According to a new report published by UnivDatos Markets Insights, the Air Fryer Market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Product (Manual, Digital); End-User (Commercial, Residential); Distribution Channel (Online, Offline); Region/Country.
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The air fryer market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the air fryer market. The air fryer market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the air fryer market at the global and regional levels.
Market Overview
The demand for the air fryer market is rising due to increasing personal disposable income. For instance, according to OECD, in 2020, the total household spending in the United States is 1,40,47,565 Million US Dollars which is the highest spending in comparison to India (61,16,165 Million US Dollars), Japan (25,43,321 Million US Dollars), and China (91,64,397 Million US Dollars). Technological advancements being made by the major key players are boosting the market. Moreover, increasing demand from restaurants, hotels, and hospitals is boosting the demand for the air fryer market. Furthermore, the rising awareness regarding the negative effects of consumption of oily food and the benefits of air frying technology is expected to drive the market for air fryer market in the coming years.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Major regional markets have experienced negative effects from both a labor shortage and an increase in production costs as a result of the COVID-19 pandemic. Disruptions in raw material supply chains have also slowed growth in the air fryer market. However, as the pandemic fades and orders for stay-at-home meals decrease, demand for technology-driven kitchen appliances will skyrocket through 2021. Refrigerators, microwaves, ovens, and air fryers are becoming increasingly popular among consumers.
The Global Air Fryer Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on the end-user, the market is fragmented into commercial and residential. The residential segment grabbed a considerable market share, and it is expected to grow at a significant growth during the forecast period. There is an increase in the demand for air fryers among residential end users due to lifestyle changes and increased disposable incomes.
Based on the distribution channel, the market is bifurcated into online and offline. The online segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe. The growing popularity of e-commerce vendors is an important factor aiding product sales.
Air Fryer Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market dynamics of the air fryer market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Geographically, North America constitute a major market for the air fryer industry owing to the rising adoption of air fryers for domestic and commercial purposes owing to the rising health consciousness or awareness regarding benefits of maintaining good health.
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The major players targeting the market include
· Koninklijke Philips N.V
· Stanley Black & Decker, Inc.
· Breville Group Limited
· GoWISE USA
· SharkNinja Operating LLC
· Bajaj Electricals Ltd
· DOMU Brands Ltd
· TAURUS GROUP
· Newell Brands, Inc
· De’ Longhi Appliances S.r.l.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the air fryer market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the air fryer market?
• Which factors are influencing the air fryer market over the forecast period?
• What are the global challenges, threats, and risks in the air fryer market?
• Which factors are propelling and restraining the air fryer market?
• What are the demanding global regions of the air fryer market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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