Industry Overview:
Large Opportunity with Structural Growth Drivers
India’s health and hygiene solutions market presents a compelling long-term growth opportunity, driven by rising consumer awareness, increasing disposable incomes, rapid urbanisation, and a growing preference for convenience-led living. As households increasingly prioritise health, hygiene, and quality of life, demand for products that ensure safe drinking water, cleaner homes, and healthier indoor environments continues to expand.
Eureka Forbes operates across categories that collectively represent a market opportunity of over ₹ 26,300 Crore by FY30, with strong growth expected across multiple categories, namely, water purifiers, robotic vacuum cleaners, water softeners, and air purifiers. Despite their relevance to everyday living, most of these categories remain significantly underpenetrated, creating a long runway for growth.
₹ 26,300 Crore
Target Addressable Market: FY30
15%
FY23-30 CAGR
Large and Growing Market Opportunity
| Category | FY23 (₹ Crore) | FY30E (₹ Crore) | CAGR | Penetration |
|---|---|---|---|---|
| Water Purifier – Product | 4,350 | 10,200 | 13% | 7% |
| Water Purifier – Service | 3,660 | 9,000 | 14% | <25% |
| Water Softeners | 1,000 | 3,000 | 17% | <1% |
| Vacuum Cleaners | 509 | 3,000 | 29% | 2% |
| Air Purifiers | 230 | 1,100 | 25% | 1% |
| Total | 9,749 | 26,300 | 15% |
Source: Consumer Market Purification Devices in India –A Whitepaper by Technopak (reproduced with permission) & Management Estimates
Structural Drivers Supporting Growth
Growing incomes:
The middle class is the fastest-growing segment of the population and is expected to reach 1 billion by 2047.
Electrification:
99.5% of the population has access to electricity in 2023.
Urbanisation:
By 2036, 40% of Indians will live in towns and cities, up from 31% in 2011.
Unpredictable Domestic Help:
Need for convenient backup.
Working Women:
Female labour force participation rate increased from 33% in 2022 to 42% in 2024.
Growing Health Awareness:
Increasing importance given to health & hygiene; increased frequency of cleaning homes post-COVID.
Piped Water:
Went up from 16.8% in 2019 to 77.2% households in 2024.
Eureka Forbes is well-positioned to capitalise on these structural growth trends, led by its brand strength, diversified product portfolio, omnichannel distribution network, extensive service infrastructure, and growing digital capabilities. The Company’s presence across multiple high-growth, underpenetrated categories provides a strong platform to drive category expansion, deepen customer engagement, and create sustainable long-term value.