India's Home & Household Market Growth Insights

Market Overview

India's home and household market is projected to reach USD 237 billion by 2030 at a CAGR of over 10 percent, according to a recent Deloitte report. This remarkable growth is influenced by increasing disposable income, evolving consumer preferences, and a rising focus on comfort and convenience.

Key Drivers of Growth

• The report, Powering Consumption Growth-India's Home and Household Market, launched at the MAPIC India 2024 event, highlights strong demand particularly in tier 2 and tier 3 cities.
• Factors such as high disposable incomes, the popularity of digital platforms, and young consumers driving demand for personalization in home products are crucial.
• The demand for omnichannel retail and e-commerce is helping businesses engage with consumers beyond urban centers.

Consumer Trends and Challenges

India's home and household sector is evolving, with a shift towards premium products and a consumer-first approach. Anand Ramanathan from Deloitte India notes that companies are now more focused on innovative designs and enhancing consumer experiences. However, businesses face challenges including after-sales support and warranty concerns.

Sustainability and Investment Opportunities

• Sustainability is increasingly important for Indian consumers, with a surge in demand for energy-efficient appliances.
• Manufacturers are investing in sustainable solutions like water-saving fittings and eco-friendly kitchen products.
• Government initiatives further support demand, providing investment opportunities within the sector.

To remain competitive, companies must embrace trends like quick commerce and innovate across all business operations, from product development to post-sales services.