Air Fryer Market Growth, Trends, Size, Share, Demand And Top Growing Companies 2030

Global air fryer market is projected to witness robust growth, reaching a value of US$1,707.4 million by the year 2030, reflecting a promising rise from the US$983.5 million recorded in 2023. This growth is expected to be driven by several key factors including the increasing health consciousness among consumers, rising demand for convenience, and the integration of advanced technologies like AI and IoT into household appliances.

Enhanced Designs Driving Market Growth One of the key trends fueling the growth of the air fryer market is the launch of novel products with enhanced designs. Manufacturers are catering to the growing demand for sleek and innovative kitchen appliances, attracting consumers who prioritize both functionality and aesthetics.

Strong Demand from Commercial Sector The market is also witnessing strong demand from lodging facilities, dining establishments, and medical facilities. This demand is attributed to the efficiency and energy-saving features of air fryers, making them increasingly popular in commercial kitchens.

Dominance of Digital Category In 2023, the digital category dominated the air fryer market, driven by the demand for automatic cooking equipment in affluent nations such as Germany, Canada, and the US. This segment is expected to continue growing rapidly, offering consumers greater convenience and control over their cooking processes.

Preference for 1200-1500 Watt Segment Among the various wattage segments, the 1200-1500 Watt category is anticipated to dominate the market. This is attributed to the optimal power range for air fryers, providing efficient cooking results while minimizing energy consumption.

Residential Sector Driving Demand The residential category emerged as the dominant segment in 2023, fueled by lifestyle changes and increasing disposable incomes. Air fryers are becoming a popular choice among residential consumers seeking healthier cooking alternatives.

Growth in Premium Segment The US$100 - US$200 category is witnessing high demand in the market, particularly among discerning consumers seeking premium features and higher capacities. Premium air fryers offer advanced functionalities such as voice control, multiple preset settings, and durable construction, catering to the needs of modern households.

North America Leads Market Expansion North America, particularly the US, is expected to account for the largest share of the global air fryer market. The region's adoption of modular aesthetics and smart kitchen appliances is driving sales, as consumers prioritize convenience and health-conscious cooking methods.

Expansion in Asia Pacific The air fryer market in Asia Pacific is poised for significant growth, fueled by rapid industrialization, increasing foreign direct investments, and rising consumer spending on home appliances. Countries like China and India are leading market penetration, presenting lucrative opportunities for manufacturers.

Key Growth Determinants:

• Growing Health Consciousness: Air fryers offer a healthier alternative to traditional cooking methods, reducing oil consumption and preserving nutrients in food.

• Consumer Urge for Convenience: Air fryers provide convenience and ease of use, appealing to urban consumers with busy lifestyles.

• Integration of AI and IoT: Advanced technologies are transforming air fryers into smart appliances, offering personalized cooking experiences and enhanced convenience.

Major Growth Barriers:

• Expensive Starting Prices: The high initial cost of air fryers may deter budget-conscious consumers from purchasing the product.

• Variable Cooking Outcomes: The learning curve associated with air fryers and the possibility of inconsistent cooking results may discourage potential buyers.

Key Trends and Opportunities:

• Penetration Across Emerging Markets: Developing economies in Asia Pacific and Latin America present significant growth opportunities for the air fryer market, driven by rising disposable incomes and technological advancements.

• Multipurpose Devices: Manufacturers are introducing multipurpose air fryers capable of toasting, grilling, and roasting, catering to consumers' demand for versatility and convenience.

• Smart and Connected Technologies: Integration of smart features like voice control and WiFi connectivity is expected to drive market growth, as consumers seek more advanced and connected kitchen appliances.

Regional Frontrunners:

• North America: The region dominates the air fryer market, fueled by increasing demand for healthier cooking alternatives and the adoption of smart kitchen appliances.

• Asia Pacific: Rapid industrialization and rising consumer spending on home appliances are driving market expansion in countries like China and India.

Leaders in Global Air Fryer Space:

1. Koninklijke Philips N.V.

2. Breville Group Limited

3. Groupe SEB

4. SharkNinja Operating LLC (CDH Private Equity)

5. Cuisinart Corporation (Conair Corporation)

6. Meyer Manufacturing Company Limited

7. GoWISE USA (Ming’s Mark Inc)

8. NuWave, LLC

9. De’ Longhi Appliances S.r.l