India kitchen appliances market has been growing well for the past few years and is expected to grow in double digits in the coming future based on the increasing consumer consumption trends and the rise in the per capita income and growing population across various regions of the states. Increased demand for branded products from rural areas (nearly 70% of Indian population still resides in rural areas), owing to the rural population’s better awareness of higher quality and durability, serves as one of the key drivers for the growth of the Indian kitchen appliances market. The large kitchen appliances segment holds a majority share of about 48% in the overall market. This is mainly driven by the increasing disposable incomes and the changing lifestyle, which instigate an inclination toward sophistication of kitchens, seeking to carry out the cooking experience with ease and a sense of comfort, especially for the growing working women population. Growing online retailing is giving newer impetus for the market to venture into this strongly emerging channel of distribution to capture maximum sales, and, in turn, meet the consumer demand effectively.
Key Market Trends
Growing Urbanization is Driving the Market
The market’s expansion was supported by ongoing urbanization, which contributed to an expanding middle class and a growing demand for convenience amid hectic urban lifestyles. Demand for kitchen appliances is seen more in the urban market especially in high-tier cities. Growing urbanization and product up-gradation are also some of the key factors for the growth of the kitchen appliances market. Rising urbanization levels drive demand for luxury and premium apartments, building a positive outlook for premium kitchen appliances. An increase in surplus money and the growing number of working populations in the urban societies is anticipated to drive the demand for kitchen appliances. High-income groups are a potential target segment for lifestyle products.
Increasing Online Sales is Driving the Market for Kitchen Appliances
The growth in the online sales of these appliances is expected to increase further in the future, due to the rising competition among the store-based retail outlets and the increased amount of time spent by the general population on the internet. Also, the easy financing options and the numerous discounts offer given online by the eCommerce giants, such as Flipkart and Amazon, are further propelling consumers to prefer this channel over the traditional in-store purchases. Online shopping has become an important retail channel for all consumer purchases. Shopping online for kitchen appliances enables consumers to explore a wide range of features and pricing options across a variety of retailers in less time and with just a few clicks.
Competitive Landscape
The current Indian competitive landscape for the kitchen appliances market is a fragmented, wherein different companies lead in different categories. LG continues to remain the market leader in the Microwave segment, while Faber Heatkraft leads in freestanding cooker hoods. Besides, companies have ensured the availability of low-cost kitchen appliances in tier II and tier III cities, which will continue to help the kitchen appliance industry through 2025.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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