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Consumer Goods & Services
Change of lifestyle- to aid a value CAGR of over 10% in India Microwave Oven, OTG & Toaster Market.
The increase in the tendency of consumers to spend on appliances that assist in kitchen chores is facilitating the growth of the microwave oven market. The changing lifestyle of consumers has encouraged them to select stylish and convenient appliances. A large part of new households comprises working singles that prefer to dine out rather than setting up their kitchen. This may be a drawback for the market. However, opposed to this, increasing awareness about the benefits of eating healthy, is to have a positive impact on the market. The market of Microwave ovens & OTG is expected to be growing at an anticipated CGAR of more than 10% by value. Other factors such as growing population, rising disposable income, and increasing interest in different cuisines are to impact the microwave oven, grills, and toaster market positively. High-energy consumption by microwave ovens is one of the major restraining factors in the Indian market. In many regions, high electricity cost limits the use of such appliances for household purposes. However, companies are now offering innovative microwave ovens, which consume less energy for cooking food faster and efficiently. The market is to grow to over 7.5 million Units by the end of the forecasted period. Product innovation is the key to stay ahead of the competition and expand reach.
Appliances that have technologically advanced features, and at the same time are user-friendly with ease of use are in demand. Widely classified into the normal and pop-up toasters, the market is led by the normal toaster with more than 70% of the market share. In the recent few years, the government authorities are pushing for energy-efficient appliances along with the growing demand from consumers. Toaster consumes less energy compared to ovens. The toaster is very popular owing to its features such as auto-close ability to retain heat inside the appliance. Smart appliances have made an appearance in the market, an increasing number of companies have been offering products that can be integrated into the user’s smartphone and other connected devices. The northern region dominates the market with a marginal share difference from the southern region. However, the prominent use of traditional cooking equipment in the Eastern regions of the country limits the growth of the market. Classified into four major segments of- Up to 20L, 21-25L, 26-30L, and 31L & more, based on capacity the market is led by the 21-25L segment. Companies are offering energy-efficient microwave ovens owing to the growing market demand. Consumers prefer less power-consuming microwave ovens. Companies are investing heavily in R&D to develop energy-efficient microwave ovens equipped with features such as access to the internet.
The Indian microwave oven market is segmented based on product type, capacity, application, and sales channel. The three primary types of microwave ovens available in the market include solo, grill, and convection microwaves. Solo microwaves are the most affordable and cater to basic heating and cooking needs, making them popular among bachelors and small families. Grill microwaves come with additional grilling capabilities, appealing to consumers who enjoy grilling meats and vegetables. Convection microwaves, which offer baking, roasting, and grilling functions along with standard reheating, are the most advanced and preferred by modern households and baking enthusiasts. In terms of capacity, microwave ovens are categorized into small (less than 20 liters), medium (20–30 liters), and large (above 30 liters). Small-sized microwaves are widely used by individuals and small families, whereas medium and large ones are preferred by bigger families and commercial users. The Indian microwave oven market is growing due to increasing urbanization, rising disposable income, and a shift towards modern kitchen appliances. Additionally, online retail platforms and organized retail chains are making it easier for consumers to access a variety of brands and models, further driving the market expansion.
The Indian OTG toaster market is segmented by capacity, application, features, and sales channel. OTGs are available in different sizes, ranging from small (10–20 liters) to large (above 40 liters), catering to different consumer needs. Small and medium-sized OTGs are preferred by household users for baking and grilling, while large OTGs are used in commercial kitchens and bakeries. In terms of application, the demand for OTGs is rising among home bakers, small food businesses, and restaurants due to their ability to bake, toast, and grill food efficiently. Unlike microwaves, which use electromagnetic waves, OTGs use heating elements, making them ideal for professional baking. This makes them a favorite among cooking enthusiasts who prefer traditional baking and roasting methods. The market has also seen advancements in features, with modern OTGs equipped with temperature control, multiple cooking modes, rotisserie functions, and digital displays. These enhancements make them more user-friendly and efficient. Sales of OTGs have significantly increased through both offline and online channels, with e-commerce platforms offering discounts, easy financing options, and doorstep delivery. The rising popularity of home baking and grilling, coupled with increased cooking content on social media, has further fueled market growth in India.
Appliances that have technologically advanced features, and at the same time are user-friendly with ease of use are in demand. Widely classified into the normal and pop-up toasters, the market is led by the normal toaster with more than 70% of the market share. In the recent few years, the government authorities are pushing for energy-efficient appliances along with the growing demand from consumers. Toaster consumes less energy compared to ovens. The toaster is very popular owing to its features such as auto-close ability to retain heat inside the appliance. Smart appliances have made an appearance in the market, an increasing number of companies have been offering products that can be integrated into the user’s smartphone and other connected devices. The northern region dominates the market with a marginal share difference from the southern region. However, the prominent use of traditional cooking equipment in the Eastern regions of the country limits the growth of the market. Classified into four major segments of- Up to 20L, 21-25L, 26-30L, and 31L & more, based on capacity the market is led by the 21-25L segment. Companies are offering energy-efficient microwave ovens owing to the growing market demand. Consumers prefer less power-consuming microwave ovens. Companies are investing heavily in R&D to develop energy-efficient microwave ovens equipped with features such as access to the internet.
The Indian microwave oven market is segmented based on product type, capacity, application, and sales channel. The three primary types of microwave ovens available in the market include solo, grill, and convection microwaves. Solo microwaves are the most affordable and cater to basic heating and cooking needs, making them popular among bachelors and small families. Grill microwaves come with additional grilling capabilities, appealing to consumers who enjoy grilling meats and vegetables. Convection microwaves, which offer baking, roasting, and grilling functions along with standard reheating, are the most advanced and preferred by modern households and baking enthusiasts. In terms of capacity, microwave ovens are categorized into small (less than 20 liters), medium (20–30 liters), and large (above 30 liters). Small-sized microwaves are widely used by individuals and small families, whereas medium and large ones are preferred by bigger families and commercial users. The Indian microwave oven market is growing due to increasing urbanization, rising disposable income, and a shift towards modern kitchen appliances. Additionally, online retail platforms and organized retail chains are making it easier for consumers to access a variety of brands and models, further driving the market expansion.
The Indian OTG toaster market is segmented by capacity, application, features, and sales channel. OTGs are available in different sizes, ranging from small (10–20 liters) to large (above 40 liters), catering to different consumer needs. Small and medium-sized OTGs are preferred by household users for baking and grilling, while large OTGs are used in commercial kitchens and bakeries. In terms of application, the demand for OTGs is rising among home bakers, small food businesses, and restaurants due to their ability to bake, toast, and grill food efficiently. Unlike microwaves, which use electromagnetic waves, OTGs use heating elements, making them ideal for professional baking. This makes them a favorite among cooking enthusiasts who prefer traditional baking and roasting methods. The market has also seen advancements in features, with modern OTGs equipped with temperature control, multiple cooking modes, rotisserie functions, and digital displays. These enhancements make them more user-friendly and efficient. Sales of OTGs have significantly increased through both offline and online channels, with e-commerce platforms offering discounts, easy financing options, and doorstep delivery. The rising popularity of home baking and grilling, coupled with increased cooking content on social media, has further fueled market growth in India.
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