The home and household sector is expected to reach around $237 billion by 2030, growing at a CAGR of over 10 per cent, stated Deloitte India’s Powering Consumption Growth: India’s Home and Household market report. The growth, it added, will be fuelled by increasing disposable incomes, shifting consumer preferences and a growing focus on comfort and convenience across product categories.
The home and household market is witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. The demand growth is driven by high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to consumers.
Even as the home and household industry is expanding rapidly, there are limitations for businesses to handle, like after-sales support, warranty worries and the need for a comprehensive omnichannel strategy. The domestic bottled soft drink category emerged the biggest gainers in the June quarter, according to market research agency Kantar.
Further, sustainability is also becoming a central concern for consumers with rising demand for energy-efficient appliances and eco-friendly kitchenware. In line with this, manufacturers are increasingly investing in water-saving bathroom fittings, sustainable kitchen solutions and energy-efficient technologies to cater to eco-conscious consumers. This trend, coupled with government policies such as the Production Linked Incentive (PLI) scheme, Pradhan Mantri Awas Yojana (PMAY), SMC, UJALA and PM Mitra, is driving demand and attracting investments in the home and household sector.
Anand Ramanathan, Partner, Consumer Products and Retail Sector Leader, Deloitte India, said, “India’s home and household market is witnessing a remarkable evolution, where consumers are gravitating towards premium and branded products, with businesses increasingly adopting a consumer-first approach. There is a deeper focus on consumer experiences and design-led product innovation. Social media and advanced technologies enable companies to precisely target and engage their audiences, making the market more dynamic and responsive to changing needs.”
In terms of channels, Deloitte said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. To stay ahead, companies must embrace emerging trends like quick commerce, rethink their operating models and integrate innovation across the value chain—from products to post-sales services, the report stated.
Source: The Financial Express
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