Air Fryer Market: Current Analysis and Forecast (2024-2032)

Report Description

Air Fryer Market Size & Forecast

The Air Fryer market was valued at approximately USD 1 Billion in 2023 and is expected to grow at a robust CAGR of around 7.4% during the forecast period (2024-2032) owing to the increasing consumer demand for healthier cooking options, convenience, and technological advancements in kitchen appliances.

Air Fryer Market Analysis

Air fryers are kitchen appliances that use convection to cook food by circulating hot air. It is accessible in manual and digital formats. A manual air fryer is a type of analog air fryer with two dials for time and temperature, as well as indicator lights to show when the unit is turned on and preheated. A digital air fryer is a type of automatic air fryer that has a digital control panel with an LCD screen and a touchpad. The digital model allows the user to program timers without having to reset them. The growing demand for air fryers can be attributed to the increasing health consciousness and awareness about following a healthy diet globally. In addition, the rising demand for low-oil-cooking appliances makes it necessary for a key player to offer novel functional features.

Furthermore, the air fryer market is anticipated to grow on account of the growing health awareness among the young demographic, along with the rising awareness regarding the negative effects of the consumption of oily food. However, some of the restraints in the market, including the long cooking hours required to cook the food properly due to which high electricity is consumed are impeding the growth of this market all over the world.

Air Fryer Market Trends

This section discusses the key market trends influencing the Air Fryer segments as identified by our research experts.

Digital Segment Transforming Industry

The digital segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe owing to increased demand for automatic cooking appliances in developed countries. Digital air fryers are equipped with new features such as LCDs, temperature sensors, flexible thermostat controls, and multiple cooking modes such as max crisp, air fry, air roast, air broil, bake, reheat, and dehydrate. Such features facilitate convenience and drive demand.

North America Dominated the Market in 2023

High consumer awareness for healthy kitchens and increased demand for low-oil frying solutions are the key factors that are driving the growth of the air fryer market in North America. Thus, consumers are opting for air fryers as the appliance is focused on the aspect of health and can fry foods with less amount of fat. Further, the rising trend where most people in urban areas have embraced busy lifestyles has also driven the demand for convenient easy-to-use kitchen appliances. Other factors include the improved technological features as reflected by digital touch screen, pre-set cooking mode, and increased cooking capacities among others. Smart kitchen devices especially devices that are currently in trend and increasing ASKIs across the region catalysts driving the market growth.

Air Fryer Industry Overview

Air Fryer is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Koninklijke Philips N.V, BLACK + DECKER, Breville Pty Ltd, GoWISE USA Services, SharkNinja Operating LLC, Bajaj Electricals Ltd, Domu Brands, Group Taurus, Newell Brands, and De’ Longhi Appliances S.r.l.

Air Fryer Market News

For instance, in 2024, Xiaomi introduced the Xiaomi Air Fryer 6L, 2 years after the launch of the 3.5-litre model in India. In addition to the larger capacity, the new model also has a new Touch Control Panel that has 6 pre-set quick recipes, and an option to set temperature and timer manually while retaining the OLED display.

Air Fryer Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Air Fryer can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Air Fryer Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Air Fryer market were the three major steps undertaken to create and analyze the adoption of Air Fryer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Air Fryer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Air Fryer market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Air Fryer, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as application, payment mode, end-user, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Air Fryer market. Further, we conducted factor analysis using dependent and independent variables such as application, payment mode, end-user, and Air Fryer regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Air Fryer market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Air Fryer market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

The industry’s market size, in terms of revenue (USD) and the adoption rate of the Air Fryer across the major markets domestically

All percentage shares, splits, and breakdowns of market segments and sub-segments

Key players in the global Air Fryer in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Air Fryer. Data was split into several segments and sub-segments after studying various parameters and trends in the application, payment mode, end-user, and regions of the global Air Fryer market.

The main objective of the Global Air Fryer Market Study

The current & future market trends of the global Air Fryer were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Air Fryer market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of application, payment mode, end-user, and regions.
• Define and analyze the regulatory framework for the Air Fryer
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Air Fryer market for the major regions.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Air Fryer market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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