Description
Air Fryer Market Size-Report Attribute Details
Air Fryer Market size value in 2021 USD 914.39 million
Revenue forecast in 2031 USD 1595.14 million
Growth Rate CAGR of 5.72% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Device Type, Distribution, End-users, and Region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Stanley Black & Decker, Breville Group Limited, Groupe SEB, SharkNinja Operating LLC, Cuisinart Corporation, Meyer Manufacturing Company Limited, GoWise USA, NuWave, LLC, De’Longhi Appliances S.r.l., DOMU Brands Ltd, TAURUS GROUP, Bajaj Electricals Ltd.
Frequently Asked Questions on the Air Fryer Market
How widely can an Air Fryer Market expand?
Who are the key players in the Air Fryer Market?
Which segment is anticipated to hold the largest Air Fryer Market share?
What could be the factors driving the growth of the Air Fryer Market?
What could be the exigent factors in the growth of Air Fryer Market?
Product Overview
Air fryer is a small countertop convection oven designed to simulate deep frying without immersing the food in oil. A fan circulates hot air at high speed, producing a crisp layer via browning responses such as the Maillard Response. Some products reviews claims that general convection oven or convection toaster ovens yield better results or that air frying is essentially convection baking under a fashionable new name. Air Fryer’s cooking chamber emits heat from heat elements near the food, and a fan circulates hot air. Cooking oil is not used in large quantities in Air Fryer.
Market Highlights
Air Fryer Market size is predicted to project a notable CAGR of 5.72% in 2031
High demand from restaurants, hospitals, hotels, cafes, and many others are expected to raise Air Fryer market. With rising trends of modular kitchens and appliances, customers are choosing for convenient products. Hence, rise in market of Air Fryer. Furthermore, rising popularity of e-commerce retailers is one of the key factors in soaring product sales through online channels.
Air Fryer Market: Segments
Digital products segment to grow with the highest CAGR during 2021-2031
Air Fryer Market is segmented by Device type into Digital-based and manual-based Products. The Digital Product segment is projected to lead the global market in the forecast timeframe. Arabica has wide range of health advantages such as anti-bacterial properties that maintain oral hygiene, lower the stress level, promote skin hydration, and many other benefits. All these components lift the Arabica Segment globally.
Commercial segment to grow with the highest CAGR during 2021-2031
Air Fryer is segmented by End-users into Digital Products and Manual Products. Air Fryer Market are gaining a lot of momentum for commercial use. The growth of the population is excellent for business as it will reproduce demand and will ultimately push for a large-scale supply. The census of bureau of the US Department of Commerce estimates a higher rise that will assure for the demand for air fryers owing to the ease of product, convenient use, and health benefits, hence, rise in demand of Air Fryer Market globally.
Air Fryer Market: Market Dynamics
Drivers
Urbanization
People from urban regions are keen to buy products with classy esthetics and high cost. Due to rising disposable incomes and household incomes, the urban population is more likely to purchase air fryers. A larger working-class population supports the sales of cookware goods, driving the demand for low-oil cooking appliances. Air fryers are an elevation from conventional electric fryer models. Access to new cooking structures has brought about a transition in customer penchant’s rising sales in the coming year.
Increase Level of Health consciousness
Increasing levels of health consciousness among customers and the adoption of oil-free diets to limit body cholesterols levels is essentially driving the adoption of air fryer products. Furthermore, higher spending on home appliances and access to widespread products-related research including design enhancement and advanced structures is one of the main factors that drive the growth of air fryers globally.
Restraints
Counterfeiting Goods
According to the World Customs Organization, 7-8 percent of global trade consist of counterfeit products. The inability of gaining grids to battle this problem has emerged as a restraint to market players. This impact of counterfeiting is felt in business and in the health and safety of buyers. Further, with the advancement of sophistication in counterfeiting processes, it is problematic for consumers to differentiate between a genuine and a counterfeit product.
Impact of the COVID-19 on the Air Fryer Market
The world market for Air Fryer Market has been severely affected by the outbreak of the COVID19 pandemic. The suspension of industrial activity affected the Air Fryer Market due to weak consumer confidence, store closures, and depletion of consumer incomes. Global GDP has changed consumer behavior and reduced demand for Air Fryer. To curb the spread of the coronavirus, the governments of several countries have imposed travel restrictions that severely affect the supply of raw materials for Air Fryer. The market is projected to resume its business after the end of the curbs-on movement.
Air Fryer Market: Key Players
koninklijke Philips N.V.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Stanley Black & Decker, Inc.
Breville Group Limited
Groupe SEB
sharkNinja Operating LLC
Cuisinart Corporation
Meyer Manufacturing Company Limited
GoWise USA
NuWave, LLC
De’Longhi Appliances S.r.l.
DOMU Brands Ltd
TAURUS GROUP
Bajaj Electricals Ltd.
Other prominent players
Air Fryer Market: Regions
Air Fryer Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Europe is estimated to contribute the largest share of the Air Fryer Market during the forecast period. The European market holds a major share of the global market. The market in the region is projected to register the highest CAGR during the forecast period. Asia Pacific is also estimated to expand at higher rate.
Air Fryer Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Air Fryer Market report also contains analysis on:
Air Fryer Market Segments:
By Device Type
Digital Products
Manual products
By End-user
Commercial
Residential
By Distribution
Online
Offline store
Air Fryer Market Dynamics
Air Fryer Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
Air Fryer Market Report Scope and Segmentation
Related Post : https://www.cri-report.com/industry/air-fryer-market-surge-cagr/
