India Home Furnishing Market to Grow at 8.23% During 2023-2028, Bolstered by Expanding Interior Design Businesses

May 30, 2022 | Retail

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The latest report by IMARC Group, titled “India Home Furnishing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the India home furnishing market is expected to grow at a CAGR of 8.23% during 2023-2028. Home furnishing is the aesthetic designing of the interior and exterior of space with the help of furniture, appliances, rugs, cooking utensils, built-in ovens, art objects, wall-to-wall carpeting, and dishwashers. They are used to uplift the ambience and appeal of different spaces such as the living room, dining room, and bedroom. Home furnishing is an effective way of portraying the lifestyle that consumers believe in. In India, home furnishing is gaining prominence among individuals due to the rising availability of affordable furnishings and product innovations.

India Home Furnishing Market Trends:

The market is primarily driven by the expanding interior design businesses, and rapid globalization and urbanization trends that have facilitated a variety of home furnishing choices and designs for the consumers. Homeowners are realizing the need for home furnishings to make their homes more attractive and organized, thus fueling the market growth. In addition, the rising environmental awareness among consumers has shifted their preferences toward eco-friendly home furnishing products. Besides this, the inflating disposable incomes and changing consumers' lifestyle choices are escalating the product demand across the country. Furthermore, the significant growth of the e-commerce industry, growing internet penetration and rising reliance on smartphones, tablets and laptops are also facilitating the market growth. The Government of India is also introducing campaigns, such as Make in India, that minimize exports and encourage domestic manufacturing of home furnishing products while providing employment opportunities to its citizens. They are also implementing the Amended Technology Upgradation Fund Scheme (ATUFS), which is catalyzing capital investments for technology upgradation and modernization of the textile industry. Moreover, manufacturers are developing eco-friendly products that have a low-key impact on the environment, creating a positive outlook for the market.

Market Summary:

Based on the product, the market has been segmented into home furniture, home textile, wall décor, and others.
On the basis of the price, the market has been classified into mass and premium.
The market has been categorized based on the distribution channel into supermarkets and hypermarkets, specialty stores, online stores, and others.
Region-wise, the market has been divided into North India, West and Central India, South India, and East India.
The competitive landscape of the market has been examined in the report, with the detailed profiles of the key players operative in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
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)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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India Home Furnishing Market to Grow at 8.23% During 2023-2028, Bolstered by Expanding Interior Design Businesses

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