Market Overview:

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.

India Home Furnishings Market Trends:

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.

Key Market Segmentation:

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:

• 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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage: