Airfryer Market Size, Share & Trends Analysis Report By Product (Drawer Type Air Fryer,Lid Type Air Fryer,Oven Type Air Fryer), And Segment Forecasts, 2024 - 2031
In the "Airfryer market", the main focus is on keeping costs low and getting the most out of resources. Market research provides details on what people want (demand) and what's available (supply). This market is expected to grow by 12.4%% each year, from 2024 to 2031.
Airfryer Market Outlook
An Airfryer is a kitchen appliance that cooks food by circulating hot air around the food at a high speed, similar to how a convection oven works. This method results in crispy, fried-like food without the need for large amounts of oil, making it a popular choice for health-conscious consumers.
The future and current outlook of the Airfryer market looks promising, with a projected growth rate of % during the forecasted period of 2024-2031. The market is driven by increasing awareness about healthy eating habits, rise in disposable income, and the growing trend of home cooking. Consumers are increasingly looking for convenient, healthier cooking options which has boosted the demand for Airfryers.
The market forecast for the Airfryer industry is positive, with continued growth expected due to technological advancements, innovative product features, and increasing consumer preferences for healthier cooking methods. Latest market trends include the introduction of smart Airfryers with Wi-Fi connectivity, touch-screen interfaces, and pre-programmed cooking settings for added convenience. Overall, the Airfryer market is set to expand in the coming years due to the rising demand for healthier food options and convenient cooking appliances.
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Airfryer Market Segmentation
The Airfryer Market Analysis by types is segmented into:
- Drawer Type Air Fryer
- Lid Type Air Fryer
- Oven Type Air Fryer
Drawer Type Air Fryer: This type of air fryer has a drawer that slides out for easy access to the cooking basket. It is compact and user-friendly, making it ideal for small kitchens or individuals with limited counter space.
Lid Type Air Fryer: A lid type air fryer has a top lid that opens and closes to trap heat and circulate air for cooking. This design is great for larger quantities of food and is often used for baking and roasting in addition to air frying.
Oven Type Air Fryer: An oven type air fryer resembles a traditional oven with a hinged door and multiple cooking racks. It offers more cooking space and versatility, allowing for a variety of cooking methods beyond just air frying.
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The Airfryer Market Industry Research by Application is segmented into:
- Household
- Commercial
Airfryers are versatile kitchen appliances that are widely used in households for preparing crispy and healthy fried foods with little to no oil. They are also increasingly being adopted in commercial settings such as restaurants, cafes, and food trucks to quickly and efficiently cook a variety of dishes for customers. The convenience, energy efficiency, and health benefits of airfryers make them popular in both household and commercial markets.
Geographical Regional Spread of Airfryer Market
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
North America: The United States and Canada are expected to dominate the Airfryer market in this region, due to the increasing adoption of healthier cooking methods and the growing popularity of convenience cooking appliances.
Europe: Germany, France, the ., Italy, and Russia are key players in the Airfryer market in Europe. The increasing awareness about the health benefits of air frying and the rise in disposable income are driving the market growth in these countries.
Asia-Pacific: China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia are witnessing a growing demand for Airfryers due to the increasing focus on healthy eating habits and the rising popularity of western cuisines. China, in particular, is one of the largest markets for Airfryers in the region.
Latin America: Mexico, Brazil, Argentina, and Colombia are expected to witness significant growth in the Airfryer market, driven by the increasing adoption of modern cooking appliances and the rising consumer preference for healthier cooking methods.
Middle East & Africa: Turkey, Saudi Arabia, the UAE, and South Korea are witnessing a growing demand for Airfryers, driven by the increasing urbanization, changing consumer preferences, and the rising disposable income levels in these regions. The market is also expected to witness significant growth in Korea due to the increasing awareness about the benefits of air frying.
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Primary Catalysts and Hindrances of the Airfryer Market
Key drivers propelling the growth of the Airfryer market include increasing health consciousness among consumers, growing demand for convenient and efficient cooking appliances, and technological advancements in kitchen appliances. In order to overcome barriers and challenges faced by the industry, innovative solutions such as improved energy efficiency, enhanced safety features, and development of user-friendly interfaces can be implemented. Additionally, educating consumers about the benefits of air frying as a healthier cooking option and expanding product offerings to cater to diverse dietary preferences can further drive market growth.
Airfryer Major Market Players
- Philips
- SEB
- Hyundai
- Joyoung
- Midea
- Liven
- LOCK&LOCK
- Royalstar
- BIYI Group
- Hongxin
- Zhejiang Suteng Industiral and Trading co.,ltd.
- Breville
- GoWise USA
- Cuisinart（Conair）
- Delonghi
- German Pool Group
- Avalon Bay
- YEDI
- Vonshef（DOMU）
Philips is a key player in the airfryer market with a wide range of products and a strong brand reputation. The company has been focusing on innovation and product development to stay ahead in the market. SEB is another major player known for its high-quality airfryers with advanced features and user-friendly designs. Hyundai is a well-known brand in the home appliance industry, offering a variety of airfryer models at competitive prices.
Midea is a leading player in the airfryer market, with a strong presence in Asia and Europe. The company has been expanding its product range and distribution channels to cater to a wider customer base. Breville is a popular choice for consumers looking for premium airfryers with advanced technology and sleek designs. GoWise USA is a fast-growing player known for its affordable airfryers with a focus on functionality and performance.
In terms of market growth, the airfryer market is expected to witness significant growth in the coming years due to the increasing trend of health-conscious eating habits and the growing demand for convenient cooking appliances. The market size is projected to reach a value of over $1 billion by 2025, with a CAGR of around 7% during the forecast period.
In terms of sales revenue, Philips reported a revenue of $ billion in 2020, while SEB reported a revenue of €7.44 billion in the same year. Midea reported a revenue of $39.59 billion, and Breville reported a revenue of $712 million in 2020. These figures demonstrate the strong financial performance of these companies in the airfryer market.
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Airfryer Market Growth Prospects and Future Outlook
The Airfryer market is expected to witness significant growth in the coming years, fueled by increasing health consciousness among consumers and the growing demand for convenient cooking appliances. Innovative features like smart technology integration, multi-functional capabilities, and energy efficiency are anticipated to drive market growth.
Market entry strategies should focus on product differentiation, branding, and distribution channels to effectively reach target consumers. Potential market disruptions could stem from new entrants offering disruptive technology or changes in consumer preferences.
The market is projected to grow at a CAGR of around 6% during the forecast period, reaching a market size of over $ billion by 2026. Demographic trends favoring smaller households, busy lifestyles, and increasing disposable income are driving the adoption of Airfryers. Consumer segments include health-conscious individuals, working professionals, and millennials seeking quick and healthy cooking solutions. Factors influencing purchasing decisions include brand reputation, product features, price, and after-sales service.
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