Singapore Air Fryer Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Technological advancements in the industry are fueling the air fryer market's expansion. A growing consumer base is resulting from the availability of a wide range of technologically advanced air fryer goods, which is expected to enhance the market over the forecast period.

Singapore Air Fryer Market was valued at USD 13013.64 thousands in 2021 and is expected to reach USD 20898.82 thousands by 2029, registering a CAGR of 6.10% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.

Report Scope and Market Segmentation

Market Definition

Air fryer is specially designed with the properties that provide the oil-free as well as healthy food to the individuals in the guilt free way. It is suitable for the small places where an individual can also provide the faster cooking facilities to the consumers which help in maintaining the weight of the individual.

Air fryer Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Demand for Air Fryers

High demand from restaurants and hotels is believed to have aided market expansion. Furthermore, market expansion is likely to be aided by the growing demand for energy-efficient products. Furthermore, the increasing demand for air fryers in hospitals is gaining popularity among customers as they receive good and healthy meals in hospitals, resulting in an increase in demand for air fryers.

• Increased Health Consciousness

The demand for the product is expected to rise as people become more conscious of the need of a healthy diet and energy-efficient items. Furthermore, rising concerns about fat intake and cholesterol levels in the human body are leading to increased consumption of healthier foods, which is driving demand for air fryers. More demand for previously fried and frozen foods is being driven by a growth in the number of health-conscious consumers, particularly in urban areas, as well as higher consumer knowledge about fitness and better food quality, resulting in increased demand for air fryers. Furthermore, air fryers use less oil and do not sacrifice texture or flavor, resulting in a good impact on human health, which results in increased adoption of air fryers.

Furthermore, the rising popularity of e-commerce retailers will further propel the growth rate of air fryer market. Additionally, the growth in population along with the rapid urbanization will also drive market value growth over forecasted timeframe. Moreover, the increased demand for automatic cooking appliances in developed countries also boosts the overall 'market's growth.

Opportunities

• Awareness and Innovation

Furthermore, the rise in awareness of healthfulness and concern over fat intake further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the ongoing innovation in product performance and functionality and continuous consumer input will further expand the future growth of the air fryer market.

Restraints/Challenges

• Drawbacks of Manual Air Fryer

The market's growth is hampered by air fryers' longer cooking times, which result in higher electricity and energy usage. Moreover, an air fryer takes 20-25 minutes to cook, whereas a standard fryer takes 10-12 minutes. Therefore, the slower cooking time of manual air fryers will create hindrances for the growth of the air fryer market.

• High Costs of Air Fryer

Continuous product performance innovation is resulting in higher final product costs, and the availability of low-cost substitute products is projected to act as a limitation on market growth.

• Availability of Counterfeit Products

Counterfeit goods account for 7-9 percent of worldwide trade, according to the World Customs Organization (WCO). The failure of procurement networks to address this issue has become a burden for market participants. Furthermore, since counterfeiting methods have become more sophisticated, consumers are finding it increasingly difficult to distinguish between real and counterfeit products. With unlimited online access, this translates to lower product sales and revenue. Therefore, this factor is anticipated to challenge the air fryer market growth rate.

This air fryer market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the air fryer market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Air Fryer Market

The recent outbreak of coronavirus had a huge impact on the air fryer market. The air fryers at venues such as hotels and restaurants account for a substantial portion of air fryer revenue, their closures have an impact on revenue production in these regions. In comparison to the previous year, lockdowns have resulted in huge income losses. The market's poor growth is attributable to a combination of reasons including lower demand and consumer awareness. People are stepping out for the bare minimum because the government has enforced restrictions and lockdown. This has also impacted people's purchasing power, forcing them to cut back on current expenses.

On the brighter side, the market's demand is being pushed by various improvements in the industry, and major market players are creating and manufacturing them on a huge scale. Also, as people's lifestyles and preferences evolve, the market will be able to cover the market's losses and stagnating demand throughout the epidemic. In addition, the government is developing programs to aid the market's expansion. The increase in investment in the research and development industry also bodes well for the market's global expansion throughout the forecast period.

Singapore Air Fryer Market Scope

The air fryer market is segmented on the basis of type, function, liters, material, price range, wattage distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Drawer Type Air Fryer
• Lid Type Air Fryer
• Others

 Function

• Manual
• Digital

Liters

• Small Size 2.6L to 4.9L
• Mini Size 2.5L and Below,
• Large XL Size 5.0L to 8.5L
• Extra Large XXL 8.6L to 12.5L

Material

• Plastic
• Metal
• Others

Price Range

• Below SGD $99
• SGD 100 to SGD 149
• SGD 150 to SGD 199
• SGD 200 to SGD 249
• SGD 250 to SGD 299
• SGD 300 to SGD 349
• SGD 350
• Above

Wattage

• Below 1200 Watt
• 1200-1500 Watt
• 1500-1800 Watt

 Distribution Channel

• E-Commerce
• Supermarkets/Hypermarkets
• Specialty Stores
• Others

End-User

• Residential
• Hotels
• Cafes
• Quick Service Restaurants
• Others

Competitive Landscape and Air Fryer Market Share Analysis

The air fryer market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Singapore presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to air fryer market.

Some of the major players operating in the air fryer market are

• Koninklijke Philips N.V. (Netherlands)
• Rosewill, Inc. (U.S.)
• Meyer Corporation (U.S.)
• Bajaj Electricals Ltd (India)
• NuWave, LLC (U.S.)
• Avalon Bay (U.S.)
• GoWISE USA (U.S.)
• Breville (Australia)
• Groupe SEB (France)
• Conair Corporation (U.S.)
• BLACK+DECKER (U.S.)
• Conair LLC (U.S.)
• Newell Brands (U.S.)
• TATUNGUSA (Taiwan)
• 'De' Longhi Appliances S.r.l. (Italy)
• Ming's Mark Inc (U.S.)
• Gorenje (Slovenia)
• Domu Brands (U.K.)

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