Market drivers:

The growth in market demand for washing machines has recently expanded at an impressive rate in India. The growing penetration of washing machines is directly increasing the demand for machine-wash laundry detergents. Moreover, the purchasing power of Indians has increased, which is encouraging many players in the detergent market to expand their network and upturn product penetration, especially in the rural market.

Market challenges:
Based on product pricing, laundry detergent manufacturers in India often face stiff competition. In addition, there is not much scope of product differentiation in the sector. Thereby, product differentiation, and high competition act as deterrents to the growth for the market players.

Companies covered:
1. Fena Pvt. Ltd.
2. Godrej Consumer Products Ltd.
3. Hindustan Unilever Ltd.
4. Jyothy Laboratories Ltd.
5. Nirma Ltd.
6. Patanjali Ayurved
7. Procter & Gamble Home Products Ltd.
8. Reckitt Benckiser (India) Ltd.
9. Rohit Surfactants Pvt. Ltd.

Customization available:

The post Laundry Detergent Market in India (2018-2023) first appeared on CRI Report.

Around 50% of soaps produced are sold in rural markets. Increasing awareness of hygienic standards in rural areas is providing growth opportunities to several players. Manufacturers are introducing soaps in different sizes and ranges, targeting consumers from low-income groups. Currently, there are around 5 Mn retail outlets in India which sell soaps, out of which 3.75 Mn operate in rural areas.
Herbal soap is the fastest growing category in the soap market in India. Margo and Medimix dominate the herbal and medicinal soap segment. Government initiatives like Swachh Bharat Mission, which promotes health and hygiene, has led to the growth of the soap manufacturing industry. During FY 2017, the United Arab Emirates (UAE), Nepal, and the United States of America (U.S.A.) were the top three export destinations of soaps.
Market segment insights:
The soap market in India is segmented based on brands, (Lux, Dove, Pears, Santoor, etc.), category (beauty soaps, health soaps, and others), and players operating in the market (Hindustan Unilever, ITC, Wipro, and others). During FY 2017, the beauty soaps segment had a market share of ~50%, followed by the health soaps segment. Popular beauty soap brands operating in the market are Lux, Dove, Pears, Santoor, and Vivel. During the same period, Lux was the leading soap brand with a market share of ~13.5%, followed by Santoor, Vivel, and other brands.
Key growth drivers of the market:
Bathing soaps with cooling agents and herbal ingredients are attracting more customers. People these days prefer herbal soaps because of their therapeutic value. Nearly 315 Mn users in rural areas will be connected to the internet by 2020. Increased internet penetration will help rural consumers to explore the market and avail offers online. Growing awareness about sanitation and increasing disposable income in rural India will be key drivers for the growth of the soap market.

Key deterrents to the growth of the market
Most of the chemicals used in soaps can be harmful for skin. Presence of chemicals and other toxic elements in soaps can discourage people from using them. This, in turn, can have a negative impact on the growth of the market.

Companies covered:
1. Colgate Palmolive (India) Ltd.
2. Godrej Consumer Products Ltd.
3. Hindustan Unilever Ltd.
4. ITC Ltd.
5. Jyothy Laboratories Ltd.
6. Wipro Ltd.
7. Cholayil Pvt. Ltd.
8. Karnataka Soaps and Detergents Ltd.
9. The Himalaya Drug Company
10. Reckitt Benckiser (India) Pvt. Ltd.

Customizations available

The post Soap Market in India (2018-2023) first appeared on CRI Report.

Key growth drivers of the market:
• Increased spending on infrastructure by the Government of India, coupled with rapid urbanization is promoting the demand for residential and commercial buildings.
• Growing space requirements from various sectors like healthcare, education and IT is making real estate a profitable industry for the ceramic tiles manufacturers of India.
• Apart from new projects, the demand for ceramic tiles has increased from projects related to the replacement of tiles in residential and commercial construction. The replacement market is expected to witness a strong growth in the coming year, thus driving the growth of the ceramic tiles market of India.
Key deterrents to the growth of the market:
Domestic ceramic tiles manufacturers face challenges due to the rise in the cost of production, which, in turn, hampers the profit margin of the manufacturers. An appreciation of the dollar against the rupee has increased the price of compressed natural gas (CNG) which constitutes 30% of the input cost for manufacturing ceramic tiles, hence increasing the total cost of production.

Companies covered:
1. Asian Granito India Limited
2. Euro Ceramics Limited
3. H & R Johnson (India) Limited
4. Kajaria Ceramics Limited
5. Nitco Limited
6. Orient Bell Limited
7. Varmora Granito Private Limited
8. RAK Ceramics India Private Limited
9. Somany Ceramics Limited
10. Murudeshwar Ceramics Limited

Customizations available

The post Ceramic Tiles Market in India (2018-2023) first appeared on CRI Report.

Category-wise segment insights:

The air care market operates in three main segments – home fresheners, car fresheners, and bathroom fresheners. In 2016, the home fresheners segment was valued at INR 1.5 Bn. The car fresheners segment was valued at INR 2.5 Bn in the same year, thus acquiring a 50% share of the overall air care market in India. With a rise in the sale of cars, the market share of car fresheners has picked up in recent years.

Market drivers:
Consumers, lately, are willing to experiment with different variants of air care products, including spray/aerosol air fresheners, to keep homes odor-free. Urban consumers are switching from traditional products such as incense sticks to more sophisticated and modern offerings such as aerosols. The demand for premium and value-added air freshener products with better fragrance is growing rapidly among upper-middle-class consumers.

Market challenge:

Most of the air fresheners available in the Indian market contain harmful ingredients like phthalates, which can result in reproductive abnormalities, allergies, and asthma. People, who are aware of the consequences of such ingredients, often stay away from air fresheners.

Companies covered:
1. Dabur India Limited
2. Godrej Consumer Products Limited
3. Airance
4. J.K. Helene Curtis Limited
5. Midas Care Pharmaceuticals Private Limited
6. Procter & Gamble Home Products Private Limited
7. Reckitt Benckiser (India) Private Limited
8. S.C. Johnson Products Private Limited
9. Sara Lee Corporation

Customization available

The post Air Care Market in India (2018-2023) first appeared on CRI Report.

Global foundry market insights:

In 2017, global castings production witnessed an increase of ~5.3% from 2016, and reached a value of ~110 Mn tonnes. Based on total output, Russia had the highest growth in 2017, with an increase of ~8.3% in production from 2016. China increased its production by 2 Mn tonnes, reaching a total of 49.4 Mn in 2017. Increasing production of light vehicles worldwide is acting as a key growth driver for the global foundry market. The growth in production of light vehicles is expected to increase demand for new cast metal parts, across the world, and also lead to the replacement of old metal casting products with more energy efficient metal casting solutions.

India foundry market insights:
Casting production in India reached a value of 11 Mn tonnes in 2018, and is expected expand at a compound annual growth rate (CAGR) of ~12.7% from 2018 until 2023. The automobile sector consumes around 40% of castings produced in India. As of 2018, aluminum castings contributed around 15% of the total castings production in the country. The share is expected to increase considerably by the end of 2023, owing to a shift in demand from iron to lighter castings materials for manufacturing fuel-efficient automobiles and electronic vehicles (EVs). Expansion of infrastructure by the government is expected to generate demand for a wide variety of machinery and equipment such as cranes, fans, motors, appliances, pumps, conveyor equipment, etc. which, in turn, will create fresh demand for metal castings.
The major foundry clusters are located in Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholapur, Rajkot, Mumbai, Ahmedabad, Belgaum, Coimbatore, and Chennai, among other Indian cities. Each of these foundry units caters to some specific end-use market. The Coimbatore cluster is famous for pump-set castings, the clusters in Kolhapur and Belgaum are known for automotive castings, and the Rajkot cluster is famous for diesel engine castings. Some of the notable companies producing metal castings include Electrosteel Castings Ltd., Hinduja Foundries Ltd., Nelcast Ltd., and Tata Metaliks Ltd., among others.
End-user segment growth insights:
Automotive: The foundry market is linked directly with the development of the overall automotive sector. Growth of the automobile industry is expected to generate huge demand for castings producers. Based on volume, India is currently the fourth largest automobile industry, globally. Rapid growth of the automotive sector has also led to the steady development of other subsidiary industries like the auto component industry, indicating huge demand for castings.
Pipes and fittings: The pipe sector in India is poised for steady growth due to substantial investments and capacity additions. Companies produce a wide range of steel, cement and PVC pipes, which are used in various industries. Demand for castings is expected to expand with the growth of the pipes and fittings market in India.
Power: Consistent power supply and availability of quality electrical equipment are necessary for the growth of the Indian economy from a global perspective. As of December 2018, India had a power generating capacity of ~349.28 GW. The Government of India has targeted an addition of ~88.5 GW under the 12th Five-Year Plan (2012–2017), and another ~100 GW under the 13th Five-Year Plan (2017–2022). The foundry industry is expected to benefit from such power generation installations.

Government initiatives:
A Vision Plan 2020 has been initiated by The Institute of Indian Foundrymen (IIF) to recommend the needed initiatives for rapid growth, and emerge as a leading supplier of quality castings in the global market by 2020. An implementing agency for the India Foundry Mission (IFM) will have full authority to represent it, demonstrate the pilots and implement recommendations, and monitor market growth.

Key growth drivers of the market:
• Foundries across India are presently upgrading facilities and technologies in a bid to improve their productivity and increase their capacity. To cater to the growing demand, this industry is embarking on major expansions and technological initiatives, with investments of over INR 10 Bn, since 2011.
• Majority of the foundry units in India fall under the MSME sector, which has registered consistent growth over the years. There are around 51 Mn MSME units spread across the country. About 55.3% of the MSMEs are based out of rural areas, indicating the deployment of a significant rural workforce in the MSME sector.
Re-implementation of Public Procurement Policy, Pradhan Mantri MUDRA Yojana, Make in India, Startup India, and Skill India initiatives are helping in the growth of the MSME sector in the country.

Key deterrents to the growth of the market
Since most of the castings manufacturing units fall under small and medium enterprises (SMEs), they cannot use advanced technological equipment or automation due to high costs, thus limiting their marketing strength. It is challenging for them to sustain their position in the global marketplace. The inability to meet the domestic demand for castings and to supply quality products to the global market acts as a huge barrier for the industry to grow further.

Companies covered:
1. Ashok Iron Works Pvt. Ltd.
2. Brakes India Pvt. Ltd.
3. DCM Engineering Ltd.
4. Electrosteel Castings Ltd.
5. Hinduja Foundries Ltd.
6. Jayaswal Neco Industries Ltd.
7. Menon and Menon Ltd.
8. Nelcast Ltd.
9. Sanmar Foundries Ltd.
10. Tata Metaliks Ltd.

Related reports:

https://www.cri-report.com/product/foundry-market-in-india-2017/

The post Foundry Market in India (2018-2023) first appeared on CRI Report.

Insights on segments based on equipment category:
Based on the category of equipment, the market is segmented into earth moving equipment, concrete equipment, material handling equipment, road construction equipment, and material processing equipment. Clearance of mining and construction (road building and real estate) projects in recent years have led the earth moving segment to occupy a major share of the construction equipment market, followed by concrete equipment, and material handling equipment.

Insights on segments based on equipment type:
Backhoe loaders, crawler excavators, mobile compressors, mobile cranes, compaction equipment, wheeled loaders, and crawler dozers are the most common construction equipment used in India. Among these, backhoe loaders had the highest market share in 2018, mainly due to its versatile applications.
Market trends:
The Ministry of Road Transport and Highways has implemented its ‘Value Engineering Program’, which directs constructors to use innovative technologies, materials, and equipment that can reduce the overall project cost and adverse effect on the environment.
Market drivers:
The Indian government has recently invested in the infrastructure sector. Substantial investment in the development of infrastructure in India is supposed to increase the demand for different kinds of construction equipment.
The real estate market in India is expected to expand at a CAGR of ~11.54%, to reach a value of
~INR 12,0104.2 Bn by 2020, from ~INR 7004.34 Bn in 2015. The demand for construction equipment is increasing considerably in India due to the growth of the real estate market.

Market challenges:
Stringent regulations, along with increasing environmental concerns delay approvals for real estate projects in India. This, in turn, increases the overall budget of projects while slowing down the processes. Heavy equipment is rented and lie unused for months. As a result, in India, the revenue of the construction equipment market is limited. The secondary market for used construction equipment is yet to develop. This prevents the resale of equipment, which in turn reduces the overall revenue of the secondary construction equipment market.

Companies covered:

1. Action Construction Equipment Ltd.
2. Bharat Earth Movers Ltd.
3. Escorts Ltd.
4. Gujarat Apollo Industries Ltd.
5. Hercules Hoists Ltd.
6. JCB India Pvt. Ltd.
7. L&T Construction & Mining Machinery
8. Triton Valves Ltd.
9. Universal Construction Machinery and Equipment
10. Volvo Construction Equipment India

Customization available

The post Construction Equipment Market in India (2018–2023) first appeared on CRI Report.

Segment-wise market insights:

In India, mainly four types of mobile accessories are used – protective cases, wireless headphones and earphones, turbochargers, and memory cards.

Protective cases: Protective cases have a relatively high share among the different segments of mobile accessories available in India. In order to fulfil the demand from the growing fashion-conscious consumer base, focus of the Indian companies remain on manufacturing protective cases that are in line with the consumers’ preferences.

Wireless headphones and earphones: Recent technological innovations by companies have triggered the sale of wireless headphones and earphones in India. Sony Corp, Skull Candy Inc., and JBL Inc. are some of the leading manufacturers of audio accessories for mobile phones in India. The wireless headphones and earphones segment was valued at INR ~11.47 Bn in 2016, and is expected to expand at a compound annual growth rate (CAGR) of ~12.1% during the forecasted period.

Memory cards: Increasing use of smartphones and multimedia functions among Indian consumers is creating the demand for external storage devices such as memory cards. In 2017, Samsung, SanDisk, Transcend, Kingston, and Sony were the top five memory card companies operating in India.

Key market trends:
Indian consumers are increasingly using power banks to charge their portable devices, on the go. These devices address the same objective as that of turbochargers and high capacity batteries. Various kinds of device stands and holders are slowly gaining popularity among the youth, who invest heavily on large-display smartphones.

Market drivers:
By 2020, smartphone shipment in India is expected to reach ~210.53 Mn units, expanding at a CAGR of ~17.5% from 2016. The growing adoption of mobile phones is creating opportunities for manufacturers of mobile accessories to enter the market. The rise in disposable income has revolutionized the buying and spending patterns of customers. Change in the outlook of consumers is leading to high demand for fashionable mobile accessories.
Market challenge:
Currently, the mobile accessories market in India is driven by low-cost imports. These products are mainly sold in local stores, thus feeding the demand for cheaper mobile accessories. Hence, unbranded grey market offerings are hampering the market for branded products.

Companies covered:
1. Eon Electric Ltd.
2. Optiemus Infracom Ltd.
3. Callmate (India) Pvt. Ltd.
4. Intex Technologies (India) Ltd.
5. Apple India Pvt. Ltd.
6. Belkin India Pvt. Ltd.
7. Case Mate India Pvt. Ltd.
8. Moftware Infotech Pvt. Ltd.
9. PNY Technologies Asia Pacific Ltd.
10. Samsung India Electronics Pvt. Ltd.

The post Mobile Accessories Market in India (2018–2023) first appeared on CRI Report.

Stock keeping unit (SKU)-wise segment insights:
In India, bottled water is sold in four main types of SKUs – one-liter bottles, two-liter bottles, 500 milliliter bottles, 250 milliliter bottles, pouches, and barrels of 15-20 liters. Among the different SKUs, one-liter bottles have acquired the largest market share of ~42% in 2018, followed by 500 milliliter bottles and 250 milliliter bottles.

Market trends:
• Flavored bottled drinking water has become popular in India. Different kinds of flavored water containing fruit essence and artificial sweeteners like soda, cola, juice, and other sweetened beverages often act as a substitute to plain bottled water. At times consumers prefer flavored bottled water to normal bottled water. This shift is developing an opportunity to expand the product line of bottled water manufacturers in India.

• Apart from individual sales, market players in India have recently inclined towards institutional sales through partnership with airlines, movie theatres, and hotels. Such partnerships are eventually increasing the penetration of the product in the market, followed by rise in the overall sales volume in India.

Market drivers:
• India accounts for ~18% of the global population. In addition, the per-capita income of Indians witnessed a growth of ~8.6% in 2017. Moreover, increased awareness among the growing population about the importance of safe drinking water for maintaining good health, along with a sharp rise in per capita income is creating a demand for bottled water in India.
• Tourists prefer bottled water to normal tap water. The rate of foreign tourists in India is expected to increase at a rate of ~6.7% during 2015-2025. This, in turn, is anticipated to boost the sale of bottled water in India.

Market challenges:
• In recent years, a number of companies selling fake branded bottled water have cropped up in the market. These players do not maintain quality and hygiene standards, which in turn leads to health issues among consumers. As a result, consumers lose faith in bottled water, thus affecting the overall sales.
• Nearly 67% of the population resides in rural areas. However, the rate of penetration of bottled water is significantly low in these regions. This, as a result, hinders the growth of the market in India.

Companies covered:
• Bislery International Pvt. Ltd.
• Coca-Cola India Pvt. Ltd.
• Dhariwal Industries Pvt. Ltd.
• Indian Railway Catering and Tourism Corporation
• Narang Group
• Nestle Group
• Parle Agro Pvt. Ltd.
• PepsiCo, Inc.
• Tata Global Beverages Ltd.
• United Breweries Ltd.

Customization available

The post Bottled Water Market in India (2018-2023) first appeared on CRI Report.

Market drivers:

A growing millennial population, and increasing customers who are working-class are driving the consumption of packaged food products, such as instant noodles, in India. Also, the companies have recently introduced several products, which are distinctive in terms of new flavors, healthy ingredients, and packaging. Depending on these factors, consumption of instant noodles has been increasing at a considerable rate in India, during the past few years.
Market challenges:
A large part of the population comes from the middle or lower-middle class. Therefore, price sensitivity plays a significant role in hindering the growth of the instant noodles industry across the country. Most people in rural areas are unaware of the various brands that are available unless they see them at their local store. Hence, lack of a well-established distribution network acts as a challenge for the instant noodles market in India.
Companies covered:
1. Capital Foods Pvt. Ltd.
2. CG Foods India Pvt. Ltd.
3. GSK Consumer Healthcare (India) Ltd.
4. Hindustan Unilever Ltd.
5. Inbisco India Pvt. Ltd.
6. Indo Nissin Foods Pvt. Ltd.
7. ITC Ltd.
8. Nestle India Ltd.
9. Patanjali Ayurved
10. Thai Preserved Food Factory Co.Ltd

Customization available:

The post Instant Noodles Market in India (2018–2023) first appeared on CRI Report.

Segment-wise market insights:
In India, tobacco is harvested mainly in two forms—cigarette tobacco and non-cigarette tobacco. During 2017-2018, non-cigarette tobacco alone had a ~69% market share. Manufacture of cigarette tobacco has significantly reduced, globally, leading to an increase in the sale of non-cigarette tobacco.
Based on consumption, khaini constituted ~11%, and beedi and cigarette had a market share of ~8%. Usage of smoking mediums like hookah, hookli, chhutta, dhumti and chillum, along with edible tobacco like mawa, snuff, gutka, and pan masala have led to the growth of this market.
Considering the consumption-tax revenue ratio of the overall segment of smoked tobacco, legal cigarettes account for ~10% of consumption and ~86% of tax revenues. This implies that even though smokeless tobacco has the highest rate of consumption, more revenue is earned from legal cigarettes. Tobacco, despite it triggering addiction and intoxication, is consumed significantly by Indians, especially in the form of smokeless tobacco.
Among the major cigarette producers in India, ITC Ltd. currently enjoys the highest market share (~84.27%), based on sale. Rest of the share is distributed among minor companies like Kothari Products Ltd., Godfrey Phillips India Ltd., VST Industries Ltd., and others.

Market drivers:

• Over the years, tobacco has become an essential part of the Indian socio-cultural environment, especially in the eastern, northern, and north-eastern parts of the country. A relatively higher income growth compensates for the increasing price of cigarettes, leading to greater consumption. Moreover, societal influences such as peer pressure also aids in driving the demand for tobacco products. These are the crucial factors propelling market growth.
• With the assistance of the Tobacco Board, Indian tobacco producers are using technologically advanced threshing plants and re-drying factories. These facilities are used for increasing the yield of Flue-Cured Virginia (FCV) tobacco, which can then be exported to different countries, across the world. Hence, improved infrastructure drives growth for this market.

Market challenges:
• Cigarette taxes (64% excise duty, 28% GST, and 5% cess) in India are among the highest in the world. Therefore, high tax rates make cigarettes unaffordable to a large section of consumers. As a result, they shift towards the consumption of beedi and other forms of smokeless tobacco. Hence, the overall tobacco market experiences slow growth.
• The Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act of 2003 (COTPA, 2003) imposes a blanket ban on tobacco advertising. This prevents companies from directly advertising their products, because of which they resort to surrogate advertising. Hence, it becomes difficult for manufacturers to promote their brands, limiting the growth of the domestic market.
Companies covered:
1. Ashok and Company Pan Bahar Ltd.
2. Godfrey Phillips India Ltd.
3. Golden Tobacco Company Ltd.
4. ITC Ltd.
5. Kothari Products Ltd.
6. M.R. Tobacco Pvt. Ltd.
7. National Tobacco Company of India Ltd.
8. Pataka Industries Pvt. Ltd.
9. Sinnar Bidi Udyog Ltd.
10. VST Industries Ltd.

The post Tobacco Market in India (2018-2023) first appeared on CRI Report.