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India is expected to become a USD 5 Trillion economy by 2025

05-20-2019 01:42 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Renub Research

india-furniture-market

india-furniture-market

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India is expected to become a USD 5 Trillion economy by 2025, with an annual growth rate of more than 7%, thus making the furniture market in India a billion-dollar opportunity. India furniture market is multiplying, and it is expected to be more than USD 27 Billion by the end of the year 2023. Factors attributing to the growth of India’s Furniture Market are growing middle-class population, rising disposable income and the increasing number of urban households. Small unorganized local players mostly dominate the furniture market in India. But from the last decade, the Indian furniture market is witnessing an increase in the contribution from organized players. In recent years with the entry of global furnishing players like IKEA in India, this growing market share of organized player will further intensify.

The Indian furniture industry covers the entire range of activities, from sourcing, manufacturing, and distribution, to sales and after sales. In the Indian perspective, furniture players are actively engaged in each of these activities. These players use various types of raw materials for making furniture; some of the raw materials include wood, bamboo, cane, plywood, metal, adhesive and plastic. Among all these; wooden furniture contributes a large segment to the furniture made in India. In the crafting of wooden furniture, mostly indigenous wood is preferred. States like Punjab, Uttar Pradesh, Gujarat, Jammu & Kashmir, West Bengal, Kerala, and Andhra Pradesh are among the leading suppliers of wood to India’s Furniture Market. However, imported wood is also used that India imports from South East Asian Countries, namely Myanmar, Malaysia, Indonesia and some from African countries as well.

The growth of the Indian Furniture Market is also driven by the tourism and hospitality industry and the corporate sector. The increasing number of hotels and business offices further spur the demand for furniture in the country. Some of the popular types of wood used in Indian Furniture Industry are Teak, Sandalwood, Sheesham, Ebony, Walnut, Sal, Red Cedar, and Rosewood. Furniture manufacturers consider several aspects related to customer demand such as the furniture’s functionality, look, feel and value while designing furniture.

Renub Research report titled “India Furniture Market by Industry Type (Organized, Un-Organized), by Ordering Method (Online, Offline), By Material Type (Wood, Plastic, Cane & Bamboo, Metal, Others), By End Users (Residential/Home, Office, Hospitality), By Products (Beds, Wardrobes/Storage, Sofas, Others), By Company (Nilkamal, Parin Furniture, Omfurn India, Century Plyboards India, Godrej Interio, Urban Ladder, Pepperfry)” provides a complete analysis of India furniture market.

Un-organized Market is dominating in the India Furniture Market
In this report we have covered market by industry type. Two types of market covered in this report: organized and un-organized. Un-organized market is dominating in the India furniture market however organized market is playing significant role in this market place.

Online market is growing tremendously in the India Furniture Market
Online market is growing tremendously in the India furniture market due to advent of Reliance Jio and easy availability of cheap smartphones. Digital boom has created positive impacts on this market place. Offline is still favorable shopping method for the most of the consumers India.

Wood is primary raw material used in the India Furniture Market
In this report, we have shown complete insight of the India furniture market by raw materials. The covered market by raw materials are; wood, plastic, cane & bamboo, metal, others. Wood is the primary raw material in the India furniture market.

By End Users - India Furniture Market
• Residential/Home
• Office
• Hospitality

By Products - India Furniture Market
• Beds
• Wardrobes/Storage
• Sofas
• Others

Company Covered in this Report
• Nilkamal
• Parin Furniture
• Omfurn India
• Century Plyboards India
• Godrej Interio
• Urban Ladder
• Pepperfry

By Industry Type - India Furniture Market
• Organized
• Un-Organized

By Ordering Method - India Furniture Market
• Online
• Offline

By Material Type - India Furniture Market
• Wood
• Plastic
• Cane & Bamboo
• Metal
• Others

If the information you seek is not included in the current scope of the study kindly share your specific requirements with our custom research team at info@renub.com

Contact Us
Email: info@renub.com
Phone: +1-678-302-0700
Web: www.renub.com

Renub Research is a leading Market Research and Information Analysis Company with centers at Noida India and Roswell USA. We have long-term experience especially in international Business-to-Business Researches, Surveys, Business and Consulting. Throughout the years we have acquired expertise in most market sectors, including Information Technology (IT), Telecoms, Life Sciences, Medical & Pharmaceuticals, Financial Services (Banking, Insurance, Reinsurance, M&A, etc.), Energy, Chemicals, Automotive, Retail, FMCG, Consumer Goods, Logistics, Governmental, Social, and Others.

Our core team is comprised of an experienced people holding graduate, post graduate and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science and many more. Our research help make the business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis and forecasting that is essential in today's ultra-competitive markets.

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