The air fryer market is growing in sports and fitness activities and has also boosted the consumption of low-oil foods
According to Future Market Insights (IMF), the air fryer market is expected to reach $1,861.4 million by the end of 2031, growing at a CAGR of over 7% between 2021 and 2031. This is a driving influence. Offers with multi-functional cooking functions will reflect higher demand.
Advances in product features and growing consumer interest in technology-driven products have changed the small appliance industry. Therefore, manufacturers have introduced air fryers with traditional oven features. This allows accessibility benefits, saves space in the kitchen and provides greater cooking capacity.
The rapid rise of the e-commerce industry, rising consumer incomes, and advancements in smart cooking technologies are driving the growth of the market. The adoption of air fryers in the residential and commercial sectors is also a contributing factor to the growth of the market.
Busy lifestyles and the resulting demand for healthy diets have influenced manufacturers of cooking appliances. As a result, modern air fryers are designed to reduce cooking time without compromising nutrition. Moreover, the air fryer market players have invested heavily in research and development activities to improve the flexibility of cooking operations.
Growing consumer interest in energy efficiency and eco-friendly product features is expected to generate growth opportunities. Strict safety standards written by environmental regulators such as the EPA (Environmental Protection Agency) have resulted in ENERGY STAR specifications to reduce GHG (greenhouse gas) emissions, which will positively influence developments long-term.
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Key points to remember
The United States is expected to remain a top regional market owing to the strong preference for oil-free foods among health-conscious consumers.
Strong growth is emerging from the emerging economies of India, China, Saudi Arabia and Russia, driven by changing urban lifestyles.
In terms of product type, digital air fryer held a notable share in the global air fryer market owing to the consistency of food quality.
The residential sector is expected to witness steady growth in the global air fryer market over the forecast period.
Impact of COVID-19 and 2020 Market Analysis
During the COVID-19 outbreak, air fryer manufacturing companies have been severely impacted due to disrupted supply chains of raw materials and components. Lockdown restrictions have led to a short-term halt in production, while sales rebound in 2021. Air fryers are emerging as essential equipment in kitchens as there is an increasing focus on a lifestyle healthy.
The outbreak has also resulted in substantial category growth, including cleaning and hygiene products. The growth of the e-commerce sector is also having a positive influence as companies focus on expanding their distribution networks to online channels to meet growing consumer demand. However, physical retail stores have suffered from the Covid-19 lockdown period. Changing shopping habits have supported sales via e-commerce platforms, which will continue in the long term.
The report highlights some prominent players in the global air fryer market including Koninklijke Philips NV, Newell Brands, Inc., Stanley Black & Decker, Inc., Breville Group Limited, Groupe SEB, SharkNinja Operating LLC (CDH Private Equity), Cuisinart Corporation (Conair Corporation, Meyer Manufacturing Company Limited, GoWISE USA (Ming’s Mark Inc.), among others. Market players are mainly focusing on marketing campaigns to promote their products and create brand awareness among consumers with social media campaigns gaining popularity.
In July 2020, SharkNinja Operating LLC introduced the new Ninja Foodi 2-Basket Air Fryer. The fryer features a two-basket cooking system for added versatility over traditional air fryers. The air fryer’s 8-quart capacity and Dual Zone technology help the user cook two foods two ways and finish at the same time.
In 2019, Koninklijke Philips NV launched the Airfryer XXL with smart sensor technology. The technology simplifies the cooking process with unique grease removal technology, with grease captured in the bottom pan of the fryer for easy disposal. Additionally, the air fryer can bake, grill, and roast.
Product launches will remain a key strategy adopted by market players to gain competitive advantage. Air fryer market leaders are introducing products that meet customer needs.
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Air Fryer Market by Category
- Below 1200 watts
- 1200-1500 watts
- 1500-1800 watts
- 1800-2200 watts
- 2200 watts and more
- Less than $25
- US$25 – US$100
- $100 – $200
- $300 and above
- direct sales
- Department stores
- Specialty stores
- Online retailers
- Other sales channel
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Obtain valuable insights into the Air Fryer Market
Future Market Insights, in its new proposition, provides an unbiased analysis of the global Air Fryer Market, presenting demand data (2016-2020) and forecast analysis for 2021-2031. The study discloses compelling insights into the Air Fryer Market based on Device Type (Manual and Digital), Wattage (Below 1200 Watts, 1200-1500 Watts, 1500-1800 Watts, 1800-2200 Watts and 2200+), purpose (commercial and residential), price range (less than $25, $25-$100, $100-$200, $200-$300, $300+), and sales channel (direct sales, supermarket/hypermarket, department stores, specialty stores, online retailers and other sales channels) in seven major regions.
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To be continued….
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