Date : August 01, 2016
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Increasing LPG prices & modular kitchen to drive the demand for Induction Cooktop in Indian markets: Bonafide Research

Increasing LPG prices & modular kitchen to drive the demand for Induction Cooktop in Indian markets: Bonafide Research

Demand of modular kitchen, increasing price of LPG and fuel, number of working women's, expanding middle class and rising availability has made this market more attractive and popular. Moreover, the fact that most of the Indian dishes can be prepared using an induction cooker has added to its popularity. Some brands of induction cooktop have now started providing specially programmed cooktops with preset functions for Indian cooking.

Millennials in the country are now shifting towards the adoption of energy-efficient cooking appliances, which is an important driver in the market growth. Innovative features like heat adjustment variation knobs and timer is a key factor driving the growth of the target market. The increased demand from the consumers in the country is backed by other factors like rapid urbanization and an incline in disposable income. Moreover, the multi-functionality, power efficiency, increasing cooking gas prices, and rising number of nuclear is also accelerating the demand for electric cookers & induction cooktop market. The growing importance regarding the different energy-saving appliances counting electric cookers and induction cooktops for dropping household expenses along with the rising focus of manufacturers on making technologically advanced electric appliances are boosting various potential opportunities in the market during the forecasted period. The recently uploaded report by Bonafide Research – India Induction Cooktop & Electric Cooker Market Outlook, 2027-28, provides insights on the market, through market size by value & volume and market share by category, region, sales channel & company. The enormous growth of induction cooktop and electric cooker market is formed by its functionality, technology, energy efficiency and aesthetics. Electric cookers are still a very modern concept for India and hence their demand will continue to grow mainly into urban cities.

Electric cookers, which are slowly catching up the Indian market, are expected to have healthy adoption and acceptance during the forecast period. However, they will record much slower growth as compared to induction cooktops. Advantages associated with electric cookers like preparing nutritious and tasty meals within a shorter span of time has added to its demand. Many quick service restaurant formats which have introduced rice dishes recently have also started using electric cookers in their outlets.

The most active appliance and often the most distinctive, stovetop is the start of every great meal. The blend of form and function is paramount in the kitchen. The designs of the future largely depend on the technologies and materials available. Induction cooktops are rewriting the rules of cooktop design, creating new form factors and user interface possibilities to ensure that it remains an eye-catching part of every kitchen. Manufacturers are seeking new materials and features that create innovative & useful appliances and offer the home cook a superior experience as well as a worthy centerpiece for their kitchen. An increase in the nuclear family lifestyle along with the improvement in living standards is expected to remain a key factor for the industry’s growth. Furthermore, this brings in the need to trim the household expenses, which makes the families shift towards induction cooktops and electric cookers, rather than conventional appliances.  

Changes in the country’s preferences have paved the way for kitchen appliance manufacturing firms to experiment with product designs. Product expansion strategy allows the marketers to acquire a better customer base for expansion. Moreover, the manufacturers are focusing on offering multi-functionality attributes associated with different capacities from small to extra-large in order to suit individual needs. The feature of the cooking surface of the induction cooktop, which is most appealing to homeowners, is the added measure of safety provided by induction technology. It works by using magnetic energy to conduct heat directly to the cookware. This means that the cooking surface remains cool and touchable the entire time. This development has not only revolutionized how homemakers cook but also shatters the design barriers associated with gas and electric interfaces. Since the surface does not heat up, the consumer can avoid foods being cooked onto the surface, thus the surface can easily be wiped clean. Moreover, the non-heat surface also eliminates cooked stains that are usually very common with other types of cooktops.

The leading market players in the region are now focusing on the development of improved quality products with added features to increase their market share holder. The market is now enjoying the introduction of induction cooktops with advanced auto cook features and multiple hot surfaces to gain market traction. The foreseen expectation is the eco-friendly and energy-efficient induction cooktops with additional benefits of inclusion of more burners, noiseless operations, and touchscreen functionalities. 

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Increasing LPG prices & modular kitchen to drive the demand for Induction Cooktop in Indian markets: Bonafide Research

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