Market Overview:
According to Fortune Business, global   air fryer market   was valued at   USD 8.07 billion in 2024   and is projected to grow to   USD 17.71 billion by 2032 , reflecting a   CAGR of 9.47%   during the forecast period. The market is being driven by the increasing demand for energy-efficient kitchen appliances, rising health consciousness among consumers, and the growing popularity of smart and multifunctional cooking devices. In 2024,   Asia Pacific led the global air fryer market with a 46.22% share , supported by rising household consumption and technological adoption in countries like China, India, and Japan.

Competitive Landscape

Key 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

1. Surge in Energy-Efficient and Smart Appliance Adoption
   The demand for energy-efficient appliances continues to rise, particularly in residential and commercial housing facilities. This shift is further supported by DIY home improvement trends. According to the   Home Improvement Research Institute , DIY kitchen and dining room upgrades in the U.S. increased from   39% in Q2 2022 to 46% in Q2 2023 .
2. Technological Advancements and Smart Integrations
   Manufacturers are launching smart air fryers equipped with   app control, voice assistant compatibility , and   multi-cooking functionalities . For instance,   Cosori   introduced the   Smart TurboBlaze 6-Quart Air Fryer   in September 2024 with   10 preset cooking functions   and app integration, enhancing consumer convenience.
3. Health-Focused Consumer Trends
   The shift toward oil-free cooking has boosted the popularity of air fryers. Social media influencers and chefs actively promote air fryer recipes, fostering higher awareness and adoption among health-conscious consumers.

Market Restraints

• Higher Price Points : Smart and digital air fryers are more expensive than conventional cooking appliances, limiting penetration in price-sensitive markets.
• Availability of Alternatives : Traditional ovens, cookware, and microwaves present viable alternatives to air fryers.
• Skepticism Toward Oil-Free Claims : Some consumers remain unsure of the actual health benefits and cooking capabilities of air fryers, potentially hindering sales.

Market Opportunities

• Eco-Friendly Product Development : Rising demand for   green appliances   that reduce carbon emissions opens doors for manufacturers to innovate and expand in eco-conscious segments.
• Customization and Larger Capacities : Custom colors, dual compartments, and larger cooking capacities provide avenues for differentiation and brand expansion.

Market Challenges

• Short Product Lifecycles : Rapid innovation and evolving consumer preferences can render existing models obsolete quickly.
• Misconceptions about Product Use : Limited understanding of air fryer functionalities can lead to low engagement or satisfaction among first-time users.

Emerging Trends

• Vegan and Plant-Based Food Cooking : With more consumers shifting to plant-based diets, air fryers are increasingly being used to prepare healthier, meat-free meals.
• Influencer Marketing : Collaborations between chefs and influencers on platforms like Instagram, TikTok, and YouTube are driving awareness and adoption.

Segment Analysis

By Type

• Digital Air Fryers   dominated in 2024 due to their multifunctionality and smart features.
• Manual Air Fryers   are growing in demand for being cost-effective and user-friendly, especially in developing markets.

By Model Type

• Basket Style Air Fryers   lead the market due to affordability and traditional use.
• Multi-cookers   and   Countertop Models   are rapidly gaining traction due to compact size and advanced features.

By Capacity

• 3–5 Liter Air Fryers   were the most popular in 2024, ideal for small families.
• Up to 3 Liters   models are favored for single-person households and recreational vehicle use.
• Above 6 Liters   models are growing in the commercial and foodservice segment.

By Distribution Channel

• Supermarkets & Hypermarkets   dominated in 2024 due to wide product availability.
• Online Channels   are projected to grow the fastest, driven by the convenience of e-commerce and digital marketing.
• Specialty Stores   continue to thrive by offering product expertise and after-sales support.

By End User

• Households   represented the largest share due to increasing demand for oil-free, energy-efficient cooking appliances.
• Foodservice Facilities   are adopting larger models to meet growing health-conscious customer demands.

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Regional Insights

Asia Pacific – Market Leader

• Valued at   USD 3.73 billion in 2024 .
• Key growth markets:   China, India, Japan, South Korea .
• Urbanization, rising disposable incomes, and digital cooking appliance penetration are key drivers.

North America

• Growth driven by recipe promotions by food brands and increasing hospitality infrastructure.
• Hotel chains like   Hyatt   are adopting professional-grade kitchen appliances.

Europe

• Increased awareness of healthy eating and energy conservation drives adoption.
• Growing demand for smart, app-controlled air fryers.

South America & Middle East & Africa

• Rising e-commerce activity and urban middle-class expansion in   Brazil, UAE , and   Saudi Arabia   promote market growth.

KEY INDUSTRY DEVELOPMENTS

January 2024:   Versuni, a Koninklijke Philips NV-owned small appliances manufacturing company, opened its second 25,000-square-meter factory in Ahmedabad, India. The factory has an annual production capacity of 500,000 air fryers, 200,000 garment steamers, and hand mixers in India.

June 2023:   Versuni, a Koninklijke Philips N.V.-owned small appliances manufacturing company, established a partnership with SAP SE, a European software company, to utilize the SAP Sustainability Control Tower to monitor the recycling process of used air fryers in Sao Paulo, Brazil.