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 Home Furnishings Market Report in India. 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 furnishings represent products used for decorating the home. They can be of various types, such as furniture, carpets, curtains, appliances, cooking utensils, art objects, wall papers, built-in ovens, dishwashers, etc. Home furnishings aid in offering an aesthetic appeal and comfortable ambiance to several spaces of a home, including the living room, bedroom, dining room, balcony, etc. Consequently, they are in high demand among consumers in India.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The shifting preferences toward luxury home furnishing items and the expanding interior designing businesses are primarily driving the India home furnishings market. Additionally, the growing real estate industry and the elevating focus among leading market players on aggressive promotional campaigns to expand their existing consumer base are also positively influencing the market across the country. Moreover, the emerging trend of product customization and the increasing product availability through online channels are acting as significant growth-inducing factors. Apart from this, the launch of numerous favorable policies by the government bodies, such as Make in India and Amended Technology Upgradation Fund Scheme (ATUFS), aimed at minimizing exports, encouraging domestic manufacturing of home décor products, and enhancing capital investments for technology up-gradation and modernization of the textile industry is expected to propel the India home furnishings market in the coming years.
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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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