Global Demand for Air Fryer Products and Technologies to Grow at a 7.9% CAGR, Rising from $916.5 Million in 2023
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“According to the latest BCC Research study, the demand for Air Fryer Products and Technologies: Global Markets is estimated to increase from $916.5 million in 2023 to reach $1.34 billion by 2028, at a compound annual growth rate (CAGR) of 7.9% from 2023 through 2028.”
This comprehensive report meticulously dissects the global air fryer products and technology markets, employing a thorough segmentation strategy based on function, fryer type, capacity, distribution channel, end user, and region. By delving into the realms of manual and digital air fryers under the function category, and further categorizing fryer types into basket, oven, and hybrid, the report offers a nuanced understanding of market dynamics. Capacity-wise, segmentation ranges from less than 1 quart to 5 quarts, 5 quarts to 10 quarts, and over 10 quarts, providing insights into varied consumer needs. The distribution channel is dissected into online and offline, while end users are categorized as residential and commercial. Geographically, the report explores North America, Europe, Asia-Pacific, and RoW (Africa, South America, and the Middle East). Utilizing 2022 as the baseline, the report forecasts market data from 2023 to 2028, offering a glimpse into the anticipated growth trajectory. Vital information on the market’s current size, leading companies, end-user preferences, and geographical opportunities enriches this insightful analysis, making it an indispensable resource for industry stakeholders.
Air fryers have emerged as a revolutionary kitchen appliance, significantly reducing oil consumption by utilizing a mere 5% or sometimes no oil in comparison to traditional deep-frying methods. This not only promotes healthier eating habits but also aligns with environmental consciousness by consuming only 15-20% of the energy used by deep fryers, contributing to reduced electricity consumption. The versatility of air fryers is evident in the coverage of Flex basket air fryers, designed to accommodate larger quantities of a single food variety or smaller quantities of two varieties simultaneously. The report also highlights key players offering Flex basket, single, and dual basket air fryers globally, providing valuable insights into regional preferences and market leaders. Air fryers, unlike conventional ovens and deep-fried appliances, come in various sizes, catering to different family needs based on their regular food preparation capacities. The coverage extends to different capacities and major players in top countries worldwide, offering a comprehensive guide for consumers. Additionally, the report delves into the rising popularity of Hybrid air fryers, combining air frying capabilities with other cooking options such as pressure cooking and grilling. The inclusion of players in different countries and region-wise leaders for hybrid air fryers, along with top countries information, enhances the understanding of this evolving market segment.
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Key Drivers of Air Fryer Products and Technologies: Global Markets
Convenient and Time-Saving Air Fryers: The surge in the popularity of air fryers can be attributed to their unmatched convenience and time-saving features. As modern lifestyles become increasingly hectic, consumers are drawn to kitchen appliances that streamline the cooking process. Air fryers, with their quick and efficient cooking capabilities, provide a convenient solution for individuals seeking to prepare delicious and healthy meals without compromising on time.
Increasing Use of Advanced Technology by Consumers: A pivotal driver in the air fryer market is the growing adoption of advanced technology by consumers. As technology continues to evolve, consumers are inclined towards kitchen appliances that integrate smart features, user-friendly interfaces, and innovative functionalities. The incorporation of cutting-edge technology in air fryers enhances their performance, making them more appealing to tech-savvy individuals who prioritize efficiency and ease of use in their culinary pursuits.
Rapid Expansion of E-commerce Worldwide: The global proliferation of e-commerce channels plays a significant role in propelling the air fryer market forward. The ease of online shopping, coupled with the availability of a diverse range of air fryer models, has contributed to the rapid growth of e-commerce sales in the kitchen appliance sector. Consumers now enjoy the convenience of researching, comparing, and purchasing air fryers from the comfort of their homes, fostering the market’s expansion on a global scale.
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Report Synopsis
|
Report Metrics |
Details |
|
Base year considered |
2022 |
|
Forecast Period considered |
2023-2028 |
|
Base year market size |
$858.4 million |
|
Market Size Forecast |
$1.34 billion |
|
Growth Rate |
CAGR of 7.9% from 2023 to 2028 |
|
Segment Covered |
By Function, Product Type, Capacity Range, Distribution Channel, End-user, and Region |
|
Regions covered |
North America, Europe, Asia-Pacific and RoW (Africa, South America and the Middle East) |
|
Key Market Drivers |
• Air Fryers are Convenient and Time-saving • Increasing Use of Advanced Technology by Consumers • Rapid Expansion of E-commerce Worldwide |
Segmentation Analysis:
By Function Segmentation Analysis:
The report categorizes air fryers based on function into two distinct types – Digital and Manual. Digital air fryers are equipped with advanced technological features, often including programmable settings and precision controls, catering to users who appreciate automated cooking processes. On the other hand, Manual air fryers offer a more hands-on approach, providing users with direct control over the cooking process. This segmentation allows consumers to choose air fryers that align with their preferred level of technological involvement in the kitchen.
By Fryer Type Segmentation Analysis:
The market segmentation based on fryer type encompasses three key categories – Basket type fryer, Oven type fryer, and Hybrid type fryer. Basket type fryers are designed for simplicity, offering a compact solution for frying with a basket-style container. Oven type fryers provide a spacious cooking environment, resembling traditional ovens but with air frying capabilities. Hybrid type fryers, a rising trend, combine air frying functionalities with additional cooking options such as grilling or pressure cooking, offering versatile solutions to culinary enthusiasts.
By Capacity Segmentation Analysis:
The report further segments air fryers based on capacity into three ranges – 1 quart to 5 quarts, 5 quarts to 10 quarts, and Over 10 quarts. This classification addresses the diverse needs of consumers with varying cooking requirements. It enables individuals or families of different sizes to select air fryers that best suit their regular food preparation quantities, providing a tailored approach to kitchen appliances.
By Distribution Channel Segmentation Analysis:
The distribution channel segmentation includes Online and Offline categories. The Online channel reflects the growing trend of e-commerce, offering consumers the convenience of browsing, comparing, and purchasing air fryers through online platforms. In contrast, the Offline channel encompasses traditional retail outlets, ensuring accessibility for consumers who prefer a hands-on shopping experience or immediate product availability.
End User Segmentation Analysis:
The segmentation by End User distinguishes between Residential and Commercial users. Residential users include individuals and families seeking air fryers for home kitchens, emphasizing factors like convenience and family meal preparation. Commercial users, on the other hand, cater to businesses and professional kitchens where larger capacities and durability are paramount considerations.
Regional Segmentation Analysis:
Geographical segmentation covers North America, Europe, Asia-Pacific, and Rest of the World. This segmentation acknowledges regional variations in consumer preferences, market trends, and economic factors, providing a comprehensive understanding of the global landscape for air fryer products and technologies.
This report on the Air Fryer Products and Technologies: Global Markets provides comprehensive insights and analysis, addressing the following key questions:
1. What is the projected market size and growth rate of the market?
Global air fryer products and technology markets is projected to grow from $858 million in 2022 to $1.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.9% during the forecast period 2023 to 2028.
2. What are the key factors driving the growth of the market?
The key factors driving the growth of the global air fryer products and technology markets include air fryers are convenience and time saving, increasing use of advanced technology by the consumers, rapid expansion of e-commerce worldwide.
3. What segments are covered in the market?
Function Type
Fryer Type
Capacity
Distribution Channel
End User
4. By function type of air fryers, which segment will dominate the market by the end of 2028?
Digital type air fryers segment is already dominating and is likely to continue its dominance till 2028.
5. Which region has the highest market share in the market?
North America holds the highest share of the market.
Some of the Key Market Players Are:
AGARO
AROVAST CORP. (COSORI)
BREVILLE GROUP LTD.
CHEFMAN
CUISINART
EMPOWER BRANDS LLC
GOURMIA INC.
INSTANT BRANDS INC.
KONINKLIJKE PHILIPS N.V.
NUWAVE LLC
PIGEON APPLIANCES PRIVATE LTD.
RUSSELL HOBBS LTD.
SALTER
SHARKNINJA INC.
STOREBOUND LLC
TEFAL SAS
TOWER
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