Air Fryer Market Size

Air Fryer Market Size

Air Fryer Market was valued at USD 981.3 million in 2022 and is projected to grow at a CAGR of over 7% between 2023 and 2032. Advanced technologies are expanding the market size of air fryers by introducing features such as digital touchscreens, mobile app control, and smart cooking presets. These innovations provide precise cooking control and convenience, which are appealing to tech-savvy consumers. For instance, in September 2023, Xiaomi launched the Mijia Smart Air Fryer 6.5L Tender Roast Edition in China. This innovative product features an intelligent misty tender roasting mode, enhancing moisture retention by 23%. It also offers a high-temperature defatting mode that increases defatting by 116%, ensuring diverse cooking options with crispy exteriors and tender interiors. Thus, these features cater to various culinary preferences.

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The growing global awareness of the importance of healthy eating is fueling the air fryer industry growth. Consumers seek alternatives to traditional deep frying, which often involves excessive oil and calories. Air fryers offer a healthier cooking method, using hot air to create crispy textures with minimal oil. For instance, in May 2023, Hafele unveiled the NOIL Air Fryer for nutritious dishes. It offers convenience with its eight pre-set programmed recipes for quick selection. Consumers can customize the time and temperature for personalized cooking. The smart Rapid Air Technology maintains the ideal temperature for crispy outsides and tender insides while using 90% less fat. Its aerodynamic fry basket ensures even cooking and a shake reminder prompts occasional basket shaking for optimal frying results, thus making it a versatile & user-friendly kitchen appliance.

The air fryer industry faces a significant challenge of high competition with numerous brands and models. With many players such as Philips vying for market share, it becomes increasingly challenging for companies to differentiate their products. This fierce competition often results in price wars and product saturation, making it difficult for consumers to make informed choices. Manufacturers need to focus on innovation, quality, and effective marketing strategies to stand out in this crowded marketplace.