IMARC Group has recently released a new research study titled “India Furniture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the India furniture industry?
The India furniture market is expected to exhibit a CAGR of 12.00% during 2022-2027.
What is furniture?
Furniture comprise tables, chairs, cabinets, beds, desks, dressers, cupboards, etc., that are made from wood, plastics, metal, glass, fabrics, marble, or other materials. They are resilient, require little maintenance, provide elegance, charm, and sophistication to any room, etc. Furniture has a long shelf life and can be easily cleaned by wiping the surface. They are commonly available in a wide array of sizes, styles, colors, designs, etc., with enhanced aesthetics, comfort, functionality, and storage capacities for homes, offices, indoor and outdoor areas, etc. Consequently, furniture is gaining extensive traction across India.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the India furniture market?
The escalating demand for modern interiors, including wardrobes and sofas, as they are made with clean, straight lines, minimal ornamentation, etc., and the growing construction of houses are primarily augmenting the India furniture market. Furthermore, the unique and exceptional design of the country, on account of its rich handcraft and appealing traditional art and style, is acting as another significant growth-inducing factor. Apart from this, the inflating need for modular and state-of-the-art furniture among individuals living in urban areas is also bolstering the market growth. Moreover, the easy availability of furniture via online and offline distribution channels is further catalyzing the market growth across the country. Besides this, the increasing number of hotels and the expanding hospitality sector are also propelling the global market. Additionally, various key market players are extensively investing in R&D activities to introduce 3D view variants that is produced by using animation and other advanced technologies, which is expected to fuel the India furniture market in the coming years.
India Furniture Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on material, distribution channel and end use.
Breakup by Material:
Breakup by Distribution Channel:
Breakup by End Use:
Breakup by Region:
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Key highlights of the report:
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