DUBLIN–(BUSINESS WIRE)–The “India Furniture Market, Impact of COVID-19, Industry Size, Growth Trends, Opportunity Company Analysis, Financial Insight” report has been added to ResearchAndMarkets.com’s offering.
India Furniture Market was US$ 17.77 Billion in 2020 and will rise to USD 37.72 Billion by the end of the year 2026, growing at a double-digit CAGR of 13.37% during 2020-2026.
India is a place for unique and excellent creative work of furniture. The Indian furniture industry is popular in the nation and internationally because of its rich handicraft and attractive traditional art and design. The Indian Furniture market has evolved over time. It has broadened its market from chair and table to designed interiors like wardrobe or sofas. Furniture has been an essential part of an Indian household for centuries. The major part of the Indian furniture industry accounts in the unorganized sector.
In India, a wide variety of raw materials are used in the production of furniture like Wood, Plastic, Cane, Bamboo, Metal, and Others. Around the world, wood furniture contributes largest segments because of its numerous varieties of indigenous wood and imported wood. Nowadays, Bamboo woods are also becoming popular in place of plywood. Indian wood is known for its traditional and esthetic work. States like Kerala, Gujarat, Uttar Pradesh, Kashmir, and Punjab are commercial centers for their wonderful decorating, turning, and great finishing of their work.
These days’ customers also have the convenience to order furniture both online and offline – increase in digitization and flexibility of home delivery with customization option surging the online India furniture market. The companies like Pepper fry, Urban ladder and others are generating significant revenue through online platforms. At the same time, surging trends of online shopping are pushing the traditional furniture manufacturers, say Godrej, Nilkamal to introduce and sell their products through online medium.
India furniture market includes production of a wide range of furniture related to office, bedroom, kitchen, garden, school furniture and hospitals. Factors driving the Indian furniture market are growing disposable income with an increase in the economy, Expansion of the real estate and housing sector, Rising growth in the information technology and services sectors.
Besides, other contributing factors are the remarkable growth of the mass media resulting in millions of middle-class Indians aiming for improved lifestyles, increasing desire for stylish homes in compact apartments.
COVID-19 Pandemic Impact on India Furniture Industry
The furniture market has witnessed tremendous growth in online order due to pandemic and lockdown. The COVID-19 pandemic has happened during the initial days of 2020 has changed the furniture industry on a huge scale. The supply chain disruption and the temporary ban on global trade have highly affected the countries with high dependencies on imports for their furniture needs.
The COVID-19 pandemic has also conceptualized the importance of dropping the dependence on imports and improving digitalization and automation in this industry.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Drivers
5. India Furniture Market & Forecast
6. Market Share – India Furniture Analysis
6.1 By Industry Type
6.2 By Ordering Method
6.3 By Material Type
6.4 By End Users
6.5 By Products
7. Industry Type – India Furniture Market
8. Ordering Method – India Furniture Market
9. Material Type – India Furniture Market
9.3 Cane & Bamboo
10. End Users – India Furniture Market
11. Products – India Furniture Market
12. Company Analysis
12.1.2 Recent Devlopments
12.1.3 Revenue Analysis
12.2 Parin Furniture
12.3 Century Plyboards India
12.4 Godrej Industries
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