According to a new market research report published by Transparency Market Research titled “Air Fryer Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” the air fryer market across the globe is anticipated to reach US$ 1110.8 Mn by 2026. The market is expected to expand at a CAGR of 6.8% during the period 2018-2026.
The air fryer market based
on product type includes digital and manual air fryers. The digital air fryer
segment is expected to expand at a faster rate compared to its counterpart. Manual
air fryers are preferred due to their price and easy control. Market share of
digital air fryers is expected to increase due to consumers shifting to
automatic solutions. Demand for smart featured appliances, increase in number
of smaller households, and rising health concerns among end-users leading to
preference for oil free food is expected to accelerate the global air fryer
market during the forecast period from 2018 to 2026.
Based
on application segment, air fryers are segmented into residential and
commercial. The commercial segment is divided into hotels, cafes, and quick
service restaurants. On the basis of distribution channel, air fryers can be
bought either online and offline. Online segment is further sub-segmented into
e-commerce retailers and company's own website. In addition, offline segment is
sub-segmented into hypermarkets, specialty stores, and multi-brand retailers.
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The large
working population and the large number of people in the middle class bracket
are preferring healthier food options. An air fryer is a most modern method of
preparing less oily food. Majority of demand for small consumer appliances
originates from people who prefer latest and technologically advanced products.
Furthermore, greater availability of products and higher awareness regarding
small appliances with smart features drives the demand
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In the
current scenario, a surge in demand for smart air fryers in the global market
is giving tech savvy customers a new reason to buy this product. Though smart
air fryers are sold at high prices, manufacturers are seeing an opportunity in
this segment to create a foothold in the near future. However, there are a few
well established players having strong distribution networks across different regions.
Companies are strengthening their position by continuously investing in
research and development (R&D) to come up with solutions to cater to
customer requirements.
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Based on
geography, the air fryer market has been segmented into North America, Europe,
Asia Pacific, Middle East & Africa, and South America. Europe is the
largest region in the air fryer market. The market in Europe for digital air
fryers is expected to expand at a CAGR of 6.7%. Demand for air fryers in Europe
is likely to grow rapidly in France and the U.K. due to demand from households
and a thriving industrial sector in these countries. According to the report,
the Asia Pacific air fryer market is expected to expand at a CAGR of 7.2% in
terms of revenue. South America and Middle East & Africa are expected to
expand at a CAGR of 6.7% respectively in the air fryer market. The market in
North America is expected to grow at a gradual rate.
The air
fryer market is highly competitive with a large number of players present
across the globe. Some of the leading industry players profiled in the study
include Koninklijke Philips N.V., Tatung Company of America, Inc., De'Longhi
America Inc., Ming’s Mark Inc., Groupe SEB, Avalon Bay, Bajaj Electricals
Limited, American Micronic Instruments, Mayer, and Gorenje.
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