The global air fryer market is projected to expand at a positive CAGR through 2031, owing to the rising demand for novel technology kitchen appliances within residential sector, evaluated ESOMAR-certified consulting firm Future Market Insights. Technological advancements in features such as LED screens, intelligent sensors, and touchpads are driving the demand for energy efficient- air fryer appliances.
According to the study, rising preference among consumers for oil-free food and high spending on home appliances is expected to boost the market demand. Manufacturers are focusing on incorporating advanced product features to generate lucrative opportunities. Furthermore, surging demand for technology-led products for kitchen appliances within residential sector is bolstering the growth of air fryer market. Increasing consumer inclination towards eco-friendly and energy efficient products is also accelerating the digital air fryer sales.
“Soaring demand for appliances incorporated with latest technology and multi-functional cooking features is amplifying digital air fryers sales,” remarks the FMI analyst.
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Key Takeaways
- Digital air fryers expected to generate around 26% of revenue share by 2021
- Online sales channel to witness remarkable growth rate of 14.5% CAGR through 2031
- Improving lifestyle to drive the revenue for residential application segment
- Increasing adoption of smart kitchen appliances and modular aesthetics to increase air fryer sales across United States
- Germany is expected to lead the European air fryer market
- India is anticipated to witness strong growth through 2021 and beyond, followed by China and Saudi Arabia
- Australia to be the most lucrative market in Oceania region backed by well-established manufacturing companies
Prominent Drivers
- Rising number of health-conscious people opting for oil-free food is driving the demand of air fryers
- Growing working population and increasing awareness about smart features kitchen appliances is expected to aid the air fryer market sales
Key Restraints
- High cost and limited number of cuisines recipe available for cooking is likely to limit the growth
Discover more about the air fryer market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/air fryer-market
Competitive Landscape
Leading players profiled by FMI operating in air fryer market include Koninklijke Philips NV, Stanley Black & Decker Inc., Breville Group Limited, Groupe SEB, SharkNinja Operating LLC, Cuisinart Corporation, Meyer Manufacturing Company Limited, GoWISE USA, NuWave LLC, and De Longhi Appliances SRL among others. According to FMI, the market is highly fragmented with intense competition. Leading players are focusing to integrate novel technologies to maintain the competitive edge in the industry.
For instance, on March 4th 2021, Xiaomi launched the MIJIA Smart air fryer of 3.5L under crowd funding with several functions of different appliances packed in one such as microwave oven, fruit presser, yogurt maker and so on.
Likewise, in November 2020, LG launched LG Air Fry InstaView ThinQ Range available in Canada.
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