Amway Plans to Foray into Indian Cookware Market

India: The American food and nutrition company, Amway, which has a presence in the Indian market through 130 products across nutrition, beauty, home care and personal care categories, has decided to launch a premium cookware range called ‘Amway Queen’.

The product has been priced at around USD460 (INR30,000) and will offer a five-piece cookware set under the new range. The company is expecting a contribution of more than 10% to its revenues in the next three years. To establish the market in this segment, Amway must compete against dominating players like TTK Prestige Hawkins Cookers Ltd., Wonderchef Home Appliances Pvt. Ltd, etc. The company has also spent a substantial amount to promote the product by providing demonstrations in order to show the efficacy of the product and equipping the sellers with the appropriate tools for the demonstration purpose.

TechSci Research depicts that the step taken by Amway is an attempt to diversify its product portfolio. The company already has a reputation for providing quality nutrition and personal care products and this reputation will help them foray into the Indian consumer durables market. This also indicates that the company will launch other products in this segment in the foreseeing future. However, Amway will have to build up to the reputation of players who have been in the non-electric appliance market for many years.

According to a report published at TechSci Research, “India Non Electric Kitchen Appliances Market Forecast & Opportunities, 2020”, the country’s non electric kitchen appliances market is projected to grow at a CAGR of more than 12% during 2015-20. Southern region, closely followed by Northern region, dominates the non electric kitchen appliances market and the trend is expected to continue through 2020. Dominant segment in the country’s non electric kitchen appliances market include pressure cookers, gas stoves, cook & serve ware, and spatulas & ladles. TTK Prestige, Hawkins Cookers, Jaipan Industries, Pigeon Kitchen Appliances are few of the major non electric kitchen appliance players operating in India. “India Non Electric Kitchen Appliances Market Forecast & Opportunities, 2020.