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Report
Air Fryers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The global air fryer market generated a revenue of over USD 1.2 billion in the current year and is anticipated to register a CAGR of more than 5% for the forecast period.
Air fryers circulate hot air to cook the food, similar to a fan oven, and rely on a chemical process known as the Maillard reaction to crisp up the exterior of food, with tasty results. High demand from restaurants, hotels, and hospitals is expected to boost the market growth. Moreover, the high demand for energy-efficient products is expected to have a positive impact on market growth. Additionally, an inflow of new competitors and private label brands were entering the market, raising the level of competition.
Many different types of people have started using air fryers, including families trying to use less oil and health-conscious people and working professionals looking for quick supper options. Apartment dwellers and households with fewer members were drawn to air fryers because of their modest size and adaptability.
COVID-19 impacted the air fryers market. The pandemic has accelerated the adoption of digital and remote research technologies. Many businesses have had to pivot to virtual research methods due to social distancing measures, and this has highlighted the importance of having flexible and adaptable research technologies in place. Post-COVID the market witnessed a huge growth as people became more health-conscious.
Air Fryers Market Trends
Digital Air Fryers are Dominating the Market
Digital air fryers feature LCD panels, temperature sensors, programmable thermostat settings, and a variety of cooking modes, including max crisp, air fry, air roast, air broil, bake, reheat, and dehydrate. Such features improve convenience, which raises demand. The manual air fryer, on the other hand, only has grills and standard frying settings. Therefore, in order to ensure product innovation and global market sales, the majority of producers are concentrating on digital air fryers.
Commercial Segment is Dominating the Market
Due to lifestyle changes and higher disposable incomes, there is a surge in demand for air fryers among residential end users. The availability of electronic and digital offerings for domestic consumers is increasing in the market. In order to improve kitchen aesthetics, homeowners are increasingly seeking technologically advanced and intelligent kitchen equipment due to slow cooking and the restricted usefulness of traditional kitchen appliances. The commercial segment of air fryers is on the upper hand over the residential segment as the popularity of restaurants and hotels is on the high surge. But over the years, the use of Air fryers in the residential segment has kept on increasing.
Air Fryers Industry Overview
The global air fryers market is moderately competitive, with the presence of major international players. The market studied presents opportunities for growth during the forecast period, which is expected to further drive the market competition. The companies in the market are constantly engaged in various developmental activities, such as acquisitions, mergers, partnerships, expansions, and product launches, which increases competitive rivalry.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Health Conscious among the Customers is Driving the Market
4.2.2 Advancements in the Technology is Driving the Market
4.3 Market Restraints
4.3.1 High Initial Cost is Restraining the Market
4.3.2 Limited cooking Capacity is Restraining the Market
4.4 Market Opportunities
4.4.1 Technological Improvements and Sustainable Solutions will Create Opportunities for New Entrants
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness: Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Digital
5.1.2 Manual
5.2 By End User
5.2.1 Household
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Electronic Stores
5.3.3 Online
5.3.4 Other Distribution Channels
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Others
5.4.2 Asia-Pacific
5.4.2.1 India
5.4.2.2 China
5.4.2.3 Australia
5.4.2.4 Rest of the Asia-Pacific
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Rest of the Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of the South America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 South Africa
5.4.5.4 Rest of the Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Philips
6.2.2 Cosori
6.2.3 Ninja
6.2.4 Instant Pot
6.2.5 GoWISE USA
6.2.6 Cuisinart
6.2.7 BLACK+DECKER
6.2.8 Dash
6.2.9 Chefman
6.2.10 NuWave
6.2.11 T-fal
6.2.12 Hamilton Beach
6.2.13 Farberware
6.2.14 Bella
6.2.15 PowerXL*
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