According to Fortune Business Insights, the global air fryer market was valued at USD 8.07 billion in 2024 and is anticipated to reach USD 17.71 billion by 2032, expanding at a CAGR of 9.47% during the forecast period.
This growth is driven by rising health awareness, a shift toward oil-free cooking, demand for energy-efficient kitchen appliances, and the increasing adoption of smart cooking technologies.
Asia Pacific dominated the global market in 2024, capturing a 46.22% share, with countries like China, India, and Japan showing high adoption rates due to urbanization and increased disposable income.
Key Market Players
- Groupe SEB (France)
- Midea Group (China)
- Koninklijke Philips N.V. (Netherlands)
- Xiaomi Corporation (China)
- Spectrum Brands, Inc. (U.S.)
- Faber S.p.A. (Italy)
- Conair Corporation (U.S.)
- Meyer Corporation (U.S.)
- TTK Prestige Ltd. (India)
- NuWave, LLC. (U.S.)
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Key Market Drivers
Growing Demand for Energy-Efficient & Smart Appliances
The shift toward sustainable living and DIY kitchen upgrades has accelerated demand. In the U.S., DIY kitchen improvements rose from 39% (Q2 2022) to 46% (Q2 2023).
Advancements in Smart Cooking Technologies
Manufacturers are introducing air fryers with voice assistant integration, app controls, and multi-cooking presets.
Example: Cosori’s Smart TurboBlaze 6-Quart Air Fryer launched in September 2024 with 10 presets and smart features.
Rising Health-Conscious Consumer Behavior
Oil-free cooking and social media promotion of healthy air fryer recipes are encouraging higher adoption, especially among younger demographics.
Market Restraints
High Costs: Premium smart models remain expensive for price-sensitive markets.
Competing Appliances: Traditional ovens and microwaves serve as practical alternatives.
Skepticism: Some consumers question the true health benefits of air fryers.
Opportunities
Eco-Friendly Innovations: Manufacturers can gain traction by offering low-carbon, sustainable appliances.
Customization & Capacity Expansion: Features like dual baskets, custom colors, and larger sizes can drive brand loyalty.
Challenges
Rapid Obsolescence: Frequent innovation results in shorter product lifecycles.
Usage Misconceptions: Limited knowledge about features and benefits may hinder satisfaction among new users.
Emerging Market Trends
Vegan & Plant-Based Meal Prep: The shift to plant-based diets is boosting demand for healthier cooking tools like air fryers.
Influencer Collaborations: Marketing via TikTok, YouTube, and Instagram chefs is accelerating product popularity.
Segment Overview
By Type
Digital Air Fryers: Leading the market in 2024 for their smart features and multifunctionality.
Manual Air Fryers: Gaining traction in developing regions due to affordability.
By Model
Basket-Style Models: Most popular due to ease of use and affordability.
Multi-Cookers & Countertop Air Fryers: Rising in demand for compact size and diverse functionality.
By Capacity
3–5 Liters: Most preferred by small families.
Up to 3 Liters: Ideal for single users and RV owners.
Above 6 Liters: Increasingly used in commercial kitchens and food services.
By Distribution Channel
Supermarkets & Hypermarkets: Dominant in 2024 due to broad accessibility.
Online Platforms: Fastest-growing channel driven by e-commerce and influencer marketing.
Specialty Stores: Preferred for personalized advice and post-sale support.
By End User
Households: Largest segment due to lifestyle changes favoring healthy cooking.
Foodservice Outlets: Adopting industrial-size air fryers to cater to health-conscious customers.
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Regional Insights
Asia Pacific – Market Leader
Valued at USD 3.73 billion in 2024
Growth supported by urbanization, rising incomes, and widespread digital appliance adoption in China, India, Japan, and South Korea.
North America
Growth fueled by food content marketing and rising adoption of professional appliances in hotels and hospitality.
Europe
Increasing preference for energy-saving and app-controlled air fryers among health-aware consumers.
South America & MEA
Expansion driven by rising e-commerce and growing middle-class consumption in Brazil, UAE, and Saudi Arabia.
Recent Industry Developments
January 2024
Versuni (Philips-owned) inaugurated a 25,000 sq. meter factory in Ahmedabad, India, with an annual output of 500,000 air fryers—meeting growing local and global demand.
June 2023
Versuni partnered with SAP SE to implement the SAP Sustainability Control Tower to track recycling and eco-initiatives in São Paulo, Brazil, for used air fryer components.
