Air Fryer Market 2024 is expected to expand at a CAGR of 6.8%

Air fryers are kitchen appliances that fries food by circulating hot air using the convection mechanism. It is available both in digital and manual forms. Manual air fryer is a type of analog air fryer which usually has two dials, for time and temperature, and indicator lights to indicate when the unit is on and preheated. Digital air fryer is an automatic air fryer which has a digital control panel that includes a LCD screen and a touch pad. Digital model offers programmable timers without having to reset the timer. The global air fryers market is estimated to reach US$ 1,110.8 Mn by 2026.

The global air fryers market is primarily driven by increase in the number of health conscious people opting for oil free food, in order to restrict cholesterol levels. In addition, increase in disposable income of consumers, research & development, and technology innovations in the industry are key factors fueling growth of the air fryer market. Air fryers are the upgraded versions of electric fryers.  Availability of a vast range of technologically advanced air fryer products is resulting in a rising consumer base and this is anticipated to boost the market in the coming years.

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The major challenge impacting the growth of the air fryers market is slower cooking time. Air fryers take more than double the time than in conventional frying. An air fryer takes a minimum of 15-25 minutes, while conventional frying takes approximately 8-10 minutes. Just like a conventional frying pan, an air fryer also needs to be warmed up for several minutes before using it. Slower cooking time of an air fryer is a retraining factor for the growth of the air fryer market. In addition, air fryers consume more electricity when compared to other types of fryers. Longer cooking time is also a reason for consuming more energy. More energy consumption is one the factors hindering the market growth.

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However, the large working population and the large number of people in the middle class bracket are preferring healthier food options. An air fryer is a most modern method of preparing less oily food. Majority of demand for small consumer appliances originates from people who prefer latest and technologically advanced products. Furthermore, greater availability of products and higher awareness regarding small appliances with smart features drives the demand.

In the current scenario, a surge is seen in demand for smart air fryers in the global market, giving tech savvy customers a new reason to buy this product. Though smart air fryers are sold at high prices, manufacturers are viewing this segment as an opportunity to create a foothold in the near future. However, there are a few well established players with strong distribution network across different regions. Companies are strengthening their position by continuously investing in research and development (R&D) to come up with solutions to cater to customer requirements.

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Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Major air fryer market players profiled in the report are Koninklijke Philips N.V., Tatung Company of America, Inc., De’Longhi America Inc., Ming’s Mark Inc., Groupe SEB, Avalon Bay, Bajaj Electricals Limited, American Micronic Instruments, Mayer, and Gorenje. Rivalry among existing players in the market is high as major players are engaged in acquiring smaller players to gain market share.