Air Fryer Market
Global Industry Analysis (2017 – 2020), Growth Trends and Market Forecast (2021 – 2025)
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A Conscious Dietary Shift away from Fried Food Encourages Air Fryer Sales
Air fryer sales are rocketing worldwide over the recent past. While technological advances are predominantly driving adoption at commercial kitchens within the hospitality industry, the rapid pace at which household kitchens are getting a sophisticated makeover also remains a significant factor fuelling the growth of the global air fryer market. Looking at the potential health risks associated with (deep-) fried food consumption, the lesser oil and fat content of air-fried food in contrary to its traditionally cooked/deep-fried counterparts clearly makes the former more desirable amongst health-conscious consumers. The Centers for Disease Control and Prevention (CDC) suggests that nearly 38% of adults have high cholesterol in the America alone. Over 7% of the children, and adolescents in the country also have high total cholesterol.
The correlation between fried food, and high average cholesterol levels further extends to an elevated risk of cardiovascular diseases, stroke, diabetes, and even rheumatoid arthritis, and kidney ailments. A collaborative research conducted by the Department of Nutrition at Harvard School of Public Health (HSPH), and An Pan of the National University of Singapore’s Saw Swee Hock School of Public Health clearly indicates that the risk of acquiring heart disease(s), and type 2 diabetes remains higher among those who frequently consumer fried food. With ascending awareness about the significance of blood sugar control, and cholesterol regulation, people are shifting away from fried food, showcasing greater preference for alternative cooking methods instead. In line with this, air fryers that present a desirable alternative to an expanding health-conscious population have been garnering rising attention worldwide. The global air fryer market is thus set for a robust growth outlook over the forecast period.
Asia Pacific Holds Robust Potential for Air Fryer Market Expansion
The US, being an early adopter, remains a market for air fryer sales. Strong presence of top brands, and surging R&D investments are expected to account for the top market position of the US. On the other side, Germany continues to dominate the European market on the back of strong positioning of brands like SharkNinja, Philips, and Prestige, as well as that of the world’s ecommerce giants. Asia Pacific however is emerging as a lucrative revenue generation pocket for manufacturers.
The New England Journal of Medicine (NEJM) recently published a research that discusses how preventive interventions have been looking at blood cholesterol as a prime risk factor, and how higher non-HDL cholesterol levels are linked to a sizeable number of deaths all over the globe. Predominant across the wealthy western economies earlier, high blood cholesterol has been changing its prevalence pattern over the past few decades. Attributing to its changing behavioural, and dietary determinants worldwide, the epicentre of an average high cholesterol, and lipid-related risk has been repositioned across developing Asian countries. In the past four decades, the prevalence of this trend has reduced in Western countries, showing a dramatic increase across East and southeast Asian countries. The statistical data points to the tremendous scope for growth of the air fryer market in developing economies of Asia Pacific. Moreover, an expanding Asian population is considering home kitchen transformation with modern kitchen appliances. Rising awareness about the availability of versatile yet budget air fryer models on the market is also supporting the market growth in the region. This provides a fertile ground for air fryer brands to penetrate deeper with newer design features, and technological innovations.
A Growing Role of Online Sales Channel
Ecommerce expansion has been majorly influencing air fryer sales. Behemoths like Amazon, and Flipkart are likely to empower consumer inclination towards air fryers, and other smart appliances, contributing heavily to global sales in addition to individual brand e-tailers. However, the flourishing e-sales continue to face the challenge of product counterfeiting to a large extent.
Strategic Efforts Concentrated in Innovative Digital Models; New Launches Prevail
Key market players prefer to adhere to periodic new product launches as an organically advantageous strategy that keeps them moving through the competition. Stanley Black & Decker, Inc., in collaboration with Stovekraft Pvt. Ltd., launched a new line of air fryers in addition to multiple other kitchen appliances in 2017. While the global landscape remains highly fragmented, market leaders are accelerating integration of novel technologies to deliver exceptional functional features to both residential, as well as commercial end-use sectors. Bluetooth, and Wi-Fi connectivity is sought-after among consumers. Energy-efficient models are also gaining traction.
Technological innovations continue to represent the most prominent trend driving competition among the active brands in the air fryer market. It was Newell Brands’ Oster to introduce a highly durable, faster-cooking air fryer DuraCeramic (2018). The appliance has multiple features, including a non-stick rotating bowl, and tilt function. Surpassing the cooking capacities of an ordinary/traditional air fryer, SharkNinja launched a novel model with a two-basket cooking system that enables simultaneous cooking of two different items in two different ways (2020). This Ninja Foodi 2-Basket is equipped with the DualZone technology and has the capacity of 8-quart. Chefman’s recently introduced 8-quart TurboFry Touch Air Fryer has an extra-large viewing window, a large digital display, and capacitive touch controls. It also features an LED shake reminder. The model has been reportedly recording excellent sales, especially online. Key companies are also expected to focus on innovating their own bestselling models to suit mass production, targeting their inclusion in economical offerings.
Key Market Players Go Hybrid to Satiate Mounting Customer Demand for ‘More’
With hybrid appliances garnering greater popularity with each newly launched model on the market, makers of air fryers, and other household appliances are participating in the trend wave. Compact designs, multi-functional air fryers will mostly be in vogue. Hybrid oven models with an air fry feature are currently rocketing in popularity, and many among them fit in an affordable price range. SharkNinja’s Ninja Foodi Tendercrisp (2019) is a compact air fryer-pressure cooker hybrid that blends the best of both the worlds, and serves as a smart cooking, as well as crisping machine. Xiaomi recently launched the MIJIA Smart Air Fryer 3.5 L with functionality features of an oven, a fruit presser, a yoghurt maker, and a microwave. Philips’ smart sensing technology-enabled Airfryer XXL also possesses a unique excess fat removal technology. The baking, toasting, and grilling capacities add more value to the appliance. Some of the latest air fryers by Cosori, Instant Pot, ShrakNinja, and The Dash practically take the hybrid capacity to another level. Most of them are featured to reheat, roast, dehydrate, broil, bake, toast, pressure cook, slow cook, steam, preheat, sauté, and rotate.
Prominent Players Driving Competition in Global Air Fryer Market
Koninklijke Philips N.V., The Dash, Cuisinart Corporation (Conair Corporation), SharkNinja Operating LLC (CDH Private Equity), Instant Pot, Chefman, Power XL, Cosori, GoWISE USA (Ming’s Mark Inc), Bajaj Electricals Ltd., Stanley Black & Decker, Inc., Breville Group Limited, Groupe SEB, Mayer, NuWave, LLC, De’ Longhi Appliances S.r.l., Havells India Ltd., TTK Prestige Ltd., KRUPS, AvalonBay, Newell Brands, TATUNG Company of America, Inc., American Micronic Instruments (India) Private Limited, Gorenje, Homeleader, Gourmia, Inc., DomuBrands Limited, Living Basix, Wonderchef, and Farberware