“Global Air Fryer Market to reach a market value of USD 1.5 Billion by 2031 growing at a CAGR of 6.3%”
The Global Air Fryer Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 10,613.96 thousand units, experiencing a growth of 23.7% (2020-2023).
With growing concerns about obesity and related health issues, consumers in the United States and Canada increasingly seek healthier cooking methods that reduce oil consumption. The economic affluence in the region allows for greater investment in advanced kitchen appliances, including higher-end digital air fryers. Furthermore, the widespread adoption of this versatile and convenient cooking appliance has been significantly influenced by the pervasive influence of social media and culinary trends, which have been propagated by food bloggers, influencers, and celebrity chefs. Thus, the North America region acquired 38% revenue share in the market 2023. In terms of volume, the North America region is expected to utilize 7,007.39 thousand units of air fryer by 2031.
Users can easily establish the intended temperature and cooking time, and the air fryer will handle the rest. This hands-off approach is particularly appealing to busy individuals and families who juggle multiple responsibilities and have limited time to spend in the kitchen.
Additionally, smart connectivity facilitates the integration of air flyers with other smart home devices and virtual assistants such as Amazon Alexa and Google Assistant. Voice commands can operate the air fryer, making it even more convenient for multitasking users. Thus, these developments will aid in the growth of the market.
However, the cost of an air fryer may appear intimidating to individuals and families on a limited budget, particularly in comparison to the cost of conventional ovens, stovetops, or microwaves, which are generally more affordable. Hence, while the air fryer market has grown significantly, the high initial cost remains a considerable hurdle.
Based on end user, the market is bifurcated into residential and commercial. The residential segment garnered 57% revenue share in the market in 2023. In terms of volume 8,879.17 thousand units of air fryer are expected to be utilized by 2031. The versatility of air fryers, which can fry, bake, grill, and roast, makes them an attractive multifunctional appliance for home kitchens, saving space and money.
On the basis of distribution channel, the market is classified into hypermarkets & supermarkets, specialty stores, and online channel. The online channel segment recorded 17% revenue share in the market in 2023. In terms of volume 4,225.36 is expected to be sold by online distribution channel by 2031. The shopping experience of consumers for appliances, such as air fryers, has been significantly altered by the proliferation of e-commerce.
By product, the market is divided into digital and manual. The digital segment witnessed 73% revenue share in the market in 2023. In terms of volume 12,214.92 thousand Units of digital air fryer are expected to be utilize by 2031. The driving factors for the digital segment of the market include the growing consumer preference for convenience and advanced technology in kitchen appliances.
Free Valuable Insights: Global Air Fryer Market size to reach USD 1.5 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 25% revenue share in the market in 2023. In terms of volume, the Asia Pacific region is expected to utilize 5,457.08 thousand units of air fryer by 2031. As countries like China, India, and Japan experience economic prosperity, a burgeoning middle class is emerging with greater purchasing power and a desire for modern kitchen appliances.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 945.6 Million |
| Market size forecast in 2031 | USD 1.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.3% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2024 to 2031 |
| Number of Pages | 278 |
| Number of Tables | 650 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Distribution Channel, End User, Region |
| Country scope |
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| Companies Included | Newell Brands, Inc., Koninklijke Philips N.V., Spectrum Brands Holdings, Inc., Breville Group Limited, Wonderchef Home Appliances Pvt. Ltd., TTK Prestige Limited, Havells India Ltd., Cuisinart Corporation (Conair Corporation), GoWISE USA and Nuwave, LLC. |
By Product (Volume, Thousand Unites, USD Billion, 2020-2030)
By Distribution Channel (Volume, Thousand Unites, USD Billion, 2020-2030)
By End User (Volume, Thousand Unites, USD Billion, 2020-2030)
By Geography (Volume, Thousand Unites, USD Billion, 2020-2030)
This Market size is expected to reach $1.5 billion by 2031.
Rising demand for convenient and easy appliances are driving the Market in coming years, however, Limited cooking capacity of air fryers restraints the growth of the Market.
Newell Brands, Inc., Koninklijke Philips N.V., Spectrum Brands Holdings, Inc., Breville Group Limited, Wonderchef Home Appliances Pvt. Ltd., TTK Prestige Limited, Havells India Ltd., Cuisinart Corporation (Conair Corporation), GoWISE USA and Nuwave, LLC.
In the year 2023, the market attained a volume of 10,613.96 thousand units, experiencing a growth of 23.7% (2020-2023).
The Hypermarkets & Supermarkets segment is leading the Market by Distribution Channel in 2023; thereby, achieving a market value of $695.3 Million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $568.8 Million by 2031.
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