India Home Furnishings Market Overview:
The latest report published by IMARC Group, titled “India Home Furnishings Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on India Home Furnishings Market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India home furnishings market is expected to exhibit a CAGR of 8.77% during 2022-2027.
Home furnishing products include appliances, rugs, cooking utensils, art objects, wall-to-wall carpeting, built-in ovens, ranges, and dishwashers. They assist in providing an appeal and comfortable ambiance to several spaces, such as the bedroom, living room, dining room, etc. In line with this, home furnishings are effective ways of portraying the lifestyle that consumers believe in. They boost mood and assist in keeping houses more organized and well-maintained. As such, home furnishings are commonly available via online platforms at discounted rates and with the facilities of free home delivery and secured online payment methods. Consequently, they are extensively utilized across India.
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Market Trends:
The expanding e-commerce industry, on account of the increasing reliance on smartphones, tablets, laptops, etc., is primarily driving the India home furnishings market. Additionally, key market players operating in the country are focusing on visually attractive online product displays and aggressive promotional campaigns to widen their existing consumer base, which is further bolstering the market growth. Besides this, the launch of favorable initiatives, such as Make in India, by government bodies that aim at minimizing exports and encouraging domestic manufacturing of home furnishings to provide employment opportunities is acting as another significant growth-inducing factor.
Moreover, the rising foreign direct investment (FDI) in the textile sector and the escalating demand for bath and table linen are propelling the market growth across India. Apart from this, the growing number of interior design businesses is also catalyzing the market growth. Furthermore, the introduction of eco-friendly products that have a low-key impact on the environment is anticipated to fuel the India home furnishings market over the forecasted period.
India Home Furnishings Market Segmentation:
Our report has categorized the market based on product, price and distribution channel.
Breakup by Product:
- Home Furniture
- Home Textile
- Wall Decor
- Others
Breakup by Price:
- Mass
- Premium
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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