Launch of novel technologies aimed at assisting consumers to lead a healthy lifestyle is fuelling air fryer sales.
Dubai, United Arab Emirates - May 17, 2021 /MarketersMedia/ —
The global air fryer market is projected to expand at a positive CAGR through 2031, owing to the rising demand for novel technology kitchen appliances within residential sector, evaluated ESOMAR-certified consulting firm Future Market Insights. Technological advancements in features such as LED screens, intelligent sensors, and touchpads are driving the demand for energy efficient- air fryer appliances.
According to the study, rising preference among consumers for oil-free food and high spending on home appliances is expected to boost the market demand. Manufacturers are focusing on incorporating advanced product features to generate lucrative opportunities. Furthermore, surging demand for technology-led products for kitchen appliances within residential sector is bolstering the growth of air fryer market. Increasing consumer inclination towards eco-friendly and energy efficient products is also accelerating the digital air fryer sales.
“Soaring demand for appliances incorporated with latest technology and multi-functional cooking features is amplifying digital air fryers sales,” remarks the FMI analyst.
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Key Takeaways
Digital air fryers expected to generate around 26% of revenue share by 2021
Online sales channel to witness remarkable growth rate of 14.5% CAGR through 2031
Improving lifestyle to drive the revenue for residential application segment
Increasing adoption of smart kitchen appliances and modular aesthetics to increase air fryer sales across United States
Germany is expected to lead the European air fryer market
India is anticipated to witness strong growth through 2021 and beyond, followed by China and Saudi Arabia
Australia to be the most lucrative market in Oceania region backed by well-established manufacturing companies
Prominent Drivers
Rising number of health-conscious people opting for oil-free food is driving the demand of air fryers
Growing working population and increasing awareness about smart features kitchen appliances is expected to aid the air fryer market sales
Key Restraints
High cost and limited number of cuisines recipe available for cooking is likely to limit the growth
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Competitive Landscape
Leading players profiled by FMI operating in air fryer market include Koninklijke Philips NV, Stanley Black & Decker Inc., Breville Group Limited, Groupe SEB, SharkNinja Operating LLC, Cuisinart Corporation, Meyer Manufacturing Company Limited, GoWISE USA, NuWave LLC, and De Longhi Appliances SRL among others. According to FMI, the market is highly fragmented with intense competition. Leading players are focusing to integrate novel technologies to maintain the competitive edge in the industry.
For instance, on March 4th 2021, Xiaomi launched the MIJIA Smart air fryer of 3.5L under crowd funding with several functions of different appliances packed in one such as microwave oven, fruit presser, yogurt maker and so on.
Likewise, in November 2020, LG launched LG Air Fry InstaView ThinQ Range available in Canada.
More Insights on FMI’s Air fryer Market
The latest market study on global air fryer market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of device type (manual and digital), wattage (below 1200 watt, 1200-1500 watt, 1500-1800 watt, 1800-2200 watt, 2200 wattage & above), end-use (commercial and residential), price range (below US$ 25, US$ 25-US$ 100, US$ 100-US$ 200, US$200-US$300, and US$ 300 & above), sales channel (direct sales, supermarket/hypermarket, department stores, specialty stores, online retailers, and other online sales channel), and across major regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East & Africa).
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/air-fryer-market
Source: MarketersMedia
Release ID: 89015797
