New Delhi: Technical consumer goods (TCG) market in India recorded an 11 per cent increase in value and a 1 per cent rise in volume during the first half of 2024, compared to the same period last year, a report showed on Monday.

Small domestic appliances (SDA) led with a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, said market research firm GfK.

India has emerged as the fastest-growing large market in the technical consumer goods industry.

“Valued at around Rs 2 lakh crore ($23 billion), the market saw over 125 million units sold in the first half of 2024. This represents a notable 11 per cent increase in value in the offline channel during H1 2024,” said Anant Jain, Head of Customer Success–India, GfK, an NIQ company.

The consumption growth underscores the diverse and dynamic nature of the Indian TCG industry, driven by evolving consumer needs and preferences.

“This growth in 2024 surpasses the growth achieved in 2023 by 3 percentage points,” Jain added.