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ICICI Securities Report
India non-stick cookware market, Rs 9.6 billion in size, is a high-growth category largely dominated by the unorganised sector (60% market share as of FY21).
We believe organised players such as TTK Prestige Ltd. will likely be net beneficiaries of share shift from unorganised segment, caused by high inflation in commodity costs, improved product offerings and expanded distribution in rural areas.
Tawa, frying pan and kadhai are the deepest penetrated categories with presence in most Indian kitchens.
We also believe as most multi national companies are not present in cookware segment, Indian companies will benefit the most.
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