India Pressure Cooker Market size is projected to grow at a CAGR of 6.4% during 2021-27F
The increasing number of modular kitchens and rising disposable income in India are also the major factors contributing to the growth of the pressure cooker market.
India’s Pressure Cooker Market report comprehensively covers the market by material type, capacity, distribution channel, application and region. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/ high growth areas, market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
India’s Pressure Cooker Market Synopsis
The Indian pressure cooker market witnessed considerable growth in recent years on account of the growing consumer demand for pressure cookers in India underpinned by strong growth of urban population in the country and rising hospitality sector. The demand for pressure cookers witnessed an upward growth trajectory mainly attributed to the rise in demand from urban consumers as they are more inclined towards modern-day kitchenware.
However, the spread of COVID-19 in 2020 resulted in complete turmoil for the retail and hospitality sector due to the social distancing measures adopted to curb the spread of the virus, which in turn led to a sales downfall for the retail segment in between the lockdown period.
However, once the e-commerce platform started operating in the lockdown period, the sales of pressure cookers started to get back on track as people being at home had ample amount of time for cooking and the increased number of cooking videos were being watched leading to a trend of cooking amongst the urban households of the country. Moreover, with the gradual upliftment of lockdown restrictions, the retail sector started to reopen which led the Indian pressure cooker market back to its growth trajectory.
The projected growth in the market for the coming years can also be attributed to the government’s Pradhan Mantri Ujjwala Yojana which has an assigned budget of INR 12,800 crore for providing LPG connections across rural India. With the different designs and innovations by the manufacturers in the pressure cooker industry, the adoption of modern pressure cookers is anticipated to rise in the coming period.
Market by Material Types Analysis
In terms of Material Types, aluminium and stainless steel cumulatively have captured 70% of the market revenues in 2020, with aluminium leading the market. aluminium held the majority market share in the India pressure cooker market owing to the low pricing of aluminium pressure cookers as compared to other material types including stainless steel, brass and hard anodized aluminium.
Moreover, the large rural population of the country is still inclined towards aluminium pressure cookers owing to their higher availability in the rural areas from the unorganized sector and lower pricing.
- Historical Data and Forecast of Market Revenues, By Distribution Channels, for the Period 2017-2027F
- Historical Data and Forecast of Market Revenues, By Regions, for the Period 2017-2027F
- Market Drivers
- Market Restraints
- India Pressure Cooker Market Trends
- India Pressure Cooker Market Player’s Revenue Shares
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Scope and Segmentation
- Bajaj Electricals Limited
- Borosil Limited
- Butterfly Gandhimati Appliances Ltd.
- Hawkins Cooker Limited
- Stovekraft Ltd.
- TTK Prestige Limited
- United Metalik Pvt. Ltd.
- Vinod Cookware
The report provides a detailed analysis of the following market segments:
By Material Types
- Stainless Steel
- Hard Anodised aluminium
- Up to 3 Litre
- 1 -5 Litre
- Above 5 Litre
- By Applications
By Distribution Channels
For more information about this report visit https://www.researchandmarkets.com/r/ee6ta0
The content is by Business Wire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.