Air Fryer Market by End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled, 'Global Air Fryer Market by End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global air fryer market size was $894.3 million in 2018, and is projected to reach $1,425.7 million by 2026, registering a CAGR of 6.1% from 2019 to 2026.

Air fryers are largely used as an alternative to deep fryers. Air fryers uses a minimal amount of oil as compared to traditional deep fryers. The air fryers maintain flavors and textures of food as traditional fryers. Air fryers uses heated air enriched with very fine droplets of oil used for removing the moisture out of the food. Air fryer consists of two major components fan and heating coil. The heating coils are used for heating surrounding air and then circulated with the help of fan.

Rapid growth of the hospitality industry is expected to be the major driver of the global air fryer market. Busy lifestyles have led to changes in the eating habits of the majority of the global population. Changes in eating habits have led to increasing demand for ready-to-eat-food products, which lead to a rise in the number of QSR hotels and restaurants. The end user from HORECA industry are actively seeking for more advanced, compact and effective equipment to increase their efficiency. This increasing demand for such advanced cooking equipment which includes air fryers is anticipated to propel the revenue growth in near future.

Deep frying of food items in traditional fryer often led to formation of toxic compounds such as acrylamide in certain foods such as meat. International Agency for Research on Cancer states that, the acrylamide may have links to the development of cancers such as ovarian, endometrial, breast, pancreatic, and oesophageal cancer. Furthermore, studies suggest that intake of acrylamide have detrimental cancer-causing effects on kidney and it also damages nervous system as well. As a result, by switching to air frying from deep fryers, people can lower the risk of having acrylamide in their food. The growing awareness towards hazardous effect of deep fried food and availability of effective alternatives are expected to boost the revenue growth of air fryer market during the forecast period.

The global air fryer market is segmented into end user, sales channel and region. Depending on end user, the air fryer market is bifurcated into residential and commercial. Based on sales channel the global market is studied across hypermarket & supermarket, specialty store and online sales channel. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA

Key Finding of The Air Fryer Market:
North America leads in terms of air fryer market revenue share and is expected to retain its dominance during the forecast period.
The U.S. was highest contributor to the North America air fryer market, with $323.4 million in 2018 revenue, and is estimated to reach $476.7 million by 2026, growing at a CAGR of 5.0% during the forecast period.
In 2018, based on sales channel, the hypermarket & supermarket segment accounted for about half of the global air fryer market share in 2018, and is expected to grow at the CAGR of 5.2% from 2019 to 2026. However, this segment is expected to lose market share to online sales channel
The online sales channel and specialty store segments are expected to witness significant growth rates at a CAGR of 6.6% and 7.9% respectively, during the forecast period.
The residential end user segments accounted for about 57.8% share of the air fryer market in 2018,and is poised to grow at significant CAGR during the forecast period.
In 2018, based on region, Asia-Pacific is anticipated to grow with robust CAGR of 7.1% during the forecast period.
Some of the key players in the air fryer market analysis includes Koninklijke Philips N.V., BLACK+DECKER Inc., Conair Corporation, Avalon Bay, Breville Group Ltd, Meyer Manufacturing Company Limited, GoWISE USA, NuWave LLC, Groupe SEB, Newell Brands.

Companies Mentioned

• Koninklijke Philips N.V.
• BLACK+DECKER Inc.
• Conair Corporation
• Avalon Bay
• Breville Group Ltd
• Meyer Manufacturing Company Limited
• GoWISE USA
• NuWave LLC
• Groupe SEB
• Newell Brands.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.