Air Fryer Market Size was valued at USD 0.80 billion in 2021. The air fryer market industry is projected to grow from USD 1.12 Billion in 2022 to USD 2.02 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.23% during the forecast period (2022 - 2030). The rising awareness of healthy food and the growth in demand for the kitchen appliance market globally is the growth factor of the air fryer market.
An air fryer is similar to a microwave oven. It can bake and roast, with the main difference being its heating elements, which are positioned on the upper side with a powerful fan, making the food very crunchy and crispy in no time while using less oil and deep-frying. Air fryers heat up quickly and cook food evenly and quickly, thanks to the dual combination of concentrated heating and the precise placement of the appropriate-sized fan.
The air fryer market share has been increasingly popular in recent years due to various variables. Air fryers are now being used in home and commercial settings to prepare healthier versions of deep-fried foods. Traditional deep fryers are being phased out in favor of air fryers. Compared to deep fryers, air fryers utilize a fraction of the oil while maintaining the same flavor and texture. A reduction in oil consumption is favorable to human health.
According to the latest air fryer market research, the global market has been divided into end-user, distribution channel, and regional basis. With the end-user section, the market has been divided into residential and commercial. According to the distribution channel, the market has been divided into store-based, supermarkets & hypermarkets, specialty stores, and non-store-based. On a regional basis, the market is further divided into five sections Asia-Pacific, North America, South America, Europe, and Middle East & Africa.
According to the latest air fryer market report, the global market has been divided into end-user, distribution channel, and regional basis. With the end-user section, the market has been divided into residential and commercial. According to the distribution channel, the market has been divided into store-based, supermarkets & hypermarkets, specialty stores, and non-store-based. On a regional basis, the market is further divided into five sections Asia-Pacific, North America, South America, Europe, and Middle East & Africa.
Household customers in China have purchased AI-based smart home equipment, such as smart refrigerators and robotic cleaning products, due to increased disposable income, dual-income homes, and lifestyle changes. China is one of the world's largest marketplaces for home appliances, making it a desirable location for smart home equipment. The Chinese household appliance industry has grown to be worth billions of dollars. In China, per capita spending on modern household appliances and consumer electronics has increased dramatically over the previous decade.
Japan, behind China, is one of the region's largest investors in smart home appliance products. The market's expansion is being fueled by increased investment in linked home devices and the high adoption of smart home appliances due to increased awareness.
Voice assistants and artificial intelligence are producing substantial disruptions in all smart home products; in particular, the smart home appliances industry has seen exceptional growth in recent years. Household cleaning robots are rapidly becoming a reality in Japan. Consumers have begun to welcome vacuum robots into their homes, following the lead of AI-powered smart speakers.
Key Companies Profiled:
Koninklijke Philips N.V. (Netherlands), Tatung Company of America, Inc. (US), De'Longhi America Inc. (Italy), Groupe SEB (France), Bajaj Electricals Limited (India), Cuisinart (US), SharkNinja Operating LLC (US), Breville Inc. (Australia), Havells India Limited (India), and NuWave LLC (US).
The Key air fryer Market Players is consolidated. Mid-size and smaller businesses are expanding their market presence by gaining new contracts and tapping new markets thanks to technical improvements and product innovations.