Indian Kitchen Appliances Market Outlook 2031:
The Indian kitchen appliances market size was valued at USD 5.10 Billion in 2022 and is projected to reach USD 11.54 Billion by 2031, expanding at a CAGR of 9.5% during the forecast period 2023 - 2031. The growth of the market is attributed to the growing urbanization, increasing disposable income, and rising demand for easy-to-operated kitchen appliances.
Kitchen appliances can be defined as machines which are designed for smooth functioning of kitchen activities. Kitchen appliances are used to serve various purposes in day-to-day kitchen activities such as cooking, refrigeration, boiling, grinding, mixing, washing, and processing, these machines are operated on electricity, gas, and renewables. Kitchen appliances are intended to make your life Hassle-free, easy, and to save time. The major types of kitchen appliances include, gas stove, refrigerator, coffee makers, food processors, ovens, and toasters.
Kitchen Appliances Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer consumption, rise in per capita income, and growing population are major factors driving the market expansion during the forecast period.
- Rapid growth of urbanization, increasing demand for more convenient kitchen tools, and growing manufacturing sector in the country are anticipated to propel the market growth in the coming years.
- High cost associated with large kitchen appliances, high electricity consumption, and poor-quality products to cut down prices present as major challenges that can restrict the market expansion during the forecast period.
- Lack of skilled labors and inefficient manufacturing processes are expected to hamper the market growth in the coming years.
- R&D investment, technological advancement, and changing lifestyle among the consumers wanting more sophisticated kitchen appliances are factors estimated to create lucrative opportunities for the market players.
Scope of the Kitchen Appliances Market Report
The report on the Indian kitchen appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Indian Kitchen Appliances Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product Types (Food Processors, Mixers and Grinders, Microwave Ovens, Grills and Toasters, Water Purifiers, Refrigerators, Dishwashers, and Other Kitchen Appliances), Applications (Residential and Commercial), Distribution Channels (Multi-brand Stores, Exclusive Stores, Online E-commerce, and Other Distribution Channels), Fuel Type (Cooking Gas, Electricity, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
LG Electronics India Pvt Ltd, Samsung India Electronics Pvt Ltd, Bajaj Electricals Ltd., Whirlpool of India Ltd, TTK Prestige Limited, Panasonic Home Appliances India Co, Philips India Ltd, Sunflame Enterprises, Godrej & Boyce Ltd, IFB Industries Ltd
Indian Kitchen Appliances Market Segment Insights
Refrigerator segment is projected to account for major market share
Based on product types, the Indian kitchen appliances market is segmented into food processors, mixers and grinders, microwave ovens, grills and toasters, water purifiers, refrigerators, dishwashers, and other kitchen appliances.
The refrigerator segment is expected to account for major market share owing to new product innovations and integration of safe food technology in the refrigerators. However, the microwave ovens segment is anticipated to expand at a robust CAGR during the forecast period due to increasing demand from the working-class consumers and growing hobbies among the younger generation for baking and cooking.
Residential segment is anticipated to dominate the market share
In terms of applications, the Indian kitchen appliances market is bifurcated into residential and commercial. The residential segment is projected to dominate the market during the forecast period.
The segment growth is attributed to kitchen appliances being specifically designed meet the standards of home use. Increasing population has led to smaller home spaces which has created need for more ergonomic and compact designs of these appliances, hence, pushing the market demand for small kitchen appliances in the coming years.
Online E-commerce segment is expected to expand at a significant CAGR
On the basis of distribution channel, the Indian kitchen appliances market is segregated into multi-brand stores, exclusive stores, online, and other distribution channels. The online e-commerce segment is expected to grow at a healthy CAGR.
The segment growth is attributed to increasing adoption of online e-commerce websites for shopping various products and due to advent of Covid-19 which restricted people from going out of their homes during lockdowns for buying kitchen appliances which are deemed as necessity in daily-to-day activities.
Electricity segment is estimated to represent large market share
Based on fuel types, the Indian kitchen appliances market is divided into cooking gas, electricity, and others. The electricity segment is anticipated to constitute for key market share during the forecast period.
The segment growth is attributed to growing popularity of electric appliances in the recent years and due to new product innovations, which makes the products attractive to the consumers.
- Food Processors
- Mixers and Grinders
- Microwave Ovens
- Grills and Toasters
- Water Purifiers
- Other Kitchen Appliances
- Multi-brand Stores
- Exclusive Stores
- Online E-commerce
- Other Distribution Channels
- Cooking Gas
- LG Electronics India Pvt Ltd
- Samsung India Electronics Pvt Ltd
- Bajaj Electricals Ltd
- Whirlpool of India Ltd
- TTK Prestige Limited
- Panasonic Home Appliances India Co
- Philips India Ltd
- Sunflame Enterprises
- Godrej & Boyce Ltd
- IFB Industries Ltd
Key players competing in the Indian kitchen appliances market include LG Electronics India Pvt Ltd, Samsung India Electronics Pvt Ltd, Bajaj Electricals Ltd., Whirlpool of India Ltd, TTK Prestige Limited, Panasonic Home Appliances India Co, Philips India Ltd, Sunflame Enterprises, Godrej & Boyce Ltd, and IFB Industries Ltd.
Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.