Air Fryer Market Size to Exceed US$1 Billion by 2030, Predicts Fairfield Market Research in a New Report

London, March 12, 2024 (GLOBE NEWSWIRE) -- Global air fryer market is likely to experience a promising surge, expanding at a value of US$1,707.4 Mn by 2030, marking a significant increase from US$983.5 Mn in 2023. Market expansion is impelled by a healthy CAGR of 8.2% during the projection period, estimated by a recently published report by Fairfield Market Research.

Air fryers are no longer just a healthy option to deep fryers. The current air fryer is multipurpose; it can toast, grill, broil, and roast food. Brands are taking advantage of this trend by providing a wide range of multipurpose air fryers, which are becoming increasingly popular among customers looking for convenience and value in a single product. Future consumer preferences and technology trends are expected to hasten the transition to multipurpose air fryers.

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REPORT SCOPE

Key factors anticipated to boost the air fryer market growth are growing health consciousness and knowledge of eating a healthy diet. The air fryer market is expected to grow quickly in Asia Pacific, and Latin America, with China, and India leading market penetration. Manufacturers are spending significantly on marketing, and promotional initiatives to boost sales and brand awareness, viewing these locations as potential resources.

“Advances in technology have led to improvements in air fryer design and functionality, making them more efficient and user-friendly. Modern air fryers often feature digital controls, programmable settings, and pre-programmed cooking modes, allowing users to easily customise their cooking experience and achieve consistent results,” says the company analyst.

Air fryers consume less energy compared to conventional ovens and produce less waste, as they do not require disposable cooking oil for frying. The air fryer market is highly competitive, with manufacturers constantly innovating to differentiate their products and attract consumers. This competition has led to the introduction of features such as larger cooking capacities, improved airflow systems, and accessories that enhance the versatility and performance of air fryers.

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Key Research Insights

• The 1200-1500 Watt segment is anticipated to dominate in terms of market share for air fryers globally.
• North America is anticipated to account for the largest share of the global air fryer market.
• The market in Asia Pacific for air fryers is expanding with the fast industrialisation of emerging nation.
• The digital category dominated the industry in 2023.

Insights into Segmentation Analysis

Residential Sector Leads Adoption

• The residential segment dominated the market in 2023. Due to changes in lifestyle and increased disposable income, residential end users are becoming increasingly interested in home cooking and healthy eating.
• The popularity of smart portable gadgets among household users is surging in the market.
• The commercial category is expected to experience the fastest growth within the forecast time frame. Due to their limited capacities, many air fryer models are designed to serve no more than five people at a time. As a result, producers are increasingly concentrating on releasing larger models.
• The commercial sector, which includes lodging facilities, dining establishments, and medical facilities, has been the main source of demand for these product offerings, supporting the expansion of the industry.

Digital Category Maintains a Dominant Position

• The digital category segment dominated the market in 2023. This results from a growing desire for automation, digital device use, and health consciousness. Compared to frying in oil, air frying is frequently healthier.
• It is significantly lower in fat and has a 70%-80% calorie reduction. This cooking technique could mitigate a few more detrimental effects of oil frying.
• The manual category is projected to experience the fastest market growth. Due to their cheaper cost compared to digital models, manual air fryers are recommended. A significant aspect that can limit the expansion of this industry is slower cooking times.
  
  

The 1200-1500 Watt Air Fryers Category Most Popular

• In 2023, the 1200-1500 watt category dominated the industry. Customers searching for a strong and adaptable appliance frequently choose air fryers in the 1200-1500-watt range.
• From veggies to baked goods, these air fryers can cook a broad range of dishes, including chicken wings, and French fries. In addition, they are comparatively quick, cooking food in a fraction of the time needed in a conventional oven.
• The below 1200-watt category is anticipated to grow substantially throughout the projected period. Due to their higher energy efficiency than conventional air fryers, air fryers under 1200 watts are growing in popularity in India.
  
  

Key Report Highlights

• The air fryer market has been experiencing a robust growth rate, with double-digit percentage growth in recent years.
• While the air fryer market is global, certain regions may exhibit higher demand or growth rates compared to others.
• Manufacturers are continually innovating to differentiate their products and attract consumers. This includes the introduction of features such as larger cooking capacities, improved airflow systems.
• The growing emphasis on health and wellness has led to increased demand for products that support a healthy lifestyle. Air fryers align with this trend by offering a healthier cooking alternative to traditional frying methods

Insights into Regional Analysis

Asia Pacific Presents a Highly Fertile Ground for Market Expansion

• The key drivers for the market growth in Asia Pacific during the projection period are significant.
• The growing FDI investments, fast industrialisation, government programs like Made in India, rising economic development, and rising consumer spending on home appliances in the region's developing economies are a few of the drivers.
• Indian consumer electronics and appliance (ACE) market size was US$31.49 Bn in 2017, according to IBEF.
  
  

North America Represents the Largest Air Fryer User

• In the air fryer industries, convenience adoption is anticipated to dominate in the North American region. Demand for air fryers is rising as more people move away from traditional deep frying and towards air frying for health and environmental reasons.
• It is projected that the air fryer market will grow steadily in North America.
• The need for air fryers will continue as people look for healthy substitutes for fried dishes. As a result of manufacturers' continuous efforts to meet growing consumer demand and the needs of the more tech-savvy market, air fryers are now offered in a range of price ranges and with features that consumers like. 
  
  

Global Air Fryer Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Device Type Coverage, By Wattage Coverage, By End-use Sector Vertical Coverage, By Price Range Coverage, By Sales Channel Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/air-fryer-market

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