in the production of larger fryers to serve the audience’s needs. 


Restraints


One of the major restraints that are challenging the global growth of the Air Fryer Market as per the prediction is that is available for a considerable price in the market. Also, lack of consumer awareness about the advantages and application are major restraints for the market on the path of its growth during the period.


Technology Analysis


The air fryers present many kinds of beneficial features and advantage. The most prominent one of them is that these fryers go low on oil utilization. Hence, health-conscious customers are also investing their money in buying this kitchen appliance. The air fryers are being used for both residential and commercial use. People are witnessing an increase in their disposable income post covid and hence, they can comfortably invest in modular kitchen appliances. Residential use of Air Fryer Market is witnessing a major hike owing to the ease of operation and quality being offered without compromising on the food quality. Also, the restaurants and cafes are increasing, and to fulfill the orders to multiple clients in a single gay, the hospitality sector is also largely investing in buying air fryers.


Study Objectives



  • To study the forecasted growth of the Air Fryer Market during the forecast period based on the market overview and dynamics like opportunities and restraints

  • To study the scope of the market across various economies across the globe by having an idea about the functioning of the market segments and their revenue models in these regions

  • To study the market functions and their attempt to cover the losses that have been incurred by the market during the pandemic period

  • To have the Air Fryer Market insights and deep analysis of the competitive market players, their key strategies for growth, and their recent developments during the forecast period


Segment Overview


The report helps in understanding the market functioning through its segments across major locations of the world. Also, the Air Fryer Market segment performance is likely to affect the investment decisions and hence, for the same, it is important to have an idea about the revenue potential and production demand which each of these segments holds. The segments are as follows:


Based on the market end-users


The air fryer market has its target end-users in the form of the residential and commercial markets.


Based on distribution channels


The Air Fryer Market players use various distribution channels like store-based and non-store-based vertices. The store-based market has further been segmented into specialty stores, hypermarkets, and supermarkets to reach consumers.


Based on the global regions


Based on the demand for air fryers across various industry vertices, the market is rendering its services in 4 major geographies of the world namely the APAC region, the North American market, the European nations, alongside the rest of the world (RoW).


Regional Analysis


Based on the demand of customers spread across the various global locations, the trends reflect that the North American region is likely to have domination over the global market operations. The main reason which is acting as a driving force for the market is the rising adoption of the product for both commercial and domestic purposes. People are taking their health more seriously and the rise in awareness related to the convenience offered by air fryers will help the market trends soar high during the forecast period. The APAC region is also expected to undergo substantial gains and is expected to grow at the highest CAGR rate by the end of the forecast period.


Competitive Landscape


The key market players that help in the Air Fryer Market competitive analysis are as follows:



  • Koninklijke Philips N.V. (Netherlands)

  • Rosewill, Inc. (US)

  • Meyer Corporation (US)

  • Bajaj Electricals Ltd (India)

  • NuWave, LLC (US)

  • Avalon Bay (US)

  • GoWISE USA (US)

  • Breville (Australia)

  • Groupe SEB (France)

  • Conair Corporation (US)


Recent Developments



  • During the historic forecast period that ended in 2019, nearly 10 million air fryers were sold by the manufacturers that are functioning in the US region of North America. Owing to festivities and the urge to munch something baked and healthier, the population is soaring high on the global demand for air fryers. This is likely to play an important role and help the domestic North American market to dominate the global growth.

  • Due to the availability of huge employment opportunities for the European population, the disposable income of people is rising. This is having a positive impact on the purchasing power of people and in some cases, it is increasing. People are investing in kitchen appliances and air fryers is one of them whose demand is likely to have a substantial growth by the end of the forecast period.

  • The changing lifestyle and awareness amongst people for baked and healthier food items in the APAC region is pushing them to invest in appliances that offer a good value for money. Hence, the APAC region is likely to become an epicenter for growth and the region will dominate the global Air Fryer Market growth during the forecast period.

  • Due to the pandemic, people have started taking their health seriously which is making them quit fried food options, and to calm their cravings, they are investing in commercial air fryers. Also, the population is opened to using appliances that are easy, convenient, and also have qualitative functioning for a long time. The global players are innovating the development process of these which is staggering a great demand for the products.


Intended Audience


Traders of the air fryers in the domestic market



  • Importers and exporters

  • Retailers

  • Distributors

  • Hotel owners

  • Wholesalers

  • Caterers and restaurants

  • Appliance manufacturers

  • Agencies and associations functioning on behalf of the government


Report Overview


The report discusses the Air Fryer Market scope during the forecast period by analyzing the performance of the segments and the key market players in 4 major economies of the world. The market report focuses on studying the competitive degree amongst the key market players and hence, the report includes the recent developments undertaken, as well.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1430.8 Million
  CAGR   7.4%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By End User, Distribution Channel, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Meyer Corporation (US), Bajaj Electricals Ltd (India), NuWave LLC (US), Avalon Bay (US), GoWISE USA (US), Breville (Australia), Groupe SEB (France), Conair Corporation (US)
  Key Market Opportunities   Growth of the population
  Key Market Drivers   Air fryers owing to the convenient use ease and health benefits


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Frequently Asked Questions (FAQ) :

Changes in lifestyle and hike in disposable income would inspire air fryer market growth in the residential sector.

The top players in this air fryer market are Meyer Corporation (US), NuWave, LLC (US), Bajaj Electricals Ltd (India), Koninklijke Philips N.V. (Netherlands), Conair Corporation (US), GoWISE USA (US), Groupe SEB (France), Avalon Bay (US), Breville (Australia), and Rosewill, Inc. (US).

Residential and commercial are end users included in the air fryer market.

The distribution channels involved in the air fryer market are store-based and non-store-based.

North America has the opportunity to show the way for the air fryer market.