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. As per this research report, the India Furniture Market was US$ 17.77 Billion in 2020.
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.
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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 Renub Research, 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.
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