India Furniture Market, By Material (Wood, Metal, Plastic, Others), By Application (Home Furniture, Office Furniture, Hospitality Furniture, Others), By Distribution Channel (Supermarkets And Hypermarkets, Specialty Stores, Online, Others), By Region (Nor
Description
India Furniture Market, By Material (Wood, Metal, Plastic, Others), By Application (Home Furniture, Office Furniture, Hospitality Furniture, Others), By Distribution Channel (Supermarkets And Hypermarkets, Specialty Stores, Online, Others), By Region (North India, South India, East India, West India)Trend Analysis, Competitive Market Share & Forecast, 2018-2028
India Furniture Market to Reach USD 35.9 Billion by 2028
India Furniture market is growing on account of the increasing disposable income of the consumers and rising expenditure towards home decor along with flourishing tourism and increasing investment in the hospitality sector such as the development of airports, hotels, restaurants, etc…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India Furniture market was worth USD 23.3 billion in the year 2021. The market is projected to grow at a CAGR of 6.40%, with revenues reaching USD 35.9 billion by the end of 2028. The market is in all likelihood to witness this growth over the forecast period due to the growing disposable income of the consumer and increasing expenditure toward home decor. Furthermore, increasing construction of numerous residential, industrial, and commercial facilities due to infrastructural development is anticipated to enhance the market growth inside the forecast period. However, the high penetration of the unorganized sector may act as a huge restraining factor for the India furniture market growth.
Increasing Demand from Hospitality Sector is Driving India Furniture Market Growth
The demand for furniture is gaining good-sized traction from the hospitality sector. This is thanks to the growing investment in infrastructural development along with flourishing tourism. The variety of personal investments toward the development of business centers together with accommodations, cafes, sports activities facilities, buying department stores, and so forth., is also growing. This is predicted to fuel the demand for various sorts of furniture including sofas, chairs, beds, and so on., within the forecast period, driving the overall market growth.
Integration Of IoT into Furniture is Propelling India Furniture Market Growth
The furniture producers are integrating advanced technologies such as IoT into their merchandise to gain benefit over the marketplace. The producers are exploiting the services of IoT within the manner to upload and edit designs, track performance and renovation, and so on. They also are fitting sensors into fundamental furnishings which include dining room chairs, shelving gadgets, and many others., to make them ‘intelligent’ and similarly flourish smart homes. This is expected to emerge as a prime driving aspect for the India furniture market in the forecast period.
India Furniture Market - By Distribution Channel
Based on the distribution channel, the India furniture market is segmented into supermarkets and hypermarkets, specialty stores, online, and others. The specialty store segment accounts for the biggest marketplace proportion as a result of the availability of a huge range of furniture under one roof. However, the online store's segment is projected to register the highest CAGR during the forecast duration as numerous furniture companies are launching websites or selling their products through popular customer items platforms inclusive of Pepperfry, Amazon.in, Flipkart, and so on., to target more youthful and working purchasers.
India Furniture Market - Regional Insights
Geographically, the India furniture market is segmented into North India, South India, East India, and West India. West India dominates the market. The demand for furniture is directly influenced by property sales. The number of property sales is surging in Western states such as Maharashtra, particularly in Mumbai and Pune due to the increasing working-class population in this region. However, North India also covers a substantial market share owing to the high purchasing power of consumers in this region.
Impact of COVID-19 on India Furniture Market
The India furniture market was incredibly halted because of the COVID-19 pandemic outbreak in the country. The huge burden on the healthcare zone and national lockdown led to production and supply disruptions. Furthermore, workplaces and other business centers together with hotels, restaurants, and so on., have been additionally closed because of lockdown. All those factors led to a sharp decline in the demand for furniture in India. The market is expected to check in slow growth in the approaching years as well due to the negative effect of the pandemic on the economic stability of the customers.
Competitive Landscape
The leading market players of the India furniture market are Godrej Interio, Nilkamal Furniture, Zuari Furniture, Wipro Furniture, Durian, Hulsta, Usha Lexus Furniture, Ikea, Damro, Evok, and other prominent players.
The India furniture market is highly fragmented with the presence of several global and regional industry participants. The unorganized sector is highly dominant in this region. The companies launch new designs to attract customers and offer to customize designs to suit their needs. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the India Furniture market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India Furniture market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India Furniture market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
India Furniture Market to Reach USD 35.9 Billion by 2028
India Furniture market is growing on account of the increasing disposable income of the consumers and rising expenditure towards home decor along with flourishing tourism and increasing investment in the hospitality sector such as the development of airports, hotels, restaurants, etc…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India Furniture market was worth USD 23.3 billion in the year 2021. The market is projected to grow at a CAGR of 6.40%, with revenues reaching USD 35.9 billion by the end of 2028. The market is in all likelihood to witness this growth over the forecast period due to the growing disposable income of the consumer and increasing expenditure toward home decor. Furthermore, increasing construction of numerous residential, industrial, and commercial facilities due to infrastructural development is anticipated to enhance the market growth inside the forecast period. However, the high penetration of the unorganized sector may act as a huge restraining factor for the India furniture market growth.
Increasing Demand from Hospitality Sector is Driving India Furniture Market Growth
The demand for furniture is gaining good-sized traction from the hospitality sector. This is thanks to the growing investment in infrastructural development along with flourishing tourism. The variety of personal investments toward the development of business centers together with accommodations, cafes, sports activities facilities, buying department stores, and so forth., is also growing. This is predicted to fuel the demand for various sorts of furniture including sofas, chairs, beds, and so on., within the forecast period, driving the overall market growth.
Integration Of IoT into Furniture is Propelling India Furniture Market Growth
The furniture producers are integrating advanced technologies such as IoT into their merchandise to gain benefit over the marketplace. The producers are exploiting the services of IoT within the manner to upload and edit designs, track performance and renovation, and so on. They also are fitting sensors into fundamental furnishings which include dining room chairs, shelving gadgets, and many others., to make them ‘intelligent’ and similarly flourish smart homes. This is expected to emerge as a prime driving aspect for the India furniture market in the forecast period.
India Furniture Market - By Distribution Channel
Based on the distribution channel, the India furniture market is segmented into supermarkets and hypermarkets, specialty stores, online, and others. The specialty store segment accounts for the biggest marketplace proportion as a result of the availability of a huge range of furniture under one roof. However, the online store's segment is projected to register the highest CAGR during the forecast duration as numerous furniture companies are launching websites or selling their products through popular customer items platforms inclusive of Pepperfry, Amazon.in, Flipkart, and so on., to target more youthful and working purchasers.
India Furniture Market - Regional Insights
Geographically, the India furniture market is segmented into North India, South India, East India, and West India. West India dominates the market. The demand for furniture is directly influenced by property sales. The number of property sales is surging in Western states such as Maharashtra, particularly in Mumbai and Pune due to the increasing working-class population in this region. However, North India also covers a substantial market share owing to the high purchasing power of consumers in this region.
Impact of COVID-19 on India Furniture Market
The India furniture market was incredibly halted because of the COVID-19 pandemic outbreak in the country. The huge burden on the healthcare zone and national lockdown led to production and supply disruptions. Furthermore, workplaces and other business centers together with hotels, restaurants, and so on., have been additionally closed because of lockdown. All those factors led to a sharp decline in the demand for furniture in India. The market is expected to check in slow growth in the approaching years as well due to the negative effect of the pandemic on the economic stability of the customers.
Competitive Landscape
The leading market players of the India furniture market are Godrej Interio, Nilkamal Furniture, Zuari Furniture, Wipro Furniture, Durian, Hulsta, Usha Lexus Furniture, Ikea, Damro, Evok, and other prominent players.
The India furniture market is highly fragmented with the presence of several global and regional industry participants. The unorganized sector is highly dominant in this region. The companies launch new designs to attract customers and offer to customize designs to suit their needs. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the India Furniture market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India Furniture market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India Furniture market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Table of Contents
119 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
- 3. Executive Summary
- 4. India Furniture Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Advancement/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
- 5. India Furniture Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Material
- 5.2.1.1. Wood
- 5.2.1.2. Metal
- 5.2.1.3. Plastics
- 5.2.1.4. Others
- 5.2.2. By Type
- 5.2.2.1. Home Furniture
- 5.2.2.2. Office Furniture
- 5.2.2.3. Hospitality Furniture
- 5.2.2.4. Others Furniture
- 5.2.3. By Distribution Channel
- 5.2.3.1. Supermarket
- 5.2.3.2. Specialty Store
- 5.2.3.3. Online
- 5.2.3.4. Others
- 5.2.4. By Region
- 5.2.4.1. North India
- 5.2.4.2. South India
- 5.2.4.3. East India
- 5.2.4.4. West India
- 6. North India Furniture Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Material
- 6.2.2. By Type
- 6.2.3. By Distribution Channel
- 7. South India Furniture Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Material
- 7.2.2. By Type
- 7.2.3. By Distribution Channel
- 8. East India Furniture Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Material
- 8.2.2. By Type
- 8.2.3. By Distribution Channel
- 9. West India Furniture Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Material
- 9.2.2. By Type
- 9.2.3. By Distribution Channel
- 10. Competitive Landscape
- 10.1. List of Key Players and Their Offerings
- 10.2. Market Share Analysis, 2021
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 11. Impact of COVID-19 on India Furniture Market Industry
- 12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 12.1. Godrej and Boyce Manufacturing Company Limited
- 12.2. Nilkamal Limited
- 12.3. Featherlite Office Systems Pvt. Ltd.
- 12.4. IKEA India Private Limited
- 12.5. Durian Industries Limited
- 12.6. Forte Furniture Products India Private Limited
- 12.7. Haworth India Pvt Ltd
- 12.8. Usha Shriram Enterprises Pvt. Ltd.
- 12.9. Damro Furniture Private Limited
- 12.10. Dynasty Modular Furniture Pvt. Ltd
- 12.11. Lifestyle International Private Limited
- 12.12. Zuari Furniture
- 12.13. Durian
- 12.14. EVOK
- 12.15. Hulsta
- 12.16. Wipro Furniture
- 12.17. Other Prominent Players.
- 13. Key Strategic Recommendations
- List of Figures
- Figure 1 India Furniture Segmentation
- Figure 2 India Furniture Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2021
- Figure 4 India Furniture Market Size, By Value (USD Million), 2018-2028
- Figure 5 India Furniture Market Share, By Material, By Value, 2018-2028
- Figure 6 India Furniture Market Share, By Type, By Value, 2018-2028
- Figure 7 India Furniture Market Share, By Distribution Channel, By Value, 2018-2028
- Figure 8 India Furniture Market Share, By Region, By Value, 2018-2028
- Figure 9 North India Furniture Market Size, By Material, By Value, 2018-2028
- Figure 10 North India Furniture Market Size, By Type, By Value, 2018-2028
- Figure 11 North India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Figure 12 North India Furniture Market Size, By Country, By Value, 2018-2028
- Figure 13 South India Furniture Market Size, By Material, By Value, 2018-2028
- Figure 14 South India Furniture Market Size, By Type By Value, 2018-2028
- Figure 15 South India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Figure 16 South India Furniture Market Size, By Country, By Value, 2018-2028
- Figure 17 East India Furniture Market Size, By Material, By Value, 2018-2028
- Figure 19 East India Furniture Market Size, By Type , By Value, 2018-2028
- Figure 20 East India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Figure 21 East India Furniture Market Size, By Country, By Value, 2018-2028
- Figure 22 West India Furniture Market Size, By Material, By Value, 2018-2028
- Figure 24 West India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Figure 25 West India Furniture Market Size, By Type, By Value, 2018-2028
- Figure 26 West India Furniture Market Size, By Country, By Value, 2018-2028
- List of Tables
- Table 1 India Furniture Market Size, By Material, By Value, 2018-2028
- Table 2 India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Table 3 India Furniture Market Size, By Type By Value, 2018-2028
- Table 4 India Furniture Market Size, By Region, By Value, 2018-2028
- Table 5 North India Furniture Market Size, By Material, By Value, 2018-2028
- Table 6 North India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Table 7 North India Furniture Market Size, By Type, By Value, 2018-2028
- Table 8 North India Furniture Market Size, By Country, By Value, 2018-2028
- Table 9 South India Furniture Market Size, By Material, By Value, 2018-2028
- Table 10 South India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Table 11 South India Furniture Market Size, By Type, By Value, 2018-2028
- Table 12 South India Furniture Market Size, By Country, By Value, 2018-2028
- Table 13 East India Furniture Market Size, By Material, By Value, 2018-2028
- Table 14 East India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Table 15 East India Furniture Market Size, By Type, By Value, 2018-2028
- Table 16 East India Furniture Market Size, By Country, By Value, 2018-2028
- Table 17 West India Furniture Market Size, By Material, By Value, 2018-2028
- Table 18 West India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
- Table 19 West India Furniture Market Size, By Type, By Value, 2018-2028
- Table 20 West India Furniture Market Size, By Country, By Value, 2018-2028
- Table 21 Godrej and Boyce Manufacturing Company Limited Company Overview
- Table 22 Godrej and Boyce Manufacturing Company Limited Financial Overview
- Table 23 Nilkamal Limited Company Overview
- Table 24 Nilkamal Limited Financial Overview
- Table 25 IKEA India Private Limited Company Overview
- Table 26 IKEA India Private Limited Financial Overview
- Table 27 Durian Industries Limited Company Overview
- Table 28 Durian Industries Limited Financial Overview
- Table 29 Haworth India Pvt Ltd Company Overview
- Table 30 Haworth India Pvt Ltd Financial Overview
- Table 31 Damro Furniture Private Limited Company Overview
- Table 32 Damro Furniture Private Limited Financial Overview
- Table 33 Dynasty Modular Furniture Pvt. Ltd Company Overview
- Table 34 Dynasty Modular Furniture Pvt. Ltd Financial Overview
- Table 35 Lifestyle International Private Limited Company Overview
- Table 36 Lifestyle International Private Limited Financial Overview
- Table 37 Zuari Furniture Company Overview
- Table 38 Zuari Furniture Financial Overview
- Table 39 Durian Company Overview
- Table 40 Durian Financial Overview
- Table 41 EVOK Company Overview
- Table 42 EVOK Financial Overview
- Table 43 Hulsta Company Overview
- Table 44 Hulsta Financial Overview
- Table 45 Wipro Furniture Company Overview
- Table 46 Wipro Furniture Financial Overview
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