Philips air fryer demand heats up: Versuni targets overall 20% festive growth despite 5-7% price hikes

Versuni India expects sales to grow by more than 20% during the festive season, betting on rising demand for air fryers, air purifiers and other newer appliance categories even as higher commodity prices force it to raise product prices by 5-7% this year.

The company, which owns the Philips and Preethi home and kitchen appliance brands, is banking on a shift towards premium products and growing consumer awareness to drive demand. Gulbahar Taurani, managing director and CEO of Versuni India, said newer categories were likely to outperform mature segments during the festive period, while demand remained strong across the market.

“This is a period where consumers really look at home appliances,” Taurani said. While some established categories could see a moderation in demand, he said the company had not observed such a slowdown in consumption yet.

The growth outlook comes despite pricing pressures across the consumer durables industry due to rising crude-linked plastics, global spikes in metals, and a surge in shipping and freight costs. Many major appliance and consumer durable brands in India have increased product prices starting October 1, 2026 ahead of the festive season. In line, Versuni had increased prices by around 5-7% during the year as commodity costs rose unpredictably. The company, however, has tried to absorb part of the increase rather than pass the entire burden on to consumers.

Air fryers emerge as a key growth engine

Air fryers, which was largely a non-existant category two years ago, is today being valued at approximately $217 million in 2026 and is projected to reach $364.4 million by 2035.

A central part of Versuni’s strategy is to expand the air fryer market, where household penetration in India remains in the single digits despite growing consumer interest. Philips introduced air fryers in India in 2012, ahead of its time, and has since invested in educating consumers about the appliance and demonstrating its uses.

Taurani earnestly believes the category has significant headroom to grow, with household penetration needing to reach 25-30% for the market to realise its potential.

Competition has also intensified from both legacy brands and new-age market entrants, with more than 50 players now selling air fryers. Versuni plans to defend its position through cooking performance, product upgrades and a wider range of recipes and functionalities, rather than relying solely on brand recall.

That demand is translating into manufacturing expansion. Versuni's air fryer factory, launched in India in January 2024, initially had capacity of around two lakh to three lakh units. This rose to 10 lakh units within a year and more than 20 lakh units in two years. The company has also invested ₹180 crore in expanding Indian manufacturing to increase local production and deepen localisation.

The expansion extends beyond air fryers. Versuni has begun manufacturing garment steamers in India and recently started producing one model of air purifier locally. It is also developing manufacturing capabilities for components, including motors, as it works towards greater local sourcing with the ambition of achieving “100% local for local” as soon as possible.

Beyond metros, a broader appliance opportunity

Versuni sees changing consumer preferences supporting growth across its portfolio. Taurani said kitchens were becoming more integrated with living spaces, increasing demand for compact and aesthetically designed appliances. Growing concerns around air pollution and rising coffee consumption are also creating opportunities for air purifiers and coffee machines.

Around half of the company's demand now comes from tier-II, tier-III and tier-IV cities, with the remainder coming from metros, Taurani said. More than 70% of its sales still come from offline channels, although online sales are growing faster. Taurani expects India's appliance market to remain omnichannel over the next five years, with neighbourhood stores, organised retailers such as Croma and Reliance Retail, e-commerce platforms such as Amazon and Flipkart, and quick-commerce platforms all continuing to play a role in consumer purchases.

Versuni today operates as an independent company following its separation from Royal Philips in 2021, retaining the Philips brand alongside Preethi in India. Taurani said the business handles product innovation, research and development, and operations rather than functioning merely as a licensee. While Philips has a pan-India presence across home and kitchen appliances, Preethi remains particularly strong in southern India, where the company is expanding its kitchen appliance portfolio.