Deep Fryer Market size Grows Steadily at a CAGR of 2.8%

Introduction

Deep fryers, classified as kitchen appliances, are employed for the specific function of frying various food products. The temperature range often employed for meal preparation with cooking oil falls between the range of 170 °C to 200 °C. While deep fryers are commonly utilized in industrial contexts, there has been a notable emergence of residential deep fryers produced by prominent manufacturers, increasing prevalence in recent years.

People are interested in automatic deep fryers that can take the basket out of the oil once the food is done cooking and put it back in. These versions have oil filtering systems to optimize the amount of oil that can be reused and ventilation systems to remove cooking odors from the kitchen.

Market Dynamics

Growth of the Hospitality Industry Drives the Global Market

The expected catalyst for the growth of the global deep fryer market is projected to be the rapid expansion of the hospitality industry. A significant portion of the global population modifies their dietary patterns due to their hectic lifestyles. The increasing demand for prepared food products contributes to the expansion of the hotel and restaurant industry, hence stimulating overall market growth. Similarly, there will be a notable expansion in the market due to heightened experimentation and advancements in diverse culinary practices over the forecast period.

Rising Potential for Engaged Stakeholders in Developing Countries and Technological Advancements Creates Tremendous Opportunities

China, Japan, India, and other countries are predicted to swiftly expand in the global deep fryer market. This is due to the expansion of the HORECA market, greater product awareness, and increased home goods purchasing. Similarly, producers should reap the benefits of rising tech-savvy consumers in developing countries adopting smart fryers in the near future.

Furthermore, the deep fryer market has undergone tremendous technological advancement in recent years. Electronic temperature control devices for deep fryers are the most recent market advancements. Temperature-controlled deep fryers conserve energy and prevent fires by continually sensing, monitoring, and regulating the temperature of the deep fryers. In the next years, such technology breakthroughs will continue to give opportunities.

Regional Analysis

Asia-Pacific is the most significant global deep fryer market shareholder and is expected to grow at a CAGR of 3.8% over the forecast period. Asia-Pacific has the fastest-growing economy, thanks to increased urbanization and industrialization. The pace of industrialization has resulted in an increase in disposable income, which has increased the purchasing power of consumers. Deep fryers and other high-end products are becoming increasingly popular, requiring firms to offer cutting-edge products at competitive costs to increase their market share.

Additionally, the Asia-Pacific region has developed as a highly profitable market for air fryers, thanks mostly to the increasing use of automation in commercial kitchens and the rapid economic growth seen in nations like China and India. Similarly, with the rise of creative business models such as e-commerce and the expansion of the hospitality sector, countries in this geographical area have embraced air fryers due to technological improvements. Market expansion is aided by the region's large population base, rising family incomes, and rising middle-class population.

Key Highlights

• The global deep fryer market size was worth USD 548.28 million in 2022 and is projected to reach USD 702.12 million by 2031, registering a CAGR of 2.81% during the forecast period (2023 -2031). 
• Based on end-user, the global deep fryer market is studied across residential and commercial. The commercial segment dominates the global market and is predicted to exhibit a CAGR of 2.61% during the forecast period.
• Based on the distribution channel, the global deep fryer market is segmented into offline and online. The offline segment dominated the market and is predicted to exhibit a CAGR of 2.7% during the forecast period.
• Asia-Pacific is the most significant global deep fryer market shareholder and is expected to grow at a CAGR of 3.8% over the forecast period.

Competitive Players

Competitive Players

The prominent companies in the global deep fryer market are Ali Group Srl, Breville Group, AB Electrolux, Fagor Industrial, Groupe SEB, Henny Penny, Newell Brands, AB Electrolux, TTK Prestige Ltd., Welbilt, Inc., among others.

Recent Developments

Market News

• In June 2023, Groupe SEB expanded its presence in the professional sector by acquiring Pacojet, a Swiss family-owned business renowned for developing and marketing an innovative cooking gadget highly favored by chefs over the past three decades.

Segmentation

Global Deep Fryer Market: Segmentation

By Distribution Channel

• Online
• Offline

By End-User

• Commercial
• Residential

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA