Air Fryer Market Expected to Reach $1.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Air Fryer Market," The air fryer market size was valued at $1 billion in 2022, and is estimated to reach $1.9 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.

Air fryer is a kitchen equipment that prepares meals by flowing hot air around it. It uses convection technology to create a crispy coating on the outside of the meal similar to conventional frying techniques, however, with substantially less oil or fat. The appliance is a small countertop product with a heating component and a blower. Customers place their meals in a ventilated basket or on a plate within the fryer, and hot air speedily flows around the food, frying it evenly & providing a crisp texture. Air fryers have gained substantial popularity due to their capacity to generate healthy versions of classic deep-fried food products by using a fraction of the oil.

Significant reduction in the threat of acrylamide production associated with this revolutionary cooking technology is a key driver of the air fryer market growth. Acrylamide, a potentially dangerous chemical compound, generated during high-temperature cooking methods such as deep frying has become a major concern for health-conscious consumers. Air fryers use rapid hot air circulation method instead of soaking food in oil, thereby reducing the production of acrylamide as end product. The reduced acrylamide levels resolve health-related concerns as well as correspond with large initiatives to encourage safe and healthy eating practices. With large numbers of consumers becoming aware of the hazards associated with traditional frying processes, the appeal of air fryers as a healthy cooking choice is increasing. The air fryer market demand reflects an intentional move toward kitchen appliances which provide taste and simplicity as well as actively assist in minimizing health risks, thus establishing air fryers as a preferred choice among individuals seeking more secure & health-conscious culinary experience.

However, counterfeit products have emerged as  key restraint to the expansion of the air fryer market. With rise in popularity of air fryers, the number of counterfeit or substandard models has increased in the market. These models frequently resemble recognized brands in appearance but lack the quality, security features, and efficiency criteria of genuine products. Consumers who purchase counterfeit air fryers inadvertently face inferior cooking results, safety concerns, and short product lifespans, hence leading to market despair and distrust. The existence of counterfeit products not only damages the reputation of established businesses but also endangers consumer safety. Furthermore, it creates a vague ambience where customers retreat from making investments in air fryers due to concerns regarding product legitimacy and trustworthiness. Therefore, the abundance of counterfeit air fryers works as a growth inhibitor by weakening consumer confidence and stifling overall market expansion.

On the contrary, the expansion of e-commerce sales channel provides a lucrative opportunity for the air fryer market to flourish. Boost in popularity of online shopping platforms has transformed consumer purchasing habits, providing a quick and accessible route for customers to research and purchase kitchen equipment such as air fryers. Moreover, e-commerce platforms offer a broad and diversified market wherein consumers are able to evaluate features, read reviews, and make sound decisions about the finest air fryer models as per their requirements. Manufacturers interact with the global audience through internet retail arena, expanding their presence in the market beyond traditional brick-and-mortar limits. Furthermore, the simplicity of online transactions, along with doorstep delivery options, increases customer convenience, thereby creating a favorable atmosphere for air fryer sales. In addition, e-commerce platforms' capacity to offer incentives, discounts, and package deals increases consumer interest and drives the sales. The air fryer industry is well-positioned to exploit e-commerce channel as an innovative and growing avenue for market expansion as the inclination toward purchasing goods online continues to rise.

The air fryer market is segmented by end user, distribution channel, and region. On the basis of end user, the market is bifurcated into residential and commercial. According to distribution channel, the market is categorized into hypermarkets/supermarkets, specialty stores, and online channels. Depending on region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, ASEAN, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, the Middle East, and the rest of LAMEA).

Players operating in the air fryer market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Kent RO Systems Ltd., Newell Brands (Oster), Koninklijke Phillips N.V., Bajaj Electricals Ltd, TTK Prestige Limited, Havells India Ltd, Taurus Group (Inalsa), NuWave LLC, Arovast Corporation (Cosori), and Wonderchef Home Appliances PVT Ltd.

Key findings of the study

• According to the air fryer market trends, on the basis of end user, the residential segment dominated the air fryer market in 2022 and is anticipated to continue the same trend during the forecast period.
• According to the air fryer market analysis, on the basis of distribution channel, the hypermarkets/supermarkets segment dominated the air fryer market in 2022 and is expected to retain its dominance throughout the forecast period.
• Region wise, North America region accounted for the highest air fryer market share in 2022 and is expected to grow at a CAGR of 5.8% during the forecast period.