Air Fryer Market Size to Exceed US$1 Billion by 2030, Predicts Fairfield Market

The Global Air Fryer Market is Undergoing Sizeable Expansion with Strong Demand from Dining Establishments, Lodging Facilities, and Medical Facilities. Growing Boom Around Energy-efficient Products will Extensively Favour Market Growth.

London, March 12, 2024 (GLOBE NEWSWIRE) — Global air fryer market is likely to experience a promising surge, expanding at a value of US$1,707.4 Mn by 2030, marking a significant increase from US$983.5 Mn in 2023. Market expansion is impelled by a healthy CAGR of 8.2% during the projection period, estimated by a recently published report by Fairfield Market Research.

Air fryers are no longer just a healthy option to deep fryers. The current air fryer is multipurpose; it can toast, grill, broil, and roast food. Brands are taking advantage of this trend by providing a wide range of multipurpose air fryers, which are becoming increasingly popular among customers looking for convenience and value in a single product. Future consumer preferences and technology trends are expected to hasten the transition to multipurpose air fryers.

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REPORT SCOPE

Key factors anticipated to boost the air fryer market growth are growing health consciousness and knowledge of eating a healthy diet. The air fryer market is expected to grow quickly in Asia Pacific, and Latin America, with China, and India leading market penetration. Manufacturers are spending significantly on marketing, and promotional initiatives to boost sales and brand awareness, viewing these locations as potential resources.

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“Advances in technology have led to improvements in air fryer design and functionality, making them more efficient and user-friendly. Modern air fryers often feature digital controls, programmable settings, and pre-programmed cooking modes, allowing users to easily customise their cooking experience and achieve consistent results,” says the company analyst.

Air fryers consume less energy compared to conventional ovens and produce less waste, as they do not require disposable cooking oil for frying. The air fryer market is highly competitive, with manufacturers constantly innovating to differentiate their products and attract consumers. This competition has led to the introduction of features such as larger cooking capacities, improved airflow systems, and accessories that enhance the versatility and performance of air fryers.

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Key Research Insights

• The 1200-1500 Watt segment is anticipated to dominate in terms of market share for air fryers globally.

• North America is anticipated to account for the largest share of the global air fryer market.

• The market in Asia Pacific for air fryers is expanding with the fast industrialisation of emerging nation.

• The digital category dominated the industry in 2023.

Insights into Segmentation Analysis

Residential Sector Leads Adoption

• The residential segment dominated the market in 2023. Due to changes in lifestyle and increased disposable income, residential end users are becoming increasingly interested in home cooking and healthy eating.

• The popularity of smart portable gadgets among household users is surging in the market.

• The commercial category is expected to experience the fastest growth within the forecast time frame. Due to their limited capacities, many air fryer models are designed to serve no more than five people at a time. As a result, producers are increasingly concentrating on releasing larger models.

• The commercial sector, which includes lodging facilities, dining establishments, and medical facilities, has been the main source of demand for these product offerings, supporting the expansion of the industry.

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