Air Fryers Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 1.20 Billion |
| Market Size (2029) | USD 1.54 Billion |
| CAGR (2024 - 2029) | 5.12 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Air Fryers Market Analysis
The Air Fryers Market size is estimated at USD 1.20 billion in 2024, and is expected to reach USD 1.54 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
The air fryers market utilizes hot air circulation to cook food, mimicking a fan oven, and leverages the Maillard reaction for a crispy exterior, offering a healthier alternative. The market is witnessing heightened demand from diverse sectors, including restaurants, hotels, and hospitals, contributing to its growth trajectory. Furthermore, the market's positive momentum is fueled by the increasing popularity of energy-efficient products.
Notably, the air fryer market is experiencing intensified competition, with the entry of new competitors and private label brands. This competitive landscape is driving innovation and product diversification, benefiting consumers. The widespread adoption of air fryers extends to various demographics, including health-conscious individuals, families seeking reduced oil usage, and working professionals seeking quick and convenient meal options. The market's appeal also extends to apartment dwellers and smaller households, attracted by the compact size and versatility of air fryers.
In addition to the existing market dynamics, recent drivers and opportunities contribute to the sector's growth. Evolving consumer preferences, technological advancements, and the emphasis on energy efficiency present promising avenues. The versatility of air fryers aligns with the needs of modern lifestyles, offering a blend of convenience, health-conscious cooking, and efficient energy use.
Air Fryers Market Trends
Digital Air Fryers are Dominating the Market
Digital air fryers feature LCD panels, temperature sensors, programmable thermostat settings, and a variety of cooking modes, including max crisp, air fry, air roast, air broil, bake, reheat, and dehydrate. Such features improve convenience, which raises demand. The manual air fryer, on the other hand, only has grills and standard frying settings. Therefore, in order to ensure product innovation and global market sales, the majority of producers are concentrating on digital air fryers.
North America Dominates The Market
North America dominates the air fryers market due to its large size, increase in the adoption by consumers, and increased awareness about air fryers. The usage of air fryers in the residential sector of North America is increasing due to the growing influence of social media platforms. The food industry in North America also uses air fryers as a healthier alternative to cooking food.
The manufacturers of air fryers in North America are creating innovative air fryers with the integration of artificial intelligence technology to provide convenience to consumers. Therefore, the increasing awareness of eating healthy foods is increasing the growth rate of air fryers in North America.
Air Fryers Industry Overview
The global air fryers market is moderately competitive, with the presence of major international players. The market studied presents opportunities for growth during the forecast period, which is expected to further drive the market competition. The companies in the market are constantly engaged in various developmental activities, such as acquisitions, mergers, partnerships, expansions, and product launches, which increases competitive rivalry.
Air Fryers Market Leaders
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Philips
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Cosori
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Ninja
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Instant Pot
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GoWISE USA
*Disclaimer: Major Players sorted in no particular order
Air Fryers Market News
- June 2023: Midea has launched an 11QT Two-Zone Air Fryer Oven that allows for the preparation of two fully independent meals, or a meal and a side dish, simultaneously. The Midea Air Fryer Oven uses Rapid Air Circulation technology to provide cooking at up to 450 degrees in both the top air fryer basket and bottom oven.
- January 2023: Borosil has launched the BestDigi Air Fryer, which can grill, bake, and air fry, making it a multitasker. It also comes with eight pre-set menus. The unit came with a 4.7-liter basket, weighs 5.1 kg, and with a power consumption of 1300 W.
Air Fryers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Market Opportunities
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness: Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights on Consumer Behavior Analysis in the Market
- 4.8 Insights Into the Latest Trends and Innovations in the Market
- 4.9 Insights on Recent Developments in the Market
- 4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Cylindrical Air Fryers
- 5.1.2 Basket Air Fryers
- 5.1.3 Oven Air Fryers
- 5.1.4 Paddle Air Fryers
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5.2 By Capacity
- 5.2.1 4 Liters
- 5.2.2 12 Liters
- 5.2.3 16 Liters
- 5.2.4 25 Litres and Above
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5.3 By Distribution Channel
- 5.3.1 Multi-brand Stores
- 5.3.2 Exclusive Brand Outlets
- 5.3.3 Online
- 5.3.4 Other Distribution Channels
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5.4 By End User
- 5.4.1 Household
- 5.4.2 Commercial
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5.5 By Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Asia-Pacific
- 5.5.2.1 India
- 5.5.2.2 China
- 5.5.2.3 Australia
- 5.5.2.4 Rest of the Asia-Pacific
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 Rest of the Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of the South America
- 5.5.5 Middle East and Africa
- 5.5.5.1 United Arab Emirates
- 5.5.5.2 Saudi Arabia
- 5.5.5.3 South Africa
- 5.5.5.4 Rest of the Middle East and Africa
6. COMPETITIVE INTELLIGENCE
- 6.1 Market Concentration
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6.2 Company Profiles
- 6.2.1 Philips
- 6.2.2 Cosori
- 6.2.3 Ninja
- 6.2.4 Instant Pot
- 6.2.5 GoWISE USA
- 6.2.6 Cuisinart
- 6.2.7 BLACK+DECKER
- 6.2.8 Dash
- 6.2.9 Chefman
- 6.2.10 NuWave
- 6.2.11 T-fal
- 6.2.12 Hamilton Beach
- 6.2.13 Farberware
- 6.2.14 Bella
- 6.2.15 PowerXL*
- *List Not Exhaustive
7. FUTURE OUTLOOK OF THE SECTOR
8. APPENDIX
Air Fryers Industry Segmentation
An air fryer is a small countertop convection oven that simulates deep frying without the need for oil. This report aims to provide a detailed analysis of the global air fryers market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights into various product types and application types. It also analyses the key players and the competitive landscape in the air fryers market.
The air fryer market is segmented by product type, capacity, distribution channel, end-user, and geography. By product type, the market is sub-segmented into cylindrical air fryers, basket air fryers, oven air fryers, paddle air fryers. By capacity, the market is sub-segmented into 4 liters, 12 liters, and 16 liters. By distribution channel, the market is sub-segmented into multi-brand stores, exclusive brand outlets, online, and other distribution channels. By end user, the market is sub-segmented into household and commercial. By geography, North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America. The report offers market size and forecasts for the air fryers market in value (USD) for all the above segments.
| By Product Type | Cylindrical Air Fryers | |
| Basket Air Fryers | ||
| Oven Air Fryers | ||
| Paddle Air Fryers | ||
| By Capacity | 4 Liters | |
| 12 Liters | ||
| 16 Liters | ||
| 25 Litres and Above | ||
| By Distribution Channel | Multi-brand Stores | |
| Exclusive Brand Outlets | ||
| Online | ||
| Other Distribution Channels | ||
| By End User | Household | |
| Commercial | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Asia-Pacific | India |
| China | ||
| Australia | ||
| Rest of the Asia-Pacific | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Rest of the Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of the South America | ||
| By Geography | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| South Africa | ||
| Rest of the Middle East and Africa |
Air Fryers Market Research Faqs
How big is the Air Fryers Market?
The Air Fryers Market size is expected to reach USD 1.20 billion in 2024 and grow at a CAGR of 5.12% to reach USD 1.54 billion by 2029.
What is the current Air Fryers Market size?
In 2024, the Air Fryers Market size is expected to reach USD 1.20 billion.
Who are the key players in Air Fryers Market?
Philips, Cosori, Ninja, Instant Pot and GoWISE USA are the major companies operating in the Air Fryers Market.
Which is the fastest growing region in Air Fryers Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Air Fryers Market?
In 2024, the Asia Pacific accounts for the largest market share in Air Fryers Market.
What years does this Air Fryers Market cover, and what was the market size in 2023?
In 2023, the Air Fryers Market size was estimated at USD 1.14 billion. The report covers the Air Fryers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Air Fryers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Air Fryers Industry Report
Statistics for the 2024 Air Fryers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Air Fryers analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
