Is The High Speed Growth Period Over? Air Fryer Growth "Stalls” and Manufacturers Looks to Next Stage

A small number of high growth categories in household appliances consumption released a slowdown signal. Some manufacturers publicly said that the air fryer category would enter the competition period and elimination period. The latest data also shows that since July, the growth rate of air fryers has dropped from over 100% to about 50%.

Although many manufacturers told reporters that they are still optimistic about the long-term development trend of the air frying pan category. However, an analyst told the reporter that the future growth rate of the air frying pan category is expected to remain between 10% and 20%, and the annual scale may reach about 9.5 billion yuan, which is slightly lower than the market expectation of 10 billion yuan.

However, when the category enters the next stage, manufacturers may have more competition in terms of product strength and price, and the competition pattern will move from stickiness to clarity.

Is the period of rapid growth over?

Since the beginning of the year 2022, the "hot" air fryer has lifted the "useless" hat and entered a high-speed growth period. In the report by the Associated Press of Finance in March that "Air fryers are not" useless "? Q1 manufacturers with strong demand are overweight, but it may be difficult to achieve short-term performance support", Midea Group (000333. SZ) and Supor (002032. SZ) both said to reporters that they would increase investment in production capacity, research and development, marketing layout and other aspects to actively layout the air fryer track.

However, the situation changed in the second half of the year. The data from Ovi Cloud showed that the growth rate of air frying pan dropped significantly.

The main sales channels of air fryers are online. From January to June 2022, the monthly year-on-year growth rate of online sales is generally higher than 150%, and the year-on-year growth rate in May is even as high as 239.9%.

However, the year-on-year growth rate dropped to 79.3% in July and 48.73%, 54.88% and 41.14% respectively from August to October.