"Overview of Air Fryer market"
The Air Fryer market is forecasted to reach US$ 1.6 Bn by 2027, growing at a CAGR of 6.8 % during the Forecast Period
The global Air Fryer market has shown moderate growth and is anticipated to witness impressive growth in the coming years. Some of the factors fuelling the growth if the global market includes product innovations, rising awareness regarding consumption of a healthy diet, and increasing population opting for oil-free food.
Rising awareness Regarding Advantages associated with air Fryers is Fuelling the Market Growth
The air fryers offer several advantages which are increasing its popularity and sale across the globe. The air fryers offer low-fat food and it is easy to clean-up which is driving the adoption rate among health-conscious people. The air fryer does not require oil for cooking as it operates on hot air circulation and ultimately produces healthy food which reduces the risk of food poisoning and other health issues occurred due to the consumption of unhealthy and oily food. Moreover, the air fryer energy efficiency as it takes lesser time for cooking and has the ability to cook multiple dishes at once. The factors are anticipated to fuel the growth of the global market during the forecast period.
However, the bulky weight and exterior surface might limit the growth of the air fryer market at a minimal extent as several advantages overshadow these factors and estimated to propel the market grows rapidly.
Based on Product Type, the Digital Air Fryers Accounted for Significant Share in Global Market
On the basis of product type, the digital segment led the global air fryer market by holding a significant share in 2018. The dominance of the segment can be accredited by rising demand for automated kitchen appliances in developed countries including Germany, The U.S., and Canada. The digital offers superior features such as temperature control knob, fast preheating, and touch screen panel which results in increasing popularity among large consumer base. Furthermore, manual air fryers are also expected to witness noteworthy growth during the forecast period. This is mainly due to the lesser cost than digital fryers.
Offline Distribution Channel Dominated the Global Market Whereas the Online Segment is estimated to Show Prominent Growth
Based on the distribution channel, the offline segment led the global market, accounting for a larger market share. The offline stores provide product visibility and testing which makes it the preferable channel among consumers. Moreover, the rising number of offline retailing stores supports the growth of the segment. On the other hand, the online segment is anticipated to grow at a tremendous compound annual growth rate in coming years. The growth of the online channels can be credited to the benefits associated with it such as huge discounts, a variety of product catalogs, easy payments, and easy returns. Moreover, the growing popularity of e-commerce websites such as flipkart, amazon, and Alibaba has anticipated to poise a positive impact on the segment growth.
Asia Pacific is anticipated to be the Largest Share Holder in Global Market
By geography, Europe is projected to be the leading region throughout the forecast period. The growth of the region is propelled by rising health consciousness and high buying capacity among consumers. Germany is the largest shareholder for air fryer market in Europe.
Asia Pacific is projected to be the fastest growing geography in global air fryer market. The growth of the region is mainly due to rising disposable income and modernizing lifestyle in developing continents such as China, India, and Japan. Also, presence of prominent players such as Ninja, Philips, and Prestige is expected to favour the regional growth.
The companies are continuously launching new products in order to enhance their product portfolio and gain competitive edge. For instance,
In February 2019, Gourmia announced to launch a new product line of toaster oven fryers. The company also stated that the launch will be announced in International Home + Housewares Show. The new line contains eight new models suitable for every kitchen.
In February 2019, Sequential Brands Group, Inc. have signed an agreement with Tristar Products, Inc with Emeril Lagasse Brand. The partnership was intended to launch new product lines for small kitchen, grill, electric, and electric accessories.
Some of the major players operating in global market include NuWave, LLC, Koninklijke Philips N.V., KRUPS, Cuisinart, TTK Prestige Ltd., SharkNinja Operating LLC, Havells India Ltd., Breville, Inc., and DASH.
Global Air Fryer Market by product Type
Global Air Fryer Market by Distribution Channel
Global Air Fryer Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America