Global Air Fryer Market Size, Share, Growth Analysis, By Product(Digital and Analog), By End User(Residential and Commercial) - Industry Forecast 2024-2031

Global Air Fryer Market size was valued at USD 708.53 Billion in 2022 and is expected to grow from USD 759.54 Billion in 2023 to reach USD 1324.68 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

This market's expansion is mostly being driven by the introduction of new items with improved designs. Additionally, it is anticipated that growing consumer interest in the product would be driven by rising health consciousness and awareness of the benefits of eating a balanced diet. The market's predicted expansion has also likely been aided by the high demand from restaurants, hotels, and hospitals. The rising demand for energy-efficient products is also anticipated to positively affect market expansion. The overall retail sales of home and household appliances are expected to top USD 500 billion by the year 2024, according to a prediction made by Haier Smart Home. With total retail sales over 87.9 billion dollars, major kitchen appliance sales account for one of the largest market shares. Due to a number of causes, the air fryer industry is expanding globally. Conspicuous causes include growing knowledge of the negative effects of consuming foods and fats high in oil on cholesterol levels and cardiovascular health. Other elements supporting the market's expansion include increased disposable income, the availability of low-cost EMI, rising urbanisation, shifting lifestyles, and rapidly expanding middle-class segments. This market's expansion is mostly being driven by the introduction of new items with improved designs. Additionally, it is anticipated that growing consumer interest in the product would be driven by rising health consciousness and awareness of the benefits of eating a balanced diet.

The air fryer market has undergone phenomenal expansion during the last few years attributable to rising health consciousness among consumers and increasing choice of healthier cooking options. Air fryers have become fashionable due to the fact that as they provide an easy and convenient way to have fried foods using considerably less oil they allow the consumers reduce their fat intake and live a healthier life. The central reason for the existence of market is to satisfy the customer need for a healthy replacement of deep-fried product, complying with the growing trend of healthy food. Among the main determinants promoting market's expansion is growing awareness of health problems associated with highly fatty food, which forces people to look for Healthier cooking ways.

Nonetheless, the market faces a few of the constraining factors and obstacles which may inhibit the expected growth path. This issue is the relatively high initial cost of air fryers vis-a-vis traditional cooking appliances, which may keep thrift consumers from making a purchase. In addition, the concern on the difference in taste and texture between air-fried food and their deep-fried counterparts is also a problem for market expansion as some people may think air-fried food is less flavorful or crispy.

In the face of these struggles, the market provides a lot of room for growth and development. Manufacturers are now more directed towards product developments and technological innovations to handle consumers’ apprehensions and boost the efficiency of air-fryers. For example, the recent addition of smart features, which include programmable settings and smartphone connectivity in air fryers, has made these appliances more attractive to tech-savvy consumers who prefer the convenience of customization in their cooking. In addition, the expanding choice of air fryer accessories and recipe books bring additional flexibility and attractiveness to the air fryer product, winning trust of more consumers thanks to the availability of new culinary skills.