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. As anticipated, the India Furniture Industry Growth will be a double-digit CAGR of 13.37% during 2020-2026.
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. According to the publisher, India Furniture Market Size is growing rapidly, and it is expected to be USD 37.72 Billion by the end of the year 2026.
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.
This 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 Industry.
Industry Type - Market breakup from 2 viewpoints
- Organized
- Un-Organized
Ordering Method - Market breakup from 2 viewpoints
- Online
- Offline
Material Type - Market breakup from 5 viewpoints
- Wood
- Plastic
- Cane & Bamboo
- Metal
- Others
End Users - Market breakup from 3 viewpoints
- Residential/Home
- Office
- Hospitality
Products - Market breakup from 4 viewpoints
- Beds
- Wardrobes/Storage
- Sofas
- Others
All companies covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Covered in this Report
1. Nilkamal
2. Parin Furniture
3. Century Plyboards India
4. Godrej Industries
What is the estimated value of the Indian Furniture Market?
What is the growth rate of the Indian Furniture Market?
What is the forecasted size of the Indian Furniture Market?
Who are the key companies in the Indian Furniture Market?
| Report Attribute | Details |
|---|---|
| Published | June 2021 |
| Forecast Period | 2020 - 2026 |
| Estimated Market Value ( USD | $ 17.77 Billion |
| Forecasted Market Value ( USD | $ 37.72 Billion |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | India |
| No. of Companies Mentioned | 4 |
Table of Contents
Companies Mentioned
- Nilkamal
- Parin Furniture
- Century Plyboards India
- Godrej Industries
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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