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Air Fryer is an electric cooking appliance that acts as a healthy alternative for deep frying as air fryers consume less or no oil in the cooking process. However, air fryers are much similar to microwave ovens due to their cooking pattern. Additionally, air fryers are kitchen appropriate because of their compact size and can be carried anywhere.
The air fryer market is driven by a large population's adoption of healthy alternatives to boost energy and maintain health as people suffer from various diseases such as obesity, high cholesterol, and others.
With the increase in edible oil consumption in the HoReCa industry, the demand for healthy appliances in the industry has increased at a high rate to overcome the oil demand, which will also act as a driving factor for the air fryer market. The hospitality industry is also shifting towards healthy and gourmet cooking. Luxury hotels prefer smart appliances which can reduce their raw material (like oil) consumption.
The impact of Covid-19 was negative as the marketplace was shut down due to the lockdown in countries globally, which affected the Hospitality industry at par as tourism and travel were on pause. The pandemic resulted in revenue loss for many prominent air fryer manufacturers, such as Koninklijke Philips N.V., Havells India Limited, T.T.K. Prestige Ltd, and others.
The global lockdown due to the COVID-19 pandemic resulted in the pause of logistics which affected the supply chain at a high rate. The decline in production was projected because of government rules, regulations, and restrictions. A high decline rate for import-export and customs globally resulted from the lockdown, affecting the distribution channel for the air fryers' market consumption.
The report will cover the following key insights:
The automatic segment of the product type is expected to grow in the future. The tech-friendly generation is more attracted to the automatic segment because of its up-to-date features. Auto cut-off, temperature setting, and other features attract a large population.
The residential segment of the application will dominate the air fryer market. Rising health-conscious living across the globe would surge the demand for air fryers. Majorly the increase in the adoption of modular kitchens globally will also drive the air fryer market.
The sales channel is bifurcated into two categories which are online and offline. The offline segment of the global air fryer market is expected to dominate the air fryer market. The population's preference for the demonstration of the product before buying is accelerating the offline sales channel as people want to understand the functioning of the product in general for day-to-day use of the machinery.
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The Asia Pacific region is projected to rise significantly in the air fryer market. The Asia Pacific market is one of the major technology consumers and is expected to register significant growth in the future. The rise in disposable income, the increasing number of people relocating to urban areas, and the growing influence of healthy diets among young consumers are some of the prime factors contributing to the growing demand for air fryers. Countries such as China, India, and Japan are some major consumers of kitchen appliance products.
The APAC market is ready to adopt new technological trends and innovations supported by governmental policies and schemes. Asian countries like South Korea, Japan, China, and others are the highest tech-adopting countries in the world.
The report will include the profiles of key players, such as T.T.K. Prestige Ltd., Ltd., SharkNinja Operating L.L.C., Breville, Inc., Koninklijke Philips N.V., Inalsa home appliances, Havells India Limited, Cuisinart, DASH (StoreBound L.L.C.), Breville, Inc, Kent RO Systems, Borosil Glass Works Ltd
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