Expansion of HORECA industry is anticipated to create high demand for deep fryers; however, taking long term view availability of substitute products such as air fryers, is estimated to dissuade the market growth in the upcoming years.
According to a new report published by Allied Market Research, titled, “Deep Fryer Market by End Use and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global deep fryer market size was $487.6 million in 2018, and is expected to reach $612.5 million by 2026, registering a CAGR of 3.0% from 2019 to 2026.
Frying is one of the most popular process of cooking food. Deep frying cooks food faster, more even, and imparts tenderness. As a result. a large economical potential lies in development of improved and innovative deep fryers. New frying technology is evolving that includes improving oil quality, reusing oil, and process automation.
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Rapid growth of the food service industry is expected to provide major impetus to the growth of the global deep fryer market. Hectic lifestyles have resulted in changing of consumers eating habits. As a result, HORECA industry have seen widespread expansion across both developing and developed regions. Some of the appetizers including but not limited to French fries, cheese fritters, onion rings, fried fish sticks, mozzarella sticks, scotch eggs, fried chicken tenders & cutlets, potato chips, fried zucchini disks, banana & pineapple fritters and doughnuts are deep fried. Wide acceptance of such appetizers has created high demand for deep fryers, especially in commercial applications. In addition, increase in experimentation & innovations in varieties of cuisines coupled with growth in the gastronomy industry augments the deep fryer market expansion in the upcoming years
Formation of dangerous and toxic compounds such as acrylamide can be linked to frying food in very hot oil. Acrylamide is often formed in certain food such as meat, owing to very high-heat cooking methods; for instance, deep frying. International Agency for Research on Cancer states intake of acrylamide might cause endometrial, ovarian, breast, esophageal, and pancreatic cancer. Growing consumer consciousness about ill effects of deep frying is expected to impede the global deep fryer market expansion.
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Online distribution is one of the fast-emerging distribution channels in the deep fryer market. Consumers prefer online platforms due to ease of accessibility and convenience. This platform offers a number of discounts on online purchase to attract more customers. Emergence of advanced technology fosters the growth of online business worldwide. Online sales of deep fryers is projected to contribute to the revenue of the manufacturers operating in the market. As a result, players in the residential deep fryer market are increasingly collaborating with e-commerce sites to improve their market presence
The global deep fryer market is segmented into end use, distribution channel and region. Based on end use, the global market is studied across residential and commercial. Depending on distribution channel, the market is segmented into offline and online. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
Key Findings of the Study:
- Asia-Pacific leads in terms of deep fryer market revenue share and is expected to retain its dominance during the forecast period.
- Commercial segment generates highest revenue in the deep fryer market analysis.
- Based on distribution channel, offline segment accounted for about 88% of the global deep fryer market share in 2018. However, the online segment is expected to witness robust growth with a CAGR of 4.4%, during the forecast period.
- Based on region, Asia-Pacific is anticipated to grow with robust CAGR of 4.0% during the forecast period.
Some of the key players operating in the deep fryer market includes AB Electrolux, Ali Group Srl, Breville Group, Fagor Industrial, Groupe SEB, Henny Penny, Newell Brands, Taurus Group, TTK Prestige Ltd., Welbilt, Inc. among others
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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