The global air fryer market size might showcase notable growth during the forecast period of 2024-2032. An air fryer is an electric cooking appliance that uses minimal oil for frying a wide range of foods, thereby offering a healthy alternative for deep frying. They are quite similar to microwaves in terms of their functioning. Moreover, these fryers are easily transportable and compact in size. These features are expected to boost the air fryer market growth.
Fortune Business Insights presents this information in a report titled “Air Fryer Market, 2024–2032.”
Top Key Players in the Air Fryer Market:
- SharkNinja Operating LLC (U.S.)
- T.K. Prestige Ltd. (India)
- Koninklijke Philips N.V. (Netherlands)
- Breville Inc. (Australia)
- Havells India Ltd. (India)
- Inalsa Home Appliances (India)
- DASH (StoreBound LLC) (U.S.)
- Cuisinart (U.S.)
- Borosil Glass Works Ltd. (India)
- Kent RO Systems (India)
Information Source: https://www.fortunebusinessinsights.com/air-fryer-market-107276
COVID-19 Impact
Nationwide Lockdowns and Other Restrictions Slumped Market Growth During COVID-19
The COVID-19 pandemic had a negative influence on the market progress as countries across the world had imposed lockdowns and other restrictions to contain the spread of the virus. Many industries, such as tourism and hospitality were adversely affected by the outbreak. This factor decreased the revenue margins of several air fryer manufacturers as the demand for their products declined during this period.
Segments:
By product, the market is segmented into manual and automatic.
By end user, the market is bifurcated into residential and commercial.
By distribution channel, the market is segregated into online and offline.
With respect to geography, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has conducted an in-depth study of the market and highlighted a wide range of crucial areas, such as leading products, end users, distribution channels, and top market players. It also gives important information regarding the key industry developments and the latest market trends. In addition to the abovementioned factors, the report covers several other factors that have fueled the market’s growth.
Drivers:
Increasing Adoption of Healthy Cooking Alternatives to Foster Market Growth
Individuals across the world are becoming more health conscious and trying to improve their lifestyle by making positive changes in their dietary habits. Some of these changes include moving away from oily foods and looking for healthy alternatives for deep frying. Excess consumption of deep fried foods can cause various chronic diseases, such as cardiovascular disorders and obesity. This is why more customers are purchasing air fryers as these appliances use little to no oil to cook several sweet and savory dishes without compromising on their taste. These factors are predicted to accelerate the market growth.
Regional Insights
Asia Pacific to Gain Major Traction in Global Market Due to Rising Health Consciousness
Asia Pacific is expected to record a major growth rate in the global market as customers across the region are becoming more conscious about their health and well-being. Many of them are opting for healthy diets to maintain their good health and boost their immunity. Other factors, such as rising disposable income and rapid urbanization are also contributing to the regional market’s growth.
Competitive Landscape
Key Companies to Launch New Products to Maintain Market Dominance
SharkNinja Operating LLC, T.T.K. Prestige Ltd., Koninklijke Philips N.V., Breville Inc., Havells India Ltd., Inalsa Home Appliances, DASH (StoreBound LLC), Cuisinart, Borosil Glass Works Ltd., and Kent RO Systems are some of the top market players. These companies are focusing on launching novel products to expand their customer base and market share.
Key Industry Development
- October 2022: Havells India Ltd. announced the launch of a new product in its air fryer range, Pro-life Luxuria, which is equipped with aero crisp technology and has 7 pre-set options. The new appliance claimed to offer 360 degrees even cooking.
- September 2022: Koninklijke Philips N.V. announced the launch of its Airfryer XL Connected in India, which comes with Wi-Fi connectivity and allows users to operate the appliance with their smartphones.
