India Home Furnishing Market is Expected to be Fueled by Home Furniture Segment During the Forecast Period
India
Home Furnishing market is primarily driven by the increasing popularity of home
décor items, rising demand for trending & unique products, and growing
adoption of eco-friendly products.
According to TechSci Research report, “India Home Furnishing Market- By Region, Competition Forecast and Opportunities, 2019-2029”. India Home Furnishing market has
expanded significantly during the forecast period owing to the factors such as growing
demand for decorative items and rising government initiative towards handloom
products.
The home furnishing market in India has been growing rapidly over the
past few years. It includes a wide range of products such as furniture,
bedding, curtains, carpets, kitchenware, and home decor items. The increasing popularity
of home décor items and growing demand for eco-friendly products have significantly
surged the demand for home furnishing products in the country.
The India home furnishing industry is anticipated to grow at an
impressive rate during the forecast period, owing to rising consumer interest
in interior design and active participation in the decoration of their homes. Furthermore,
consumers are influenced by the home style and lifestyle of certain influencers
and actors, as a result of which they are willing to spend more on various
designer and luxury home furnishings. Consequently, people are heavily
investing in renovating and remodeling their respective homes with the latest
interior design. Also, with the reduction in living
spaces, Indian consumers are now seeking compact and easily movable furniture
options that can accommodate their limited space availability. This shift in
consumer preference has significantly contributed to the growth of the home
furnishing market in India. Compact furniture allows individuals to optimize
their living areas and adapt to their changing spatial needs, making it a
popular choice among urban dwellers. The demand for space-saving furniture has
spurred innovation and the introduction of versatile designs in the market, providing
consumers with practical and functional solutions for their homes.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "India Home Furnishing Market"
The market is highly fragmented with many small and medium-sized
players operating within the market. However, there are also some major players
such as Welspun India Limited, Trident India Limited,
and Reliance Industries Limited, etc. which own a
significant share within the organized segment of this market. These companies are
investing heavily in expanding their product offerings and increasing their
presence in the market through advertising, promotional activities like
marketing campaign, and prominent channels of distribution like online and
offline channels.
The e-commerce industry has played a significant role in the growth of
the home furnishing market in India. Online platforms such as Amazon, Flipkart,
and Pepperfry have made it easier for customers to access a wide range of home
furnishing products through internet usage from their respective homes.
Additionally, the COVID-19 pandemic has accelerated the shift toward online
shopping, which has further boosted the growth of the market.
The India home
furnishing market is segmented into product type, distribution channel, and
region.
Based on product
type, the India
home furnishing market is segmented into home furniture (bed, table, chairs,
etc.), home textiles (carpets & rugs, cushions, etc.), and wall décor (scenic
accent wall, rugged walls). Among these segments, the home furniture segment
has a significant share of the market, and the segment is projected to grow at
a significant rate during the forecast period due to the increasing usage and
availability of designer home furniture products such as beds, tables, chairs,
etc.
Based on distribution
channels,
the India home furnishing market is segmented into supermarkets/hypermarkets, specialty
stores, online, and non-retail. Among these, the online segment is the fastest-growing
segment in the market during the forecast period owing to the availability of
heavy discounts on products on online websites and the rising number of
e-commerce websites in the country.
Major operating companies operating in the India home furnishing market are:
- Welspun India Limited
- Trident India Limited
- The Bombay Dyeing & Manufacturing Co Ltd.
- Alok Industries Limited
- Himatsingka Seide Limited
- D'Decor Home Fabrics Pvt. Ltd.
- Bella Casa Fashion & Retail Limited
- Reliance Industries Limited
- Godrej & Boyce Manufacturing Company Limited
- Wakefit Innovations Private Limited
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“The home furnishing market in India
has been growing rapidly over the past few years. The India home furnishing market
includes a wide range of decorative and designer products such as bed linen,
curtains, towels, cushions, table linen, kitchen linen, and carpets, among
others. Factors driving the growth of the India home furnishing market include
the rising popularity of trendy products, changing lifestyles and preferences,
and a growing awareness of home décor and interior design. In addition, the home
furniture segment is also witnessing strong growth, driven by factors such as
rising residential complex construction activities, increasing consumer
preferences for stylish, and comfortable furniture.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
India Home Furnishing
Market By Product Type (Home Furniture (Bed, Table, Chairs, etc.), Home
Textiles (Carpets & Rugs, Cushions, etc.), Wall Décor (Scenic Accent Wall,
Rugged Walls)), By Distribution Channel (Supermarkets/Hypermarkets, Specialty
Stores, Online, and Non-Retail), By Region, By Company, Forecast &
Opportunities, 2019-2029F, has
evaluated the future growth potential of the India Home Furnishing market and
provides statistics & 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 andanalyzes the emerging trends along with essential drivers,
challenges, and opportunities in the India Home Furnishing market.
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