The air fryer market is witnessing a huge demand due to increased health issues, including heart disease, inflammatory disorders, digestive issues, skin issues (such as acne), diabetes, and others. Air fryers use less oil for frying compared to traditional deep fryers, which reduces the risk of such diseases. In addition, various other factors support the market's growth significantly. For instance, companies are innovating new products and technologies to further reduce the amount of oils used in frying, integrating touch-screens and low energy-consuming techniques in air fryers, and others. Technological advancements are the primary market driver since they aid in the development of compact, automatic, and user-friendly air fryers that require no-to-minimal assistance while cooking. All such factors are contributing to the growth of the market, and according to OMR Research, the market is expected to grow with a CAGR of 6.9% during the forecast period (2023–2029).
Segments in the Market
The global air fryer market is bifurcated on the basis of product type, end-users, technology, and distribution channel. On the basis of product type, the market is sub-segmented into paddle type, basket air fryer, air fryer, and oven air fryer. Based on the technology, it market is sub-segmented into manual and digital air fryer. On the basis of end-users, the market is sub-segmented into residential and commercial. In addition, on the basis of distribution channel, the market is sub-segmented into online and offline.
Recent Developments
Key companies that operate in the home appliance business, such as Breville USA, Inc., Dash, LLC, NuWave, LLC, Koninklijke Philips N.V., SharkNinja Operating LLC, Xiaomi, Groupe SEB, Cuisinart Corporation, GoWISE USA (Ming’s Mark Inc.), Meyer Manufacturing Company, Ltd., and others, are cooperating in the market’s growth with their new innovative products, investments, mergers, and other activities. Some of the recent activities in the market include:
• In October 2022, Instant Brands, a leading home appliances brand, launched its new product, the Indoor Grill, which has the company’s EvenCrisp technology, which allows 90% less oil use compared to deep frying. The Indoor Grill has unique venting technology that circulates hot air around the food to evenly heat and fry.
• In October 2022, CRUX, a brand from a popular musician “DJ Marshmellow,” announced the launch of an air fryer product called the CRUX-Marshmellow Digital Air Fryer Kit. The air fryer has different cooking modes, such as wings, fries, cupcakes, and the Mello setting (to customize the cooking experience).
• In August 2022, Xiaomi, a consumer electronics company, launched its multipurpose smart air fryer in India. The air fryer has a 24-hour non-stop cooking capacity, Google Assistant, an OLED touch screen, a double-layer non-stick coating, and its temperature can be adjusted between 40 and 200°C. With this, the user can defrost frozen food, ferment vegetables, dry fruits, and make yogurt, apart from air-frying food items.
• In August 2022, Borosil, India’s popular and trusted glassware brand, made its debut in the air fryer segment with its new 4-in-1 air fryer launch in India. The air fryer can grill, bake, fry, and roast food items. According to the company, the air fryer comes with Quick Fry technology that assists in cooking food faster, a non-stick coated steel fryer basket and tray, and 30-minute auto-off function.
• In September 2022, INALSA, a home appliance brand, launched its Dual Basket Air Fryer in India, which will be available on Amazon, Flipkart, and offline retail stores as well. The product offers various features such as 11-in-1 functionality, a digital panel, 50% faster cooking than traditional cookware, up to 200°C temperature, 10-liter capacity baskets, and many others.
• In September 2022, Philips, an electronic manufacturer, launched its new air fryer in India, which is called the Airfryer XL Connected. The product has a temperature range of 80°C to 200°C, a touch screen panel, and seven pre-programmed functions (fry, bake, keep warm, roast, reheat, and grill). In addition, the Airfryer XL Connected can be integrated with Amazon Alexa and the NutriU App (an instruction app for users on how to cook with this air fryer).
• In July 2022, Ninja, a portable kitchen appliance brand, launched the Ninja Speedi Rapid Cooker and Air Fryer. With this new product, the user can either steam or fry their food, or both at the same time. Besides, the product has the Rapid Cooker Mode that allows for whole roasts.
Conclusion
Increasing consumer health consciousness and the use of oil-free meals to decrease body cholesterol levels are pushing the development of air fryer devices. Furthermore, increased expenditure on household appliances, increasing urbanization, and access to substantial product-related research, including design upgrades and innovative features, are crucial drivers for the global sales of air fryers. Besides, nowadays, social media, blogs, and websites also feature health and wellness trends that promote low- or no-oil diets and their associated benefits. All of these factors prompt the population to choose air fryers over traditional fryers, resulting in high market growth.