Description
The global air fryer market was valued at USD 995.4 million in 2020 to USD 1506.62 million by 2027, at a CAGR of 6.1% from 2021 to 2027. Air fryers are primarily used as an alternative to deep fryers. Air fryers use a minimal amount of oil as compared to traditional deep fryers. The air fryers maintain the flavors and textures of food as traditional fryers. It uses heated air enriched with very fine droplets of oil to remove the moisture out of the food. The air fryer consists of two major components heating coil and a fan. The heating coils are used for heating surrounding air and then are circulated with the help of a fan.
The key factors that drive the air fryer market include the development of the hospitality industry, an upsurge in affordability of end customers for advanced kitchen appliances, continuous product innovation, and improved performance by leading manufacturers. Furthermore, customized solutions according to specific requirements and designs have created revenue opportunities for the air fryer market. However, the availability of high noise levels, uneven cooking, and counterfeit products are anticipated to impede the air fryer market growth. Moreover, novel innovations in aesthetics have gained huge traction in recent years, which is anticipated to create lucrative growth opportunities for market expansion.
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The rapid growth of the hospitality industry is expected to be the major driver for the global air fryer market. Busy lifestyles have led to changes in the eating habits of the majority of the worldwide population. Changes in eating habits have led to an increase in demand for ready-to-eat food products, which has led to a rise in the number of QSR hotels and restaurants. The HORECA industry end-users actively seek more advanced, compact, and effective equipment to increase their efficiency. This increase in demand for such advanced cooking equipment, which includes air fryers, is anticipated to propel revenue growth in the near future. Deep frying of food items in traditional fryers often leads to toxic compounds such as acrylamide in certain foods such as meat. The International Agency for Research on Cancer states that acrylamide may have links to the development of cancers such as endometrial, ovarian, breast, esophageal cancer, and pancreatic cancer.
Furthermore, studies suggest that acrylamide intake has detrimental cancer-causing effects on the kidney and damages the nervous system. As a result, by switching to air frying from deep fryers, people can lower the risk of having acrylamide in their food. Growth in awareness toward the hazardous effect of deep-fried food and availability of effective alternatives are expected to boost the revenue growth of the air fryer market during the forecast period.
Global Air Fryer Market Dynamics
Drivers: Health benefits of air fryer to augment market growth
Over the past few years, the air fryers market has witnessed significant growth and popularity, owing to multiple factors such as growth in awareness regarding healthfulness and an increase in concern regarding fat intake. The air fryers are now being used in residential and commercial applications, owing to a more healthful way to cook deep-fried food. They are massively replacing the deep fryers. They use a significantly less amount of oil than deep fryers without compromising on flavor and texture. A decrease in oil intake has a beneficial effect on human health. Many researchers have indicated high intakes of fats from vegetable oil lead to various health conditions such as inflammation, diabetes, and an increased risk of heart disease. Therefore, air fryers help eliminate high-fat and high-calorie oils from the cooking process. It uses heated air enriched with very fine droplets of oil to remove the moisture out of the food. As a result, air-fried food is similar to deep-fried food, though with significantly lower fat levels. This is expected to boost the growth of the market during the forecast period.
Restraints: High noise level and uneven cooking
The air fryer consists of two major components fan and heating coil. The heating coils are used for heating surrounding air and then circulated with the help of a fan. When the fan rotates at its highest speed, the air fryer makes high noise. Some air fryers make noise as high as 65 decibels, which might create a disturbance—furthermore, stacking food results in uneven cooking. Manufacturers are continuously improving the design and functioning of air fryers to overcome such setbacks; however, high noises and uneven cooking are anticipated to impend the market growth for air fryers.
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Opportunities: Increase in technological advancements
Durability, selling price, product maintenance & life, and average power consumption are the prominent factors considered while purchasing air fryers in developing regions. Thus, the development of energy-efficient and durable air fryers at an economical price remains the center of cynosure for the players in the industry. However, in the developed region, there is high demand for smart & connected equipment. Internet of Things, wireless technology, and smartphones are now becoming essential prerequisites and part of everyday life in households; eliminating existing price differences between conventional and air fryers and smart air fryers is anticipated to create remunerative opportunities for engaged stakeholders in the industry.
Scope of the Report
The study categorizes the air fryer market based on application, sales channel, and regions.
By Application
- Residential
- Commercial
By Sales Channel
- Hypermarket and Supermarket
- Specialty Store
- Online Sales Channel
By Region
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Residential, by application, is having largest market revenue during the forecast period
On the basis of application, the global air fryer market is studied across residential and commercial segments. The residential segment leads in terms of total demand and will continue to retain its dominance throughout the forecast period, and residential have a market revenue share of 57.8% in 2020. In addition, the foodservice industry such as HORECA and QSR are now extensively using air fryers for cooking in less oil.
The surge in popularity of air fryers due to the preparation of food items with up to 80% less fat than food cooked with other fryers fuels the demand for air fryers in developing and developed regions. Moreover, a rise in consumer awareness toward the product, extensive marketing & advertising by leading brands, and a shift in consumer preference toward air fryers augment the demand from the residential segment.
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Asia Pacific accounts for the highest CAGR during the forecast period in the air fryer market
On the basis of region, the global air fryer market is studied across North America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific region is poised to grow with a significant CAGR of 7.1% during the forecast period 2021-2027, owing to the expansion of the foodservice industry in the region.
Asia-Pacific serves as one of the most lucrative air fryer market markets, owing to the rise in automation in commercial kitchens and developing economies such as India and China. Moreover, countries in this region have adopted air fryers due to technological advancements and new business models, such as the development of the hospitality and e-commerce sectors. In addition, the presence of a large population base, rise in middle-class population, and increase in household income in this region are the major factors that supplement the market growth. Additionally, technological developments and innovative product launches are expected to create lucrative opportunities in the Asia-Pacific market.
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