Global Air Fryer Market
Global air fryer market report gives comprehensive outlook on air fryer across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of product, end user, sales channel, and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in air fryer.
Global Air Fryer Market:
The global air fryer market is expected to be valued at US$ 691.3 Mn in 2019 and growing at a CAGR of 6.8% over the forecast period (2020-2026) owing to increasing demand for low-fat meals coupled with growing health consciousness and healthy diet are anticipated to drive the growth of the market over the forecast period. Moreover, introduction of innovative products with advanced features and increasing demand for e-commerce retailers is expected to drive the growth of the market. Additionally, digital platforms play vital role in changing behavior of the people and most of the people rely on online platform which created significant demand for the products in the market.
Health Concerns and Growing Awareness
The increasing health concerns and growing awareness among the population regarding health diet is the major factor driving the growth of the market. The air fryer significantly reduces the overall calorie intake and is reduced by 70% to 80%, also time-efficient is more advantageous over deep-frying. However, the air frying is produced at high temperatures at very rapid rate which burns food extremely and the food that is charred may be carcinogenic.
Europe dominates the market share in the global market
Europe contributed significant share of revenue followed by Asia Pacific, and North America in the global market. In 2019, Europe region accounted for highest share and is anticipated to grow with a significant CAGR over the forecast years owing to increasing demand for new products coupled with introduction of large number of air fryer products with various features are anticipated to drive the growth of the market. Asia Pacific is expected to grow with highest CAGR over the forecast period owing to increasing health consciousness coupled with rising disposable income is anticipated to drive the growth of the market over the forecast period.
Key player’s profiles in the global market include:
- Koninklijke Philips N.V.
- TTK Prestige Ltd.
- SharkNinja Operating LLC
- DASH (StoreBound LLC)
- Breville, Inc.
- Havells India Ltd.
- Market players have witnessed the advancements of technology and launch of new air fryer products to strengthen their position in the air fryer market across the globe.
- In September 2019, Philips has introduced the new Philips Airfryer XXL with Smart Sensing technology simplifies the cooking process by removing the uncertainty.
- In October 2013, Havells has launched “Profile Air Fryer” which is a revolutionary product that use rapid air technology or hot air which facilitates cooking of deep fried food without using oil.
Key Findings of the Report:
- Global market expanding at significant CAGR over 2020 to 2026 owing to growing awareness regarding health and rising disposable income.
- Based on region, Europe accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on advanced technologies and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By End User
By Sales Channel
- Hypermarkets & Supermarkets
- Specialty Store
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA