Growing Kitchen Appliances Market Worldwide to Boost the Demand for Air Fryer

The air fryer market worldwide is expected to raise with a CAGR of 6.7% during the forecast period from 2023 to 2030, starting from US$ 806.5 Mn in 2021. Rising awareness for eating healthy food and growing kitchen appliances market worldwide are the key growth factors for air fryer market. Growing inclination towards low-oil food has led the market demand for air fryer. Air fryer have several benefits such as less oil consumption, healthy cooking, easy cleaning, compact design and others aiding the market growth. Rising working population and growing technological advancement in kitchen appliances are also helping the market growth. Therefore, we presume that the air fryer market will show substantial growth throughout the forecast period.

Online Segment to be the Fastest Growing

The offline segment led the global air fryer market, in 2021. Offline segment contributed over 50% market revenue stake in the same year. Increasing number of retail stores and product visibility are the major factors for dominance of offline segment. On the other flip, we presume that the online segment will be the fastest growing segment throughout the forecast period. Growing popularity of online shopping and rising e-commerce penetration worldwide are the major reasons for the fastest growth of the segment. Further, introduction of online shopping websites by major players is also one of the major reason for segment growth.  Thus, we expect that the online segment will be the fastest rising segment during the forecast period.

Asia Pacific to be the Fastest Growing Region

Europe was the main contributor in the global air fryer market followed by North America and Asia Pacific respectively, in 2021. Europe contributes for nearly 1/3 of the global revenue in the same year. Europe has its dominance owing to higher health consciousness among consumers. On the other flip, Asia Pacific will be the fastest growing region due to growing disposable income and rising health awareness among people. Further, the cultural shift in developing economies of Asia Pacific such as China and India includes changing consumer habits, urbanization, rising middle class and others are some of the key growth factors. Therefore, we presume that the Asia Pacific will be the fastest growing region throughout the forecast period.

Some of the prominent players operating in the air fryer market include Koninklijke Philips N.V., Cuisinart, SharkNinja Operating LLC, Dash Appliances, Breville, Inc., Havells India Limited, TTK Prestige Ltd., Krups, NuWave, LLC, Bajaj Electricals Ltd, Mayer, Wonderchef, and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Air Fryer market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Air Fryer market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Air Fryer market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Air Fryer market?
• Which is the largest regional market for Air Fryer market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Air Fryer market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Air Fryer market worldwide?