The global air fryer market size is anticipated to reach USD 1.05 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a healthy CAGR of 7.0% over the forecast period i.e., from 2019 to 2025. The introduction of innovative products with improved designs is the key factor driving the growth of this market. The growth of the market is also anticipated to be boosted by strong demand from restaurants, hotels, and hospitals. In addition, it is anticipated that the high demand for energy-efficient products would have a positive effect on consumer expansion.
Based on product type, the digital air fryer segment held the largest market share in 2018 and will retain its dominant position throughout the forecast years. The segment is also estimated to register the fastest CAGR from 2019 to 2025 due to the increasing demand for energy-efficient kitchen appliances. It is projected that the availability of advanced feature devices, such as a touch screen display, quick preheating, and temperature control knob, would fuel the market for digital air fryers. Recently, in July 2020, Shark Ninja launched a new Ninja Foodi 2-Basket Air Fryer. The air fryer uses a two-basket cooking system for additional flexibility relative to conventional air fryers. The 8-quart power air fryer with DualZone technology allows the user to cook two meals in two ways, and finish at the same time.
The offline segment held the leading market share in 2018. High product visibility and an increasing number of retailer stores, such as Walmart, in developing countries including India and China, is the main factor driving the growth of this segment. The online distribution channel segment is anticipated to expand at the fastest CAGR from 2019 to 2025. The rising popularity of e-commerce retailers, such as Amazon.com, is the key factor in boosting product sales through online channels.
Air Fryer Market Report Highlights
1.The digital air fryer segment held the largest market share in 2018 owing to the increased demand for automatic cooking appliances in developing countries, such as the U.S., Canada, and Germany. The segment is expected to exhibit the highest CAGR during the forecast period.
2.The offline distribution channel was the leading segment in 2018. High product visibility and an increasing number of retailer stores, such as Walmart, in developing countries including India and China, are some of the key factors driving the growth of this segment.
3.The increasing success of e-commerce retailers, such as Amazon.com, is a crucial factor in boosting product revenue across online platforms. In addition, various offers and cashback promotions offered by online retailers help boost the sales of the product.
4.Europe led the regional air fryer market in 2018. It is also expected to remain dominant during the forecast years owing to the increasing health-conscious of individuals in the region leading to high demand for the product.
5.The Asia Pacific region is expected to witness the fastest CAGR of 8.7% from 2019 to 2025. Increasing consumer disposable income levels in emerging countries along with rising health consciousness is the key growth-driving factor.
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Grand View Research has segmented the global air fryer market on the basis of product, distribution channel, and region:
Air Fryer Product Outlook (Revenue, USD Million, 2015 – 2025)
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Manual
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Digital
Air Fryer Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
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Offline
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Online
Air Fryer Regional Outlook (Revenue, USD Million, 2015 – 2025)
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North America
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U.S.
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Europe
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Germany
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U.K.
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France
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Asia Pacific
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China
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India
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Central & South America
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Brazil
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Middle East & Africa
List of Key Players of Air Fryer Market
• Koninklijke Philips N.V.
• Cuisinart
• SharkNinja Operating LLC
• DASH (StoreBound LLC)
• Breville, Inc.
• Havells India Ltd.
• TTK Prestige Ltd.
• KRUPS
• NuWave, LLC.
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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