Accordingto a new market research report published by Transparency MarketResearch titled “Air Fryer Market – Global IndustryAnalysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” theair fryer market across the globe is anticipated to reach US$ 1110.8 Mn by2026. The market is expected to expand at a CAGR of 6.8% during the period2018-2026.
The air fryer market basedon product type includes digital and manual air fryers. The digital air fryersegment is expected to expand at a faster rate compared to its counterpart.Manual air fryers are preferred due to their price and easy control. Marketshare of digital air fryers is expected to increase due to consumers shiftingto automatic solutions. Demand for smart featured appliances, increase innumber of smaller households, and rising health concerns among end-usersleading to preference for oil free food is expected to accelerate the globalair fryer market during the forecast period from 2018 to 2026.
Basedon application segment, air fryers are segmented into residential andcommercial. The commercial segment is divided into hotels, cafes, and quickservice restaurants. On the basis of distribution channel, air fryers can bebought either online and offline. Online segment is further sub-segmented intoe-commerce retailers and company's own website. In addition, offline segment issub-segmented into hypermarkets, specialty stores, and multi-brand retailers.
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The largeworking population and the large number of people in the middle class bracketare preferring healthier food options. An air fryer is a most modern method ofpreparing less oily food. Majority of demand for small consumer appliancesoriginates from people who prefer latest and technologically advanced products.Furthermore, greater availability of products and higher awareness regardingsmall appliances with smart features drives the demand
In thecurrent scenario, a surge in demand for smart air fryers in the global marketis giving tech savvy customers a new reason to buy this product. Though smartair fryers are sold at high prices, manufacturers are seeing an opportunity inthis segment to create a foothold in the near future. However, there are a fewwell established players having strong distribution networks across differentregions. Companies are strengthening their position by continuously investingin research and development (R&D) to come up with solutions to cater tocustomer requirements.
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Based ongeography, the air fryer market has been segmented into North America, Europe,Asia Pacific, Middle East & Africa, and South America. Europe is thelargest region in the air fryer market. The market in Europe for digital airfryers is expected to expand at a CAGR of 6.7%. Demand for air fryers in Europeis likely to grow rapidly in France and the U.K. due to demand from householdsand a thriving industrial sector in these countries. According to the report,the Asia Pacific air fryer market is expected to expand at a CAGR of 7.2% interms of revenue. South America and Middle East & Africa are expected toexpand at a CAGR of 6.7% respectively in the air fryer market. The market inNorth America is expected to grow at a gradual rate.
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The airfryer market is highly competitive with a large number of players presentacross the globe. Some of the leading industry players profiled in the studyinclude Koninklijke Philips N.V., Tatung Company of America, Inc., De'LonghiAmerica Inc., Ming’s Mark Inc., Groupe SEB, Avalon Bay, Bajaj ElectricalsLimited, American Micronic Instruments, Mayer, and Gorenje.
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