Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) -- Air Fryer Market size is projected to accumulate USD 1.9 billion in revenue by 2032. The growing health consciousness among consumers, combined with a desire for better food options is driving the demand for air fryers as they require little to no oil to cook, providing a healthier alternative to standard frying methods.
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Air fryers are convenient and versatile, offering rapid and easy cooking of a variety of dishes while appealing to busy lifestyles and various culinary preferences. Rising disposable incomes and shifting customer preferences for home-cooked meals will further drive the product uptake. According to a report of the Bureau of Economic Analysis, personal income in the U.S. increased USD 60 billion in December 2023. This increasing per capita income is fueling the sales of various convenient appliances. Significant technological advancements, such as enhanced frying capabilities, digital controls, and elegant designs to meet the higher consumer demand for efficient and modern kitchen appliances.
Air fryer ovens to hold substantial share
The air fryer market from oven product segment is estimated to accumulate sizeable share of the air fryer industry by 2032, owing to their high versatility. Consumers are increasingly seeking versatile kitchen appliances that can, in addition to air fry, bake, roast, grill, and toast. Air fryer ovens have a bigger cooking capacity, which allows them to accommodate family-sized meals and respond to household demands. The convenience of having a single appliance for many cooking activities also saves space and streamlines meal preparation.
Increasing utilization in commercial sector
Air fryer market value from the commercial end-user segment will rise at notable rate until 2032, due to the increasing demand for healthier food options in restaurants, cafes, and foodservice establishments. Air fryers are witnessing increased penetration due to their ability to produce crispy and flavorful foods with minimal oil. The efficiency and speed offered by air fryers in cooking a large batch of food also caters to the needs of busy commercial kitchens for enhancing productivity and customer satisfaction. Cost-effectiveness as well as less oil and energy consumption compared to traditional fryers will also contribute to the widespread product adoption in commercial settings.
Asia Pacific to remain attractive market destination
Asia Pacific air fryers market size is projected to accumulate more than USD 605 million by 2032. This can be attributed to the rising health consciousness and awareness of healthier cooking methods to offer oil-free cooking solutions. The increasing disposable incomes and changing lifestyles of consumers in emerging economies like China and India are escalating the appeal of air fryers. The growing trend of home cooking and the popularity of convenience appliances will boost the regional market progression.
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Air Fryer Market Participants
Some of the leading firms operating in the air fryer industry include Black+Decker, Breville, Chefman, Cosori (Vesync Co., Ltd.), Cuisinart, Hamilton Beach, Instant Pot, Ninja, Philips. These market contenders are incorporating various business expansion strategies, such as mergers & acquisitions, collaborations, and introducing innovative solutions to increase their global presence.
For instance, in September 2022, INALSA, a provider of high-quality food processing products, introduced its Dual Basket Air Fryer for the first time in India, available through Offline Retailers as well as on Amazon & Flipkart.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Air fryer market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Product trends
2.5 Device type trends
2.6 Wattage trends
2.7 Distribution channel trends
2.8 End-user trends
Chapter 3 Air Fryer Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia-Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increasing focus on health and wellness
3.10.1.2 Offer convenience and time-saving benefits
3.10.1.3 Growing dietary preferences
3.10.1.4 Eco-friendly and energy-efficient features
3.10.2 Industry pitfalls & challenges
3.10.2.1 Limited cooking capacity
3.10.2.2 High competition with numerous brands and models
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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