TTK Prestige reports a significant shift in India’s kitchenware market as consumers increasingly replace traditional products with premium, better-performing alternatives, fuelling a major upgrade cycle and a surge in demand for induction cooktops and cookware.
TTK Prestige says India’s kitchenware market is in the middle of a broad replacement and refurbishment cycle, with shoppers increasingly swapping out perfectly usable products for items that offer sharper design, newer materials and better cooking performance. The company says the shift began with induction cooktops and has since widened to cookware, pressure cookers and small domestic appliances.
Managing director and chief executive Venkatesh Vijayaraghavan said the company has added 250 to 300 stock-keeping units over the past two years as it positions itself for that upgrade cycle. He said kitchenware capacity has risen by 50% to 60% over the same period and is set to be almost twice the level of two years ago by the end of this year. Induction capacity has also nearly doubled, while demand in that category is growing at about 150% year on year.
The company expects the current surge to ease but remain at a structurally higher level, with premiumisation still at the centre of its strategy. E-commerce, which accounts for about 20% of sales, is expected to settle in the 25% to 30% range, while the company is also seeing solid traction through its more than 750 own stores and general trade. Vijayaraghavan said the mass market is growing as well, and that Judge, the company’s kitchenware appliances brand, is benefiting as consumers move away from unbranded products.
The upbeat comments come after a strong June quarter, when TTK Prestige reported consolidated net profit of ₹59.33 crore and operating revenue of about ₹814 crore, up nearly 34% year on year. Moneycontrol reported that the profit more than doubled from a year earlier, while other market reports noted that investors have been encouraged by demand for induction cooktops and premium cookware. More broadly, industry research points to steady expansion in the global kitchenware market over the rest of the decade, underlining the commercial case for companies betting on product upgrades and home cooking trends.
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