Indian Kitchen appliance growth Story

The Indian kitchen appliance market is huge. In most of the segments, we have fragmented competition. This means most of the brands are majorly targetting only one segment. For example, LG continues to target and lead the Microwave segment whereas Faber Heatkraft leads in freestanding cooker hoods.

One of the major factors that are driving the Indian Kitchen appliance market is that brands are constantly working hard to ensure low-cost appliances for Tier II and Tier III cities. Which was appreciated by experts and is said to sail this market at least until 2025.

 

Below are a few factors that are affecting the Kitchen appliances market:

 

Growing Urbanization:

The Indian Kitchen appliance market’s expansion is also sponsored by growing urbanization. As per Statista Urbanization was growing at 34.5% in 2019

 


 

source: statista.com

 

With the expansion of urbanization, the middle-class population has grown which has added to the growth of the kitchen appliance market.

Urbanization has also lifted up the lifestyle of people that has forced brands to keep upgrading the products. Nowadays we are seeing growing demands for appliances like dishwashers in Indian metro cities. A few years back dishwashers were very rare and weren’t expected to enter the Indian market this soon.

 

Ecommerce:

With the rise of e-commerce in India and the lucrative offers that they provide, more and more people are shopping from their homes only. This boost has added to the expansion of the Kitchen appliance market in India. This growth is expected to rally for a while.

 

Source: MordorIntelligence

 

Overall The Indian Kitchen Appliance market is expected to grow with a CAGR of 8.6 until 2025. And, That means we can expect more innovation and more cool products coming up.

The rise of the Kitchen appliance market has demanded more awareness among people which is why people are now looking for Kitchen appliance buying guides that guides them to select a better product.

Effect of COVID19 on Kitchen appliance Market:

It’s no secret that COVID has hit India dearly. COVID alone was the reason for a massive drop to -23% GDP of India and the Kitchen Appliance market wasn’t untouched. There was a drop in production as well as in consumption which led to dropping in growth in Kitchen appliances. As the situation gets better we will see things getting back on track and the expected growth rate will be reached.

 

Disclaimer:

The data has been taken from various open statistic sources and has been mentioned in the post. The data has been used only for informational purposes.


Kumar Gaurav

Kumar Gaurav

Gaurav is a fulltime Software Enginner. He has multiple hobbies like painting, chess, etc. He has an extreme interest in the latest technology shifts be it in gadgets or in appliances. He keeps himself updated with the technology that impacts our lifestyle which is why he blogs a lot about latest arrivals in Home appliances, Kitchen appliances and gadgets.

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