Till three years back, Cookware retail hardly received a standalone mention as a major retail sector in any of the analysis conducted on the Indian retail sector within the public domain. However, things are gradually improving. More than just satisfying the functional needs of the Indian consumer, modern retail in this sector is emerging to cater to the diverse needs of the customer–be it convenience, fashion or price.Currently the Cookware market in India is estimated to be in the range of Rs $320 – $360 million out of which Kitchen Accessories market is just about 18 per cent. The market was once a highly unorganized with organized players accounting for only 35 – 40 per cent of the market share, however things have now changed.
Cookware industry in India has received a major boom in the scenario and is fast growing. The industry is pegged to grow at around 21%, some of the key drivers which shall build the segment can be understood as under. The cookware market is exploding with innovation, need for enhanced convenience in the household is driving the rapidly growing demand. The increased purchasing power and evolving lifestyle has made the market extremely attractive. Due to high degree of urbanization, proliferation of nuclear families and technological advancement, there have been far-reaching changes in the nature of cookware products, overall the Indian markets have evolved over the years. All these factors combined builds a humongous potential for the market along with infinite opportunities to expand and serve numerous consumers.
Technological advancements in any particular field too plays a vital role for its survival &cookware industry is no different. Technology has played an essential role helping us reach beyond the conventional boundaries.
The hottest trends are reflective of what’s on the customer’s mind as they’re choosing how to equip and furnish their homes. The Cookware Industry has seen a drastic change over the past few years. Consumers earlier would follow the traditional approach of cooking in terms of the recipes, vessels and methods etc. As the world is getting smarter and better, people have now started making new choices and moving towards the modern way of approach.
With every passing era, there are new set of products making an entry in the market. It all started with Non-stick cookware and fifty years later, the cookware marketfurthermorekeeps on developing.
Consumers have now turned out to be more aware of the cookware through reality programs and cooking shows on TV, and retail passageways are overwhelmed with alternatives at each value point in avariety of materials. Mass manufacturing has empowered cookware to be delivered at lower costs, which in turn has extended the range of customer choice.
As far as trends are concerned, there are several important trends that largely dominate the cookware market; which includes the stylizing of cookware in order to transform the product from the functional kitchen tool to making it a part of an aspiration lifestyle. Such aspirations include catering to ‘green’ concerns for environmental friendliness and the health and the safety of the products offered. Moreover, cookware style and fashion is becoming increasingly important, especially for those at the higher end of the market. Consumers moving into new houses or remodeling their existing home often prefer the latest collections to match the interior of their kitchens.The most important trend that the cookware industry has to deal with is the growing tendency to question the safety of non-stick coatings. Manufacturers are working diligently to create a coating that is safe to use for the households. The Industry’s effort to introduce a new type of coating is mainly driven by the various concerns received from the consumer’s end.
For safety purposes, consumers have also started avoiding the use of plastic. Studies have proved that the toxic compound found in the plastic causes health problems ranging from cancer to infertility. Exposure to these kinds of chemicals can also reprogram your metabolism and make it more likely for you to store calories instead of passing them through causing obesity.The best solution which is affordable, convenient and really safeare the glass and certain types of stainless steel, glass or ceramic cookware.
Undoubtedly, it’s the Stainless-steel cookware that is considered to be the best choice for your kitchen. The surface of stainless steel does not flake, so pieces of the material do not break off and contaminate your food like with most non-stick cookware. It is a combination of metals including carbon, chromium, nickel and manganese.
Stainless steel pans often have an inner core of aluminum or copper, these two metals are very efficient heat conductors. Since the aluminum or copper is sandwiched between layers of steel and neither come in contact with the food, it makes it the most preferred cookware to be used for cooking on daily basis.
In earlier times, the cookware used in the kitchen used to acquire a lot of space, it was difficult to handle and was really heavy. Times changed, various brands in market introduced compact design cookware especially for small homes, apartments and travelling purposes. This proved to be the best option for the people who are short on storage space. Cookwares with detachable handles are launched by various brands which takes a step further towards intelligent cooking.
After this innovation, we also saw a change in the designs & looks of the cookware used nowadays. Gone are the days where the cookware was simple, silver and craved with the family names on it. Colourful, stylish, sleek and smart cookware entered the industry.This changed the way of looking for the perfect cookware for your kitchen. Several brands entered the market and the competition grew.
After coming up with stylish cookware, the brands then started with a new trend and introduced multi – purpose appliances. This innovation proved to be a boom for the people and made their complicated kitchen life much simpler. Hard work turned into smart work and cooking became a much easier task than it ever was.
Apart from the cookware, there has also been a change in the cooking approach. Cooking is no more restricted to women. Earlier women were considered as the synonym for home cooks, but the picture has changed today; the role of the cook is played by men as well and it is equally accepted in the society.
As the society is changed it has also helped in the change for the consumption patterns. Now healthy cooking is the new wave followed by people and it is not only witnessed at households but also followed by various restaurants across India. The hotels & restaurants are also adaptingitand gradually moving towards the healthy path and changing their food patterns. This wave has touched every part of India and world across.
To take this approach at the global level, social media has also played a very important role in it. In this technological savvy world, people have started experimenting and with the help of media making it viral. Latest apps have also acted as a key support to help people across the world to promote their various ideas, recipes, innovations, methods and style of cooking digitally and reaching out to the maximum masses possible.
The cookware industry has become more like the technology market.Every now and then there is a new innovation, a new update or a new launch seeking public attention at its best, expanding the industry as never before.
By: Mr. Sunil Agarwal (Director, Vinod Cookware)