India’s consumption of stainless steel in the household sector

Winning over Indian households with stainless steel

With an annual, international issue and a quarterly domestic issue focused exclusively on the stainless steel houseware industry, Steel Market Info magazine has been covering the tremendous growth of domestic stainless steel in India for the past 20 years. In a recent interview, the editor-in-chief of Steel Market Info, Mr. R L Choudhary, offered up facts, figures, and analysis regarding India’s consumption of stainless steel in the household sector.
 
^ India’s consumption of stainless steel in the household sector

Article by Daniel Sweet
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A recent conversation with Mr. R L Choudhary on the houseware sector for stainless steel in India began with a number crunch. The editor-in-chief of stainless steel magazine Steel Market Info, Mr. Choudhary, said that “as far as the Indian market is concerned, stainless steel houseware makes up the majority of consumption. Just look at the numbers: the total production of stainless steel in India is 3.5 million tons per annum.

Out of that number, some 50-55% is used in the houseware industry, and in the last 5-7 years, the market has grown by 12-18%. This is really significant, as the stainless steel houseware sector has remained at the top of the Indian market for many years—and the trend in growth suggests it will stay there.”

Asked about the reasons for the tremendous growth in stainless steel houseware, Mr. Choudhary cited the population of India along with a rising middle class, a far-reaching service industry, and the increasing consumer familiarity with the benefits of stainless steel. “As we all know, India has a big population. And in the countless cities, towns, and villages across the country where this population resides, stainless steel has become a key part of kitchens and households. In addition to use in private homes, stainless steel can be found in restaurants, hotels, and other service-oriented businesses. This is because stainless steel houseware and accessories are known as resilient, corrosion resistant, and safe for the preparation of food and other consumables. As we have written in Steel Market Info, India has ‘won the battle with rust’ thanks to stainless steel, and as more people learn about the beneficial properties of stainless, more people buy stainless houseware products.”

"India is providing good quality cookware at competitive prices, without compromising on quality.

Advantage India

There are a number of factors that make Indian stainless steel houseware the preferred choice for domestic and international buyers. “In terms of the stainless steel itself, there is not much difference across all markets— stainless steel houseware is most commonly produced in grades 202 and 304. But India in particular is providing good quality cookware at competitive prices, without compromising on quality. This means that domestic buyers can rely on the products available from their countrymen’s businesses. But it also means that Indian stainless steel houseware is desirable outside the country. Around 400 exporters in India are moving houseware and hotel ware products to other countries. A significant portion of demand comes from European, US, Gulf, and African markets. So if you go to a houseware trade show, for example, there are many exporters who are supplying to different chains all around the world. Indeed, a good quantity of stainless steel houseware is moving to other countries, and I really see the market for exports growing. I believe that in the next 2-3 years, it will grow by 15-20%.

Houseware 2020

The topic of houseware trade shows steered the conversation with Mr. Choudhary toward Houseware 2020, an annual show put on by the team behind Steel Market Info. “This year’s show will be our 11th. We are expecting between 150-200 exhibitors at the show, and these are mostly domestic companies aimed at the houseware market. Though there are a number of international visitors, many of the attendees are from India—it mainly is a national show.”

“To give an idea of the upcoming show, scheduled for July 18-20 in New Delhi, we look back to the previous exhibition: Houseware 2019. That show attracted some 5,000 visitors, including wholesalers, retailers, distributors, dealers, buying agents, exporters & importers from the hospitality, restaurant, and hotel industries. For the upcoming three day show in 2020, we are expecting 10,000 trade visitors from India and overseas, spread across a 10,000 sq. meter space. We expect another great show.”
 

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