Shrinking family sizes in India drive growth in consumer durables market, projected to reach Rs 3 trillion by 2029.

A report by Nuvama indicates that India's shrinking family sizes are leading to more households, which is driving demand for consumer durable products like home appliances. Despite lower penetration compared to developed countries, the consumer durables sector is projected to grow 11% annually, reaching Rs 3 trillion by FY29. Factors such as increasing household numbers, rising affluence, and shorter replacement cycles are boosting this growth, particularly in tier-1 and tier-2 cities.

November 29, 2024
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