Air Fryer Market Outlook
People are opting for convenient devices like air fryers as modular kitchens and equipment become more popular. As a result, market trends are predicted to expand, and the market is expected to rise at a significant CAGR rate throughout the forecast period. An air fryer is a type of electric appliance that is commonly found in modular kitchens. The air fryer is simple to use since it cooks food by circulating hot air through the basket with the help of a fan that pulls power from the convection mechanism. All those who enjoy fried food yet are unable to eat it owing to health or weight concerns.
. Apart from baking fried foods, air fryers are useful for baking, roasting, and grilling a variety of foods. People’s lifestyles are changing because of the epidemic, and demand for air fryers is skyrocketing over the predicted period. Air fryers are gaining popularity in the commercial sector. Population increase is beneficial to the company because it creates demand, which forces a large-scale supply. The US Department of Commerce’s Census Bureau forecasts a larger increase in demand for air fryers due to their convenience, easiness, and health benefits.
COVID 19 Analysis
The novel coronavirus is a public emergency that is targeting healthcare services and departments of various economies across the globe. Being communicable, this disease has a very high transmission rate and the continuous waves of the pandemic with deadlier versions are harming the global markets. The air fryer market has also been negatively impacted by the pandemic. The decreased demand and unawareness are the major factors due to which, the market is witnessing slow growth. The government has imposed restrictions and lockdown due to which, people are stepping out for the bare minimum. Also, this has affected the purchasing power of people which is pushing them to cut down the modern expenses.
Market Segmentation
Based on the end-users, the global Air Fryer market share has been segmented into residential and commercial.
Based on the distribution channels, the global air fryer market has been segmented into store-based (specialty stores, hypermarkets, and supermarkets) and non-store-based.
Based on the region, the global air fryer market has been segmented into Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
Regional Classification
The trends show that the North American region is anticipated to dominate worldwide market operations, based on the demand of clients scattered throughout numerous global regions. The increased usage of the product for both commercial and domestic purposes is the primary factor driving the market. People are paying more attention to their health, and the increased knowledge of the convenience provided by air fryers will assist market trends to soar during the projection period. The APAC region is also predicted to see significant growth and will have the highest CAGR by the end of the forecast period.
In India’s Air Fryer Market, the metropolitan area accounted for a large portion of overall revenue. The buying power of urban Indians has increased as they select products and services that serve as a style statement or status symbol. The growing desire to connect with items has fueled the demand for customized appliances that complement the overall concept of the home while also meeting the household’s functional needs which have increased the industrial air fryer market.
Industry News
The major key players in the Air Fryer Market are Meyer Corporation (the US), NuWave, LLC (the US), Bajaj Electricals Ltd (India), Koninklijke Philips N.V. (Netherlands), Conair Corporation (the US), GoWISE USA (the US), Groupe SEB (France), Avalon Bay (the US), Breville (Australia), and Rosewill, Inc. (the US).
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