Deep Fryer Market

Market Overview

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). In the forthcoming years, the market is anticipated to witness growth as a result of heightened experimentation and advancements in diverse culinary practices.

Deep fryers, which are kitchen appliances, are utilized for the purpose of frying food items. The temperature range in which cooking oil is commonly used for meal preparation spans 170 °C to 200 °C. Although deep fryers are typically used in industrial settings, deep fryers for household use have been introduced by major players and have become more common during the past few years.

The hotel, restaurant, and cafe (HORECA) industry substantially uses deep fryers and accessories. Modern deep fryers with timers and alarms are in high demand in the commercial sector. 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 models feature ventilation systems to eliminate cooking smells from the kitchen and oil filtering systems to maximize the amount of oil that can be used again.

Market Dynamics

Market Drivers

Growth of the Hospitality Industry

The primary driver of the global deep fryer market is expected to be the hospitality industry's rapid expansion. Most of the world's population alters their eating habits due to their busy lifestyles. The demand for ready-to-eat food goods rises as a result, which promotes the growth of hotels and restaurants and the market as a whole. Likewise, the following years will see the market expand due to increased experimentation and developments in various cuisines.

Improved Performance and Continuous Product Innovation

The ability to consistently enhance product performance and functionality, along with the ongoing collection and incorporation of consumer input, has enabled proactive market participants to maintain their presence in the fiercely competitive business landscape. Moreover, the innovation of deep fryers, including but not limited to thermostats, timers, and automation, attracts a large consumer base. Identifying the driving forces behind consumer perception changes is key to understanding how engaged stakeholders adapt to the evolving market nature.

Market Restraint

Risk of Acrylamide Formation in Deep Frying

Food frying in extremely hot oil has been connected to the formation of hazardous and poisonous substances like acrylamide. Due to extremely high heat during culinary processes like deep frying, acrylamide is frequently generated in specific foods like meat. As per the International Agency for Research on Cancer, acrylamide can cause malignancies such as ovarian, endometrial, breast, pancreatic, and esophageal cancer. Similarly, research indicates that ingesting acrylamide can harm the nervous system and renal function, including cancer development. As a result, people are increasingly switching to air fryers, limiting the growth of the deep fryer business.

Market Opportunities

Rising Potential for Engaged Stakeholders in Developing Countries and Technological Advancements

China, Japan, India, and other nations are predicted to expand rapidly in the worldwide deep fryer market. This is linked to the growth of the HORECA market, increased product awareness, and increased spending on household goods. Moreover, producers should soon reap the benefits of rising tech-savvy consumers in developing nations adopting smart fryers.

Furthermore, the deep fryer market has seen significant technological advancement in the last few years. Electronic temperature control devices for deep fryers are the latest innovations in the market. Temperature-controlled deep fryers save significant energy utilization and prevent fires by continuously sensing, monitoring, and adjusting the temperature of the deep fryers. Such technological advancements will continue to provide opportunities in the upcoming years.

Regional Analysis

Region-wise, the global deep fryer market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

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. With an increase in the number of urban residents and industrialization, Asia-Pacific has the fastest-growing economy. The acceleration of industrialization has resulted in an increase in disposable income, enhancing consumers' purchasing power. Deep fryers and other high-end products are becoming increasingly popular, which has compelled businesses to offer cutting-edge goods at competitive prices to expand their market share. The Asia-Pacific area has emerged as a highly lucrative market for air fryers, primarily driven by the growing adoption of automation in commercial kitchens and the rapid economic growth witnessed in countries such as China and India. Moreover, owing to advancements in technology, the emergence of novel business models such as e-commerce, and the growth of the hospitality sector, countries within this geographical area have embraced the utilization of air fryers. The region's vast population base, rising family incomes, and rising middle-class population support market expansion.

Europe is expected to grow at a CAGR of 2.4% over the forecast period. The European region includes the UK, Germany, France, Italy, Spain, and the rest of Europe. These regions are financially well off and have a good living standard. With high disposable income, there is an increase in the demand for kitchen appliances among consumers. This boosts the requirements for deep fryers in the region. The deep fryer market in Europe is considered to be mature. Therefore, one of the important differentiators is product innovation. In addition, manufacturers are starting to follow the trend of catering to the needs of their health-conscious consumers and are planning to introduce convenient formats for most deep fryers. The consumption of fried foods is higher in some European nations, like the UK, Germany, France, and Italy, which has led to a strong demand for deep fryers.

North America exhibits the highest adoption rate for all category kitchen appliances—factors such as safety, size, and British thermal unit (BTU). In North America, buyers of deep fryers consider the amount of heat needed to increase the temperature of one pound of water by 1 degree Fahrenheit and the appliance's overall portability. Food service solutions find applications in various industries, including hotels, fast food outlets, and institutional cafeterias in North America. In addition, the North American hospitality market dominates the use of deep fryers, owing to the region's high adoption of advanced products and increased demand for processed food. The primary factor driving the North American deep fryer market is the extensive 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 residential applications.

Segmental Analysis

The global deep fryer market is bifurcated into end-user and distribution channels. 

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. In the commercial sector of the global deep fryer market, quick service restaurants and HORECA are included. Commercial companies are projected to switch to using air fryers as consumer preferences shift, notwithstanding the considerable demand from the commercial sector for deep fryers. In the commercial sector of the global deep fryer market, quick service restaurants and HORECA are included. Commercial companies are projected to switch to using air fryers as consumer preferences shift, notwithstanding the considerable demand from the commercial sector for deep fryers.

Furthermore, the market is expanding due to the growing popularity of fast food restaurants, sometimes referred to as quick service restaurants (QSRs). Due to the presence of large populations and an increase in QSRs like McDonald's, Burger King, Wendy's, Subway, and Dunkin' Donuts, which contribute to the market growth from commercial users of the deep fryer market,

The residential segment of the global deep fryer market includes using deep fryers in households. Deep fryers are now becoming popular amongst residential users as they are compact, highly energy efficient, and easy to operate. The demand for deep fryers from the residential segment is expected to gain traction in the upcoming years. The demand for deep fryers for the residential segments remains low due to changing consumer preferences toward oil-free food. As a result, consumers, especially from the residential segment, are moving toward air fryers, which use comparatively low oil for cooking food. Adjustable thermostats, digital timers, and dual filtration replacement filters are new features introduced in the deep fryers for the residential segment.

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. Offline includes brick-and-mortar specialty stores. Offline stores usually span a large area, display many brands, and incorporate extensive product offerings, thus offering high convenience and easy accessibility. The offline channels lead in market share owing to the greater prevalence of such channels amongst consumers. In addition, the presence of a large range of products, along with discounts and offers, results in higher acceptance of offline channels amongst consumers. Retail establishments, known as offline channels, specialize in selling a specific product line and related goods. In every market segment for kitchen equipment, offline channels are omnipresent.

In addition to offering customers greater service quality and knowledgeable advice, most offline channel owners maintain a significant depth in the goods they specialize in selling, typically at premium pricing. Consumers usually prefer to analyze and evaluate the product before purchase, thereby boosting the retail sales of the kitchen appliances market through offline channels. Customers often check the working of appliances in the stores and the type of accessories compatible with them. Therefore, the offline channel constitutes a major share of the deep fryer market.

The online segment is the second largest. Online sales are increasing due to the convenience of finding information on deep fryers, time-saving features, and home delivery options. The market for online sales is also anticipated to rise in the near future due to the emerging markets' explosive development in the number of online and mobile users. The deep fryer market is expanding through online channels due to more e-commerce sales, improved delivery services, more practical payment options, and the capacity of major companies to enter new international markets.

E-commerce technology reduces consumer search costs, making comparing different products and prices virtually easier. E-commerce also enables new distribution technologies that reduce supply chain and distribution costs. Unlike physical stores, online stores allow companies to reach consumers in other countries and remote locations.

Recent Developments

• 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.