Global
Air Fryer Market: Snapshot
Urbanization
has spread radically across the world in the recent past,
particularly in the BRICS nations. One of the common demerits of
urbanization is restless lifestyle, which is leading to ill-eating
habits of larger masses than ever before. Cases of diabetes and
cardiovascular diseases are on the rise but at the same time,
ubiquity of smartphones and outreach of social media has helped raise
the awareness regarding the controlled usage of oil in daily meals.
Consequently, the advent of air fryer, which is basically a device
that uses hot instead of oil to fry food ingredients, has been a boon
and in the near future, the demand for the same is expected to
multiply at a prominent CAGR during the forecast period of 2017 to
2025.
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This
report by Transparency Market Research aims to act as a
decision-making business tool for its targeted audiences such as
consumer goods manufacturers, investment banks, food and beverage
industry players, and government agencies. Every major market dynamic
that will define the demand in the global air fryer market has been
thoroughly analyzed and their eventual impact has been forecasted.
The analysts of the report has understood the value of breaking down
the lucrativeness of the market into smaller segments as well as
thrown details on how the current competitive landscape is. The air
fryer market is fairly new but the sheer health benefits it can bring
is sure to attract many more manufacturers in the near future, which
will further intensify the competition. The report also dives into
evaluating the demand potential that every important region and
country is exhibiting. This chapter is expected to provide
quantitative and qualitative information to the audiences of various
verticals and regions.
Air
Fryer is a cooking appliance which was first introduced in the market
by Philips. The Air Fryer uses rapid air technology to cook the food
by blowing hot air on the food. The hot air circulated around the
food is around 200 Celsius, which helps to cook the food without or
with a very little amount of oil. The air fryer has brought a
revolution in the way of cooking food. Many health conscious
consumers are preferring such products as the food prepared in air
fryer is very healthy. Most of the air fryer now a day comes with a
knob which helps to control the temperature and allows more precise
cooking.
Market
Segmentation:
Air
fryer market has been segmented on the basis of application,
distribution channel and region. On the basis of application, the air
fryer market is segmented into HoReCa and Household. Among both the
segments, HoReCa is expected to account the maximum value share. On
the basis of distribution channel, the air fryer market is segmented
into hypermarket/supermarket, specialized stores, convenience stores,
online stores and others. Online stores are partnering with big
brands and are offering the lips care products with attractive
pricing in order to cater to increasing demand of air fryer.
Competition is also expected to intensify in the market in the
forecast period mainly due to the presence of other players offering
air fryer products at reasonable prices.
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Market
Regional Outlook:
Regional
segment for air fryer market includes five different regions: North
America, Latin America, Europe, Asia Pacific including Japan and
Middle East & Africa. Among all these region, North America is
expected to account the major market share internationally, as the
consumers in this region are becoming more health conscious and
prefer oil free food products. In North America, U.S. is generating
the major revenue. This product is also gaining traction in the Asia
Pacific region and is expected to grow at a higher CAGR in the air
fryer market.
Market
Drivers:
The
growing number of health conscious people around the world is
expected to drive the global air fryer market. Consumer preference
for oil free food item has also grown over past four to five years,
as it is cholesterol free or has very less amount of cholesterol in
it. Advertisements in various social media, endorsements done by
celebrities are growing at a faster pace, because of which the demand
for air fryer is also increasing, all such reasons are helping the
market to grow over the forecast period at a significant rate.
Increasing opportunities and technology innovations in the industry
is also another factor in driving the air fryer market. The rising
economic growth in developing economies has been a key factor driving
the growth of the global air fryer market in recent years.
Availability of a vast range of air fryer is resulting in increasing
consumer base and this is expected to fuel market growth in the
coming years. The use of various internet medium is further expected
to boost the growth of the industries offering air fryer. In order to
expand global presence, several companies have already entered into
mergers to increase the production of air fryer products, this kind
of steps are expected to drive the market of air fryer over the
coming years.
Market
Key Players:
Some
of the key players in air fryer market are Koninklijke Philips N.V.,
Bajaj Electricals Limited, Pigeon Corporation, Kenstar India Pvt Ltd,
TTK Prestige Limited, American Micronic Instruments, Inc., Usha
International Ltd and Havells India Limited among others.
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