Induction Cooktop & Electric Cooker Market in India
This report gives an in-depth analysis of induction cooktop & electric cooker industry in India. The enormous growth of induction cooktop and electric cooker market is formed by its functionality, technology, energy efficiency and aesthetics. In India, induction cooktop market has much greater volume shares as compared to electric cookers. 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.
“India Induction Cooktop & Electric Cooker Market Outlook, 2021”, induction cooktop market is expected to grow at a CAGR of around 25% over next five years. Prestige, Bajaj, Preethi and Pigeon are some of the leading brands operating in the induction cooktop market of India. The sales have been very aggressive in northern and western regions of India whereas other regions are also expected to create demand in the forecast period due to increasing awareness of the product and high living standard of consumers. Delhi, Chennai, Mumbai, Bangalore and Pune are the major cities in case of sales value and volume. Other cities are also contributing their presence in this segment and expected to grow during the forecast period. Portable, single and standalone units of induction stove are also available in the market to attract Indian consumers which is driving the demand of induction cooktops.
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. These commercial outlets see noteworthy effectiveness in their operations as electric cookers save their time, manpower and space. Nevertheless, electric cookers are still a very modern concept for India and hence their demand will continue to grow mainly into urban cities. Supermarkets, convenience stores and hypermarkets have emerged as a key points-of-sale offering a wide range of such modern appliances in the country. Big retail players such as Big Bazaar, Croma, Reliance Digital etc. have proven to be a major contributor in increasing the awareness level among Indian consumers.
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