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COVID-19
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The India home furnishings market is expected to exhibit a CAGR of 8.77% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Home furnishings include furniture, appliances, rugs, cooking utensils, art objects, wall-to-wall carpeting, built-in ovens, ranges, and dishwashers. They aid in providing an appeal and comfortable ambiance to different spaces of a home, including the bedroom, living room, and dining room. There is currently a rise in the availability of innovative and affordable home furnishings across India.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The thriving e-commerce industry on account of the increasing internet penetration and reliance on smartphones, tablets and laptops represents one of the key factors propelling the growth of the market in India. Additionally, leading players operating in the country are focusing on visually attractive online product displays and aggressive promotional campaigns to widen their existing consumer base. They are also offering customization to customers, which enables them to request for a specific material and color of furniture upholstery to match their home décor. Apart from this, the Government of India is introducing campaigns like Make in India that aim at minimizing exports and encouraging domestic manufacturing of home furnishings to offer employment opportunities. In addition, it is implementing Amended Technology Upgradation Fund Scheme (ATUFS) to catalyze capital investments for technology up-gradation and modernization of the textile industry. This, along with the rising foreign direct investment (FDI) in the textile sector and the growing demand for bath and table linen, is driving the market across the country. Moreover, there is an increase in the adoption of luxury home furnishings due to the rising disposable incomes of individuals. Factors, such as the increasing number of households and rapid expansion of interior design businesses across India, are also strengthening the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the India home furnishings market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on product, price and distribution channel.
Breakup by Product:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Breakup by Price:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | INR Crore |
| Segment Coverage | Product, Price, Distribution Channel, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the India home furnishings market to exhibit a CAGR of 8.77% during 2022-2027.
The rising demand for luxury home furnishings, along with the emergence of personalized trends for
home décor, is primarily driving the India home furnishings market.
The sudden outbreak of the COVID-19 pandemic has led to the shifting consumer preferences from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase
of home furnishings across the nation.
Based on the product, the India home furnishings market can be categorized into home furniture,
home textile, wall décor, and others. Currently, home furniture exhibits clear dominance in the
market.
Based on the price, the India home furnishings market has been segmented into mass and premium,
where mass price represents the largest market share.
Based on the distribution channel, the India home furnishings market can be bifurcated into
supermarkets and hypermarkets, specialty stores, online stores, and others. Among these, specialty
stores account for the majority of the total market share.
On a regional level, the market has been classified into North India, West and Central India, South
India, and East India, where West and Central India currently dominates the India home furnishings
market.
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