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Rise in online content for food preparation will boost the electric kitchen appliances market in India: Bonafide Research
Aug, 25
2021

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Rise in online content for food preparation will boost the electric kitchen appliances market in India: Bonafide Research

 

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The rise in online content for delicious, Healthy, and variety of food dishes and drinks with its reach to a vast Indian population will contribute to the growth of the electric kitchen appliances market. Also, the rise in despicable income & nuclear families, concern about health and nutrition, and trends of homemade foods drive the market growth. Where affordable products help in the fast and easy food preparation. The innovation of new technology and improvement in product efficiency and performance enable the electric kitchen appliances product to penetrate the market. In today's world, electric kitchen appliances have become an essential part of modern life. The market is replete with a range of appliances designed to suit various requirements of consumers across the country. Key factors driving growth in the market include increasing numbers of working women, rapid urbanization, a growing number of households, a rise in dual-income nuclear families, improving standards of living, rising disposable income, and higher per-capita spend on lifestyle stuff. The rising buying power of consumers across India has driven the adoption of luxurious products and appliances, thus satisfactorily impacting industry demand. In addition to economical factors, social and cultural factors also influence demand for the same in the market. According to the recently published report of Bonafide Research "India Electric Kitchen Appliances Market Outlook, 2026", the market is expected to grow at a CAGR of around 12.17% by value over the period of years 2021 to 2026 and will reach a value of INR 22989 Crore at the end of the year 2025-26.

These electric appliances reduce human labor, save time and prepare quality food. The use of kitchen appliances is complex in past times but in current times as these products are widely used and the guide material and video tutorials are available the complexity has been removed. Now anyone can learn about the function of electric kitchen appliances through online content. There are a variety of products available in the market for a specific application, Price range, Brands, Category. The marketplace is witnessing a steady influx of high and low-priced appliances with inventive features that can be used in day-to-day kitchen activities. Manufacturers are focusing on developing elegant and autonomous electric devices by intelligent electronic control, integrating auto-sensors, and machine programming concepts with various price ranges and energy-saving technology. Small electric appliances are expected to show strong potential for future expansion, especially against a backdrop of escalating fuel costs and growing government emphasis on LPG prices and availability and portability of the same. According to Bonafide research, changing cultural trends and high disposable income in the North region resulted in the highest market share for electric kitchen appliances. Whereby CAGR growth the East region is leading due to the low penetration till tie in the region.

For instance, smart grid-connected induction cooktops and electric cookers are currently being developed to enable consumers to better manage their electricity consumption prototype. The growing trend of home automation appliances is also expected to result in an increased number of electric kitchen appliances connecting to home computer networks. Escalating induction technology in the wake of rising fuel prices is anticipated to propel the category over the forecast period. The growing popularity of induction technology is an attractive opportunity for industry participants. Increasing environmental concerns and efforts for the promotion of clean and noise-free devices will positively impact the demand. The growing adoption of modern appliances like induction cooktops and microwave ovens as a substitute to the conventional ways of cooking is estimated to be the key driver for the market. The induction cooktop and electric cooker market is expected to grow by a CAGR of more than 11% in India. An increase in the proliferation of home automation solutions will result in the populace’s augmented demand for microwave ovens that have advanced features like Wi-Fi connectivity and LCD screens. Technology advancements have resulted in the development of smart equipment that has a touch sensor, digital display, and auto safety tools for improving aesthetics and control. The rise in cultural trend will drive the Microwave and OTG market, adoption of healthy homemade products will drive the juicer mixer and extractor demand, low availability of time and manual process drive the demand of blender, chopper & toaster, requirements of quick food rise electric kettle demand, Replacement of older and obsolete devices with energy-efficient products are key factors for the market. An important factor that will spur the prospects for growth is the advent of the Internet-of-Things (IoT). New electric appliances are also equipped with internet connectivity and are part of the IoT network, which enables monitoring with a live video stream and updates using applications. Due to the recent augment in digitization, consumers will spend more money on the acquisition of kitchen automation solutions. Major companies operating in electric consumer products manufacturing the electric kitchen appliances in India like Bajaj Electricals, LG electronics, Panasonic, Havells, Samsung, Whirlpool, Crompton, Philips, etc. Along with this some companies like Butterfly Gandhimathi Appliances, Indian Fine Blanks Ltd., Kitchen Appliances India Limited, Groupe SEB India Pvt. Ltd., Panasonic India Pvt. Ltd., Preethi Kitchen Appliances Pvt. Ltd., Stovekraft Pvt. Ltd, TTK Prestige Limited has the leading market share and presence in the Indian electric kitchen appliances market.