The Indian kitchen appliances market is expected to grow at a CAGR of 12.3% during the forecast period. The market includes appliances for residential and commercial kitchens for cooking, food preparation, and storage purposes. For instance, microwave ovens, refrigerators, induction stoves, water purifiers, dishwashers, grills and toasters, mixers and grinders, and others The market is also divided into distribution channels, which include both offline and online ;istribution channels. The offline channel is the conventional method of selling kitchen appliances in retail stores, however, the online channel is becoming more prominent as India's e-commerce business grows. Given the expanding competition among store-based retail shops and the increased amount of time spent by the general public on the internet, online sales of these appliances are likely to rise even more in the future. In addition, the easy payment plans and huge discounts offered online by eCommerce giants such as Flipkart and Amazon encourage customers to favor this channel over traditional in-store purchases.
Key Drivers of the Indian Kitchen Appliances Market
Increasing Trend of Modular Kitchens
The growing popularity of modular kitchens is a major driver of the Indian kitchen appliances market's expansion. Modular kitchens are created with usefulness, efficiency, and aesthetics in mind, and they have significant advantages over traditional kitchens. The growing popularity of modular kitchens has generated a need in the Indian market for innovative, space-saving, and elegant kitchen appliances. As a result, the market is witnessing the launch of various new and creative appliances. For instance, in February 2023, Electrolux expanded its range of built-in appliances in India. The company launched built-in UltimateTaste microwaves, UltimateTaste ovens, UltimateTaste dishwashers, UltimateTaste coffee machines, and UltimateTaste hobs and cooker hoods.
Changing Lifestyle
Changing lifestyle habits are a primary driver of the Indian kitchen appliances market's growth. With Indian customers' shifting lifestyle habits, there is a growing need for appliances that provide comfort, convenience, and efficiency. The growing number of working women, a trend toward healthier eating habits, and hectic lives are all driving factors in the expansion of the Indian kitchen appliances market. These developments have produced a desire for appliances that reduce cooking time, make food preparation easier, take less work and time to clean, assist in the preparation of healthful meals, and provide convenience and ease. In response, the market has introduced several new and innovative appliances, such as food processors, mixers, microwave ovens, air fryers, grills, steamers, automatic rice cookers, induction cooktops, and electric kettles, which are expected to drive the growth of the Indian kitchen appliances market. For instance, in May 2022, Mr. Butler, the only manufacturer of Home Sodamakers in India, launched the RoboChef, a multi-use automatic cooker. RoboChef acts as a slow cooker, pressure cooker, saute pan, rice cooker, cake maker, steamer, yogurt maker, egg maker, and a warmer. The RoboChef has a LCD Display panel and fourteen pre-set cooking features.
Increasing Disposable Income
Rising disposable income is a major driver of the Indian kitchen appliances market's expansion. Consumers are more willing to spend money on appliances with innovative features, technology, and designs as their disposable income rises. According to the data published by the Ministry of Statistics and Programme Implementation, the disposable personal income in India increased to INR 274,133,408 million in 2022, compared to INR 192,817,456 in 2018. As a result, various new and innovative appliances have entered the market to meet the changing demands and tastes of Indian customers.
Expansions and Innovations by Major Market Players
The Indian kitchen appliance market has significant contributors such as Bajaj Electricals Ltd., TTK Prestige Ltd., IFB Industries Ltd., Glen Appliances Pvt. Ltd., Electrolux AB, and LG Electronics Inc., among others. These players assist in the market’s growth with the launch of new products and through collaborations and investments. Some of the recent developments in the market include-
• In February 2023, Hafele introduced the Klara Highline Pro Kitchen Machine, a versatile kitchen appliance that combines the operations of many countertop appliances, including a whisker, beater, chopper, dough kneader, grater, mixer, sausage maker, juicer, and grinder. The machine has an innovative touch control panel, several speed settings, and an enhanced model design with a sleek matte finish.
• In August 2022, Hamilton Beach, a US-based small kitchen appliance brand, announced to launch its premium range of air fryer and panini maker in India. The air fryer's detachable nonstick basket and crisping insert enable cleaning easy. In addition, the panini maker and indoor grill has skewers for grilling dishes in less than 10 minutes.
• In August 2022, Thomson announced its entry into the small home appliances market in India with Flipkart. Thomson presented a wide selection of appliances as part of the launch, including kitchen appliances (juice mixers, sandwich makers, electric cookers), seasonal appliances (geysers, room heaters), and various home appliances (dry and steam irons) and more.