Newark, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The air fryer market is experiencing significant growth due to several key factors. Recent developments, such as the introduction of smart air fryers by companies like Xiaomi and Midea, highlight advancements in IoT integration and expanding product features, including Wi-Fi connectivity and voice assistant compatibility. These innovations cater to the rising demand for convenient and healthier cooking methods.
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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.
Market Drivers include the increasing consumer preference for healthier eating alternatives, with air fryers being perceived as a healthier option compared to traditional frying methods. Additionally, the growing online shopping platforms and e-commerce have further expanded the market reach by providing easy accessibility and a wider selection of products to global consumers.
Challenges/Restraints for the market include a lack of awareness about air fryers' benefits and functionality. Many consumers are still unfamiliar with how these devices work or mistakenly equate them with deep fryers, which could slow market adoption.
Opportunities in the market arise from the surging demand for smart kitchen appliances, which align with the trend of modular kitchen aesthetics, especially in regions like North America. The rise of busy lifestyles and increasing disposable incomes are key factors driving this demand.
Advancement in market
With an 8-quart capacity and the ability to cook up to 6.5 pounds of food at once, the Bella Pro Series 8-quart digital air fryer is perfect for preparing large meals or snacks for a large gathering. With 1,700 watts of power, it can reach 400 degrees Fahrenheit in minutes—much faster than an oven or pot of oil. It has nine distinct cooking settings, including options for bacon, fish, poultry, and more. Cleaning up is also easier with the dishwasher-safe and detachable crisping pan and basket.
Report Scope and Segmentation -
| Report Coverage | Details |
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 972 Million |
| Market size value in 2033 | USD 2098.48 Million |
| CAGR (2024 to 2033) | 8% |
| Forecast | 2024-2033 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, End-User and Distribution Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
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The regional analysis shows North America leading the market due to high adoption rates in both residential and commercial sectors. However, other regions like Asia-Pacific are also seeing strong growth due to rising disposable incomes and an increasing focus on healthier lifestyles.
About the report:
The global Hyper Personalization market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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