Prior to 2020, sales of microwaves were declining. These appliances are not seen as compatible with local cooking habits, especially for traditional Indian cuisine which relies heavily on frying and sautéing, for which microwaves are unsuitable.
Consumers can choose from a plethora of options, with microwaves available in different sizes and with various capacities and features. Manufacturers have also featured microwave ovens in their advertisements to keep the product relevant to customers in the current COVID-19 times.
Although consumer appliances in 2020 were largely built in India, there was still 25-70% dependency (depending on the category) on China for components. With COVID-19-related restrictions on international borders, increasing tensions on the Indo-China border, and the “Vocal for Local” initiative gaining momentum in 2020, companies started to look for solutions within the country and reduce their dependency on China for components.
With microwaves becoming slightly more affordable in the latter stages of the review period, retail volume sales performed well in 2020. Unit prices are expected to continue to decrease in the forecast period, as a reflection of the changing lifestyle and preferences of customers beyond metros, expanding to second- and third-tier cities.
With the increased affordability of these appliances, microwaves continue to make good gifts for auspicious occasions such as weddings, housewarming, festivals etc. Entry-level microwaves in the INR5,000-9,000 price range (depending on their capacity) have gained traction among the working population who have some utility for microwaves in their busy lifestyles.
Global companies are working towards the concept of smart microwaves – appliances that connect to a smart home network over Wi-Fi and include all the features typical to smart devices. These microwaves are voice-enabled and have voice controlled systems, have proximity scanners, can send alerts to smartphones, have moisture sensors and several other smart features.
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Understand the latest market trends and future growth opportunities for the Microwaves industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Microwaves research and analysis database.
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