Air Fryer Market Witnesses Strong Growth as Digital air fryer Emerges as a Lucrative Segment, Finds Future Market Insights
In the last few years consumers have become more conscious about their health & fitness. Rising awareness among consumers has spurred the demand for healthier, better quality food, and cooking appliances. Rising global awareness on benefits of having low or no oil food fuels the demand for such appliances which cook food with less oil. Moreover, advancement in technology help manufacturers to come up with innovative solutions for consumers. Wide availability of air fryers on online platforms are expected to drive the global air fryer market. Therefore, a steady growth of 6.8% is expected for air fryer market during the forecast (2019-2027).
Air Fryer Market
A recent market study published by Future Market Insights on the air fryer market offers g...
Key Takeaways from the Air Fryer Market Study
- According to the report, the global air fryer market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on product development & new product launches. In 2019, Philips had launched ‘Philips Airfryer XXL’ with smart sensing technology which automatically adjusts time and temperature settings throughout the whole cooking process.
- FMI identifies Europe as the largest market for air fryers in 2019, followed by North America, attributable to higher demand from consumer’s end who are inclined towards low oil cooking appliances. However, growing urban population, and health & fitness conscious consumers will lead the East Asia market for highest market share by 2027, primarily driven by China.
- Changing lifestyle and rapid urbanization will fuel the air fryer market globally. Digital air fryer are anticipated to remain high on sales owing to advance technological feature associated with the product. Mid-range/ economy air fryers will be the most preferable air fryers in terms of sales.
- Online platforms to become the most lucrative sales channel owing to product comparison, prices, designs, etc. Manufacturers are also focusing on their online sales as it contributes a significant revenue to the overall business of the company. As a part of their business strategy, Philips had started digital scale initiative for both B2B & B2C businesses across the world.
- The air fryer market has increased on account of increasing consumers concerns regarding healthy, sustainable life, and technological advancement. In addition to this, factors such as growth in urbanization, increase in per capita disposable income, healthy food consumption & cooking trend, and online sales also have a positive impact on the air fryer market.
“Key players are anticipated to focus on new product development which will add value to their customers. Advancement in air fryer technology remains the top priority of manufacturers across the globe. Furthermore, upcoming entrants in the air fryer market are specifically expected to focus on incorporation of more advanced technologies mainly which are economical, to grow as a leader in the market.” says an FMI analyst.
Celebrity Endorsement to Encourage Consumer’s Buying Behaviour
Nowadays, innovative advertisement on various online platforms are creating greater brand or company awareness in the minds of young consumers when it is endorsed by a celebrity. Thus, to capture consumer attention and making it more memorable companies are significantly investing on partnership with celebrities to endorse their products. Moreover, the rapid growing trend of selling, and marketing kitchen appliances through celebrity endorsements has demonstrated to be highly effective marketing tool in the recent times. These are the factors anticipated to propel the demand for air fryer in the foreseeable future.
Who is winning?
Some of the key players operating in the air fryer market are Cuisinart, Avalon Bay, Groupe SEB, Koninklijke Philips N.V., De'Longhi S.p.A, Tefal, SharkNinja Operating LLC, DASH (StoreBound LLC), Breville, GoWISE USA, TTK Prestige Ltd, NuWave, LLC, DOMU Brands Ltd.(Vonshef), Stanley Black & Decker, Inc., Pigeon Corporation, and others.
Several leading air fryer players are launching new innovative products to expand their footprint and product portfolio. At present, manufacturers are focusing on R&D to come up with new technologies which can change the market landscape of air fryers.
- In Aug. 2019, SharkNinja Operating LLC had launched new air fryer ‘AG301’ which has splatter shield, temperature-control feature, and cool-air zone to reduce smoke in the kitchen.
Get Valuable Insights into Air Fryer Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global air fryer market, presenting historical demand data (2013-2018) and forecast statistics for the period from 2019-2027. The study divulges compelling insights on the air fryer market based on the product type (manual, digital), end use (residential, commercial), and sales channel (direct sales, supermarket/hypermarket, department stores, specialty stores, online and other sales channel), and price (high, mid-range/economy) across six major regions.
About Consumer Products division of FMI
Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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