The global air fryer market was valued at USD 972 million in 2023 and grew at a CAGR of 8% from 2024 to 2033. The market is expected to reach USD 2098.48 million by 2033. The increasing health consciousness globally will drive the growth of the global air fryer market.  Today's population chooses products that offer convenience. People are busy with their personal lives, and an air fryer helps them take time out for themselves. Its controls are very easy, so operating it is no problem. Nowadays, technology has become so advanced that consumers do not have to exert much effort. For example, an air fryer has many features, such as digital controls, smart connectivity, and pre-programmed cooking modes.

Market Introduction:

An air fryer is called an air fryer convection oven. It is a countertop device that prepares crispy and golden-fried food without the need for an oil-filled pot or pan. Air fryers work best for steaming and cooking vegetables to add flavour to the plate. They are also used to cook less fat proteins. Air fryers cook fresh meals, including chicken, steak, pork chops, fish, and vegetables. All that's needed to be added is a small amount of salt and preferred herbs and spices. Air fryers Use Less oil, which makes an ideal choice for health-conscious consumers to prepare and consume their favourite meals without guilt. It offers a Hygiene. The food or meal turns out Crunchy and Crispy. It also retains the Nutrients. Air fryers are Easy To Clean, store and maintain. Foods cooked in an air fryer using convection heat have a crispy, browned exterior and a juicy, soft interior. Compared to deep frying or conventional oven roasting, cooking using an air fryer is faster and less messy. Air-frying is a healthier substitute for deep-frying in terms of fat and calories. Compared to conventional cooking methods, the cooking time is greatly decreased since the hot air circulation cooks food quickly. It also uses less fat and is simple to use and clean. Reducing fat consumption enables individuals to achieve their weight loss goals while enjoying their favourite dishes. An air fryer is also a safe home appliance. Since its inception, the air fryer has received positive consumer feedback, which has increased its popularity. With the help of the air fryer, people who avoid deep-fried food for their health have started eating it again. Its special feature is that it is cooked in almost no oil.

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Recent Development

• Midea's New Two-Zone Air Fryer Oven, Adding to Its Kitchen Portfolio, Provides Innovative Design and Convenient Features in a Compact Size. With the Midea 11QT Two-Zone Air Fryer Oven, you may cook a main and a side dish simultaneously or two completely separate meals.   Use the Sync Finish feature to automatically coordinate the cooking periods of both zones so that all food is cooked at precisely the same time when preparing a full dinner in both cooking areas at the same time. This feature makes cooking distinct dishes easy and convenient, regardless of the settings, time, or temperature needed.

Market Dynamics:

Drivers

The increasing health consciousness globally – the increasing incidence of chronic illnesses, given the lifestyle changes associated with increased consumption of deep-fried and processed food, has forced consumers to make healthier lifestyle choices. Air fryers are becoming increasingly popular healthier alternatives/options to cook meals with less oil to reduce fat consumption among users. The wide range of products offered in the market that enable consumers to cook, roast, bake, steam and grill their favourite meals is also augmenting the market's growth. The easy-to-use, maintain-safe, and versatile features of air fryers, making them flexible for use by anyone from students to the elderly, are driving their demand in the market. Therefore, increasing global health consciousness will drive the global air fryer market's growth.

• As the name implies, Hafele's NOIL Air air fryer uses very little or no oil to prepare meals. With a single touch, eight pre-programmed recipes are included with this NOIL air fryer. With these pre-sets, the user can quickly choose the preferred program without having to take their time making multiple choices. Additionally, the air fryer allows customers to adjust the temperature and time to best fit their unique recipes. Using 90% less fat, the clever Rapid Air Technology automatically modifies the temperature to cook crispy and soft food on the exterior. A frying basket with an aerodynamic design is built into the air fryer to guarantee consistent frying.

Restraints:

The high cost of air fryers – air fryers are expensive, and this is the primary reason that will restrict its market growth. Furthermore, it is not ideal for big families as it offers limited capacity. Furthermore, there are apprehensions about air-fried food amongst professionals, which adds to consumers' scepticism when it comes to buying these products. Additionally, air fryers do not work with some foods, and the food might turn out dry. Therefore, the high cost of air fryers and a few other concerns will limit the market's growth.

• With the debut of its "What's new on the menu" campaign, Philips Airfryer dispelled the myth that it can only be used for making Indian cuisine. The ad highlights how adaptable appliances are in Indian settings and features a range of classic, common recipes that can be skillfully and simply made with a Philips Airfryer. The three films in the campaign centre on some of the most common ingredients found in modern kitchens, like "besan" (chickpea flour), chicken, and readily available vegetables like "gobi" (cauliflower), and how Philips Airfryer can transform them into delectable recipes.

Opportunities:

Product innovation – the rising popularity of air fryers has encouraged household appliance manufacturers to increase research and development expenditure towards creating innovative air fryers. For instance, market players are integrating artificial intelligence to analyse cooking and offer a better experience to consumers. The introduction of pre-defined cooking settings for standard meals is making lives easier. Additionally, the introduction of clear and transparent air fryers so that consumers can look at their food while they are processing is gaining traction and increasing the popularity of air fryers in the market.

• The newest Philips air fryer from Versuni, formerly known as Philips Domestic Appliances, has a see-through cooking glass. The air fryer is 6 litres in capacity, has 1700 watts of power, and has an 80-inch chord. The fryer's interior is composed of stainless steel, while its exterior is composed of plastic. Users of the air fryer may fry, bake, grill, roast, dehydrate, toast, defrost, and reheat food with its 14-in-1 culinary functionality. This air fryer's see-through cooking window makes it special. The smart appliance also has a digital touch display and an easy-to-use touchscreen with seven presets. Users can also download the NutriU app to their tablets and smartphones to access new recipes.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global air fryer market, with a 38% market revenue share in 2023.

The rising awareness about health and the importance of eating nutritious food has increased the demand for air fryers. The growing use of air fryers by residential users is also rising, given its increasing adoption by social media influencers. Even professionals in the food industry are endorsing air fryers as a healthier alternative to cooking food. They offer dishes, meals and other cooking tips that will work well with air fryers. The availability of air fryers across retail stores also augments the market’s growth.

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• Gourmia, a company known for making space-saving kitchen equipment like foldable travel kettles and small indoor grills, has recently released the Fry 'N Fold Digital Air Fryer. With its extra-large square seven-quart glass basket, this nesting design air fryer folds away to about half the size of a standard air fryer. The Gourmia Fry 'N Fold Digital Air Fryer simplifies the process of baking, roasting, boiling, dehydrating, and air-frying food without using any oil. Home cooks may monitor their food to ensure it is cooked perfectly because of the appliance's glass basket, which is resistant to breakage.

Product type Segment Analysis

The product type segment is divided into manual and digital. The digital segment dominated the market, with a market share of around 61% in 2023. A digital air fryer has a digital touchscreen and LED display, offering control panel access. The control panel offers various functions apart from adjusting the temperature and time. Digital air fryer is easy to use and comes with pre-defined, convenient functions. Digital air fryers include a large number of pre-programmed cooking options. The tech-savvy generation of the modern world prefers digital air fryers over manual ones, and thereby, the demand for the digital segment is bound to increase during the forecast period.

• The major kitchen appliance brand in VeSync Co., COSORI, has announced the release of its 6-Quart TurboBlaze Air Fryer. With its nine cooking settings, this sophisticated and adaptable air fryer can meet nearly every cooking requirement. This next-generation air fryer is up to 46% faster than the previous model and produces consistently excellent, even, and efficient frying results. It is the first air fryer with a DC motor. The 6-quart TurboBlaze Air Fryer is a multipurpose kitchen appliance used for air frying, roasting, baking, broiling, dehydrating, freezing, proofing, reheating, and warming.

End-user Segment Analysis

The end-user segment is divided into residential and commercial. The residential segment dominated the market, with a market share of around 54% in 2023. The rising awareness about food and nutrition has gradually shifted consumer demands towards healthier food. Air fryers are becoming increasingly popular among consumers as a healthier alternative to cooking food with less oil and reduce fat consumption. The growing social media influence with the increasing visibility of air fryers used by food bloggers, chefs or cooks is augmenting the market's growth. The availability and accessibility of air fryers are also increasing, given the increasing number of market players offering these products through supermarkets, retail stores, and online sales channels.

• To open the first-ever pop-up air fryer restaurant in the UK, eBay teamed up with Nathan Anthony, a self-described "Air Fryer King."  This unique culinary experience honours the most talked-about kitchen hero at the time and attempts to demonstrate the worth and calibre of reconditioned technology. Fans of air fryers can anticipate a carefully selected menu of pop culture-inspired small meals, such as crispy salt and pepper squid, beef tacos, halloumi fries, and sweetcorn ribs, all of which are prepared using exclusively reconditioned air fryers from eBay. The pop-up seeks to inform consumers about the significant financial and energy savings that come with selecting refurbished kitchen appliances and the advantages they offer the environment.

Distributional Channel Segment Analysis

The distribution channel segment is divided into supermarkets/hypermarkets, convenience stores, retail stores, speciality stores, online and others. The supermarkets/hypermarkets segment dominated, with a market share of around 29% in 2023. Given their expanding global presence, supermarkets and hypermarkets are convenient consumer shopping places. With separate aisles and sections for various air fryers from multiple brands, supermarkets/hypermarkets provide customers with greater visibility, availability, choice and accessibility. Additionally, the options let customers make wiser and more informed decisions.

Some of the Key Market Players:

• Avalon Bay
• BLACK+DECKER Inc.
• Breville Group Ltd
• Conair Corporation
• GoWISE USA
• Groupe SEB
• Koninklijke Philips N.V.
• Meyer Manufacturing Company Limited
• Newell Brands
• NuWave LLC

Report Description: