India Furniture Market – Global Industry Size, Share, Trends

According to TechSci Research report, India Furniture Market – By Region, Competition, Forecast and Opportunities, 2019-2029F, the India furniture market is witnessing high demand due to the changing consumer preference as consumers extensively spending on home decor and are investing in new and unique furniture for their homes. Thus, it is further resulting in high demand for the furniture. Moreover, many of the brands have launched online portals so that consumers can view and compare with different products. Thus, it gives consumers different options and aids in market growth for companies.

The product, which is eco-friendly, customer-friendly, user-friendly and multi-functional furniture, has a bright future. As new consumer segments emerge, the ability to target these niche segments in a sustainable and profitable manner becomes increasingly important.

Over the next five years, consumers will continue to move significantly from unorganized to organized spaces. Even as more consumers move from cluttered to uncluttered spaces, some of the core needs in this category will remain same, such as well-designed and durable furniture. At the same time, brands that bring the right mix of quality and aesthetics to their product range, improve customer experience through the use of technology, and continue to drive innovation in systems and processes will continue to thrive.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on “India Furniture Market” –

India’s ease of doing business related policies are leading to new businesses across India. In addition, the growing number of small and medium-sized enterprises has further increased the demand for cost-effective furniture products. This factor is anticipated to drive the growth of the Indian furniture market during the forecast period.

The demand for furniture has become significantly more important in the hospitality industry. This is due to increased investment in infrastructure development and the medical tourism industry. Private investment in developing business centers such as accommodation facilities, cafes, sports facilities, and department stores is increasing. This is projected to boost the demand for various types of furniture including sofas, chairs, beds, etc. within the forecast period, driving the growth of the overall market.

Key market players in the India furniture market include:

  • Godrej and Boyce Manufacturing Company Limited
  • Nilkamal Limited
  • Featherlite Office Systems Pvt. Ltd.
  • IKEA India Private Limited
  • Durian Industries Limited
  • Forte Furniture Products India Private Limited
  • Haworth India Pvt Ltd
  • Usha Shriram Enterprises Pvt. Ltd.
  • Damro Furniture Private Limited
  • Dynasty Modular Furniture Pvt. Ltd.

The India furniture market is segmented based on supply, organized vs unorganized market, type, product type, point of sale, raw material type, region, leading city, and competitional landscape. Based on supply, the market is segmented into domestic and imported. Based on type, the market is segmented into home furniture, office furniture, and institutional furniture. Also, segmentation of the market based on product type is bed, soda, wardrobe, dining set, and others. Based on point of sale, the market is segmented into offline and online. Based on raw material, the market is divided into wood, metal, and plastic. Also, the market is segmented based on leading cities. The market studies the regional segmentation divided among north, south, west, and east.

The home furniture segment is expected to grow at a significant growth rate owing to the changing preferences among consumers as they are increasingly investing in home decor, which is further resulting in high demand for new and unique furniture. As per the point of sale, the online segment is gaining momentum and covering significant share in the furniture market due to the penetration of smart phones and internet in the country.

Moreover, with online shopping is chosen among the consumers for variety of options and recently launched online portals are providing consumers with numerous offers and schemes such as easy EMI options.

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“Due to the rising number of residential and commercial buildings in the country, rising tourism sector owing to which many of the hotels are investing in comfortable and unique furniture, are driving the market growth of furniture market in India. Furthermore, many brands in the furniture market have shifted to online portals such as mobile applications, websites, etc. which helps the consumers to get different furniture options and compare between various furniture options. Additionally, the consumers are buying furniture for their home to improve aesthetic and decor of the house which aids the market growth of furniture market in India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

India Furniture Market Share By Supply (Domestic, Imported), By Organized Vs. Unorganized Market, By Type (Home Furniture, Office Furniture, Institutional Furniture), By Product Type (Bed, Sofa, Wardrobe, Dining Set, Others), By Point of Sale (Offline, Online), By Raw Material (Wood, Metal, Plastic), By Leading City, By Region, Competition, Forecast and Opportunities, 2029Fhas evaluated the future growth potential of India furniture market and provides statistics & information on market size, structure, and future market growth. the report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the furniture market in India.

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