Rising middle class population, changing lifestyle and rapid urbanization to fuel India furniture market through 2024
According to TechSci Research report, “India Furniture Market By Supply, By Sector Type, By Type, By Product Type, By Point of Sale, By Raw Material Type, Competition, Forecast & Opportunities, 2024”, furniture market in India is projected to reach $ 31.6 billion by 2024, on the back of growing brand consciousness and increasing expenditure on furniture goods among millennials. Moreover, easy availability of furniture in various regions through the online platform is expected to boost sales of domestic furniture products across the country. Growing wooden industry and rapid urbanization are some of the other factors anticipated to positively influence India furniture market during forecast period.
Browse 12 market data Tables and 45 Figures spread through110 Pages and an in-depth TOC on“India Furniture Market”
furniture category accounted for majority of the country’s furniture market in
2018 and is likley to maintain its dominating position in coming years, backed
by growing demand for multi-functional furniture with various features such as
maximum storage facility, stylish design and innovative space saving designs. In
terms of material, wood accounts for the largest market share, owing to the
aesthetic appearance and convenient maintenance of wood. Moreover, easy raw
material availability is expected to enable the category to continue dominating
the furniture market. Northern part of the country captured nearly one-third of
the market in 2018, on account of rapid urbanization and growing corporate
sector in the region.
Customers can also request for 10% free customization on
“Booming hospitality sector, easy availability of flexible
loans, increasing number of household
units and shifting consumer preferences towards modern furniture rather than
traditional furniture are some of the major factors that would drive the
market. Moreover, the latest trend of Do It Yourself is expected to have a positive
impact on furniture market in India over the course of next five years.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
According to TechSci Research
report “India Furniture Market
By Supply, By Sector Type, By Type, By Product Type, By Point of Sale, By Raw
Material Type, Competition, Forecast & Opportunities, 2024”
evaluated the future growth potential of India furniture market and provides
statistics and 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 India furniture market.
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