India Kitchen Appliances Market to Grow at Over 25% till 2019
Expanding middle class, growing working population and improving consumer lifestyle continue to boost kitchen appliances market in India
According to a recently published report by TechSci Research “India Kitchen Appliances Market Forecast and Opportunities, 2019”, the kitchen appliances market in India is projected to grow at a CAGR of more than 25% during 2014-19. The demand for kitchen appliances in the country is expected to continue growing on account of expanding base of middle class and affluent consumers, increasing working population and improving consumer lifestyle. India has a large base of young consumers who form majority of the workforce and hardly find time for traditional cooking due to their busy schedules, thereby creating huge demand for western kitchen appliances that facilitate easy and quick cooking.
Rising per capita disposable income of consumers, especially upper and lower middle income groups, continues to drive India’s kitchen appliances market. However, majority of Indian consumers are price conscious, which poses a challenge for the manufacturers and suppliers as even a small price variation hugely affects the consumer preference for a specific brand or product. Consequently, the kitchen appliance companies are constantly focused on offering high-quality kitchen appliances at lowest possible prices.
“Retail chains such as Big Bazar, Easyday, Croma, Relaince Digital, etc. are significantly contributing towards increasing the product awareness among consumers, thereby boosting the demand for kitchen appliances in India. However, such chains are not currently present in semi-urban and rural pockets of the country. To overcome this issue, various retail majors are focusing on expanding their reach in rural areas over the coming years, which is expected to drive the kitchen appliances market until 2019.” said Ms. Varsha Singh, Research Consultant with TechSci Research, a research based global management consulting firm. Major players currently operating in the Indian kitchen appliances market include Glen, TTK Prestige, Bajaj Electricals, LG, Samsung, Inalsa, IFB, Panasonic, Phillips, etc.
“India Kitchen Appliances Market Forecast and Opportunities, 2019” has evaluated the future growth potential of India’s kitchen appliances market and provides statistics and information on market structure, consumer behavior trends, market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in kitchen appliances market in India.