According to a new market research report published by TransparencyMarket Research 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 based on product type includes digital andmanual air fryers. The digital air fryer segment is expected to expand at afaster rate compared to its counterpart. Manual air fryers are preferred due totheir price and easy control. Market share of digital air fryers is expected toincrease due to consumers shifting to automatic solutions. Demand for smartfeatured appliances, increase in number of smaller households, and risinghealth concerns among end-users leading to preference for oil free food isexpected to accelerate the global air fryer market during the forecast periodfrom 2018 to 2026.
Based on application segment, air fryers are segmented into residentialand commercial. 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.
The large working population and the large number of people in themiddle class bracket are preferring healthier food options. An air fryer is amost modern method of preparing less oily food. Majority of demand for smallconsumer appliances originates from people who prefer latest andtechnologically advanced products. Furthermore, greater availability ofproducts and higher awareness regarding small appliances with smart featuresdrives the demand
In the current scenario, a surge in demand for smart air fryers in theglobal market is giving tech savvy customers a new reason to buy this product.Though smart air fryers are sold at high prices, manufacturers are seeing anopportunity in this segment to create a foothold in the near future. However,there are a few well established players having strong distribution networksacross different regions. Companies are strengthening their position bycontinuously investing in research and development (R&D) to come up withsolutions to cater to customer requirements.
Based on geography, the air fryer market has been segmented into NorthAmerica, Europe, Asia Pacific, Middle East & Africa, and South America.Europe is the largest region in the air fryer market. The market in Europe fordigital air fryers is expected to expand at a CAGR of 6.7%. Demand for airfryers in Europe is likely to grow rapidly in France and the U.K. due to demandfrom households and a thriving industrial sector in these countries. Accordingto the report, the Asia Pacific air fryer market is expected to expand at aCAGR of 7.2% in terms of revenue. South America and Middle East & Africaare expected to expand at a CAGR of 6.7% respectively in the air fryer market.The market in North America is expected to grow at a gradual rate.
The air fryer market is highly competitive with a large number ofplayers present across the globe. Some of the leading industry players profiledin the study include Koninklijke Philips N.V., Tatung Company of America, Inc.,De'Longhi America Inc., Ming’s Mark Inc., Groupe SEB, Avalon Bay, BajajElectricals Limited, American Micronic Instruments, Mayer, and Gorenje.
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The global air fryer market has been segmented as follows
Air Fryer Market, by Product Type
· Digital
· Manual
Air Fryer Market, by Application
· Residential
· Commercial(Hotels, Cafes, and Quick Service Restaurants)
Air Fryer Market, by Distribution Channel
· Online(E-commerce Retailers and Company's Own Website)
· Offline(Hypermarkets/Supermarkets/ Malls, Specialty Stores, and Multi-brand Retailers)
Global Air Fryer Market, by Geography
· NorthAmerica
o U.S.
o Canada
o Rest ofNorth America
· Europe
o UK
o Germany
o France
o Rest ofEurope
· AsiaPacific (APAC)
o China
o India
o Japan
o Rest ofAsia Pacific
· MiddleEast & Africa (MEA)
o GCC
o SouthAfrica
o Rest ofMEA
· SouthAmerica
o Brazil
o Rest ofSouth America
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