Air Fryer Market worth USD 1506.62 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Air Fryer Market by Application (Residential and Commercial), by Sales Channel (Hypermarket and Supermarket, Specialty Stores and Online Sales Channel), and by Region - Global Trends, Market Share, and Forecast to 2027". The global air fryer market was valued at USD 995.4 million in 2020 to USD 1506.62 million by 2027, at a CAGR of 6.1% from 2021 to 2027. Rapid growth in the hospitality industry is expected to be the major driver for developing the global air fryer market. Busy lifestyles lead to changes in the eating habits of the majority of the worldwide population. This leads to an increase in demand for ready-to-eat food products, which fuels the number of hotels and restaurants; thereby, boosting the market growth. In addition, an increase in experimentation & innovations in varieties of cuisines coupled with growth in the gastronomy industry augments the market expansion in the upcoming years.

Global Air Fryer Market Segmentation

The overall air fryer market has been segmented into the application, sales channel, and region.

• By Application (Residential and Commercial)
• By Sales Channel (Hypermarket and Supermarket, Specialty Stores and Online Sales Channel),  
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Supermarket/hypermarket, by sales channel, is estimated to hold the largest market share during the forecast period

Sales Channel section covers segments- supermarket/hypermarket, specialty stores, and online sales channels. Supermarket/hypermarket had the highest revenue market share of 49.3% in 2020. The effective retail network helps manufacturers in reaching consumers and prospects effectively. Rapid economic growth, increase in urbanization, and rise in middle-class population drive the expansion of the distribution channel. The shift in purchasing habits and high penetration & acceptance of e-commerce further boost the growth of the air fryer market.

Supermarkets & hypermarkets are huge stores that sell food and small and large appliances, stationery, clothing, gardening products, electronics, and others. They are one-stop/one destination stores. A wide range of products and accessories are available in such stores. Consumers purchasing other goods such as stationery or clothing also buy household appliances. Low inventory cost coupled with an advanced supply chain and large consumer base within the local market are some of the key elements in the existence of these retail formats. Big Bazaar, D-Mart, Spencer’s, Star Bazar, and Wal-Mart Stores are leading players in this segment.

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North America accounts for the largest market share during the forecast period in the air fryer market

On the basis of region, the global air fryer market is studied across North America, Europe, Asia-Pacific, and Middle East & Africa. North America leads in terms of both revenue and innovation. North America will have a market revenue share of 42.3% in 2020.

Foodservice solutions find applications in various industries, including hotels, fast food outlets, and institutional cafeterias in North America. The North American hospitality market dominates the use of foodservice equipment, owing to the high adoption of advanced products and increased demand for processed food in the region. The key factor driving the growth of the North American air fryer market is the early adoption of such equipment in commercial kitchens. The availability of affordable, high-quality, and safer equipment in the market allows small companies to explore and implement kitchen solutions for various applications.

Some of the major companies operating in the global air fryer market are Koninklijke Philips N.V., Conair Corporation, Avalon Bay, BLACK+DECKER Inc., Breville Group Ltd, GoWISE USA, NuWave LLC, Groupe SEB, Meyer Manufacturing Company, and Newell Brands.

Browse complete report: https://www.marketstatsville.com/air-fryer-market

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