Furniture Industry In India 2018

The luxury furniture market is expected to garner 27 01 billion by 2020 registering a cagr of 4 1 during the forecast period 2015 2020. The furniture sector only makes a marginal contribution to the formation of gdp representing just a small percentage. Indian furniture industry is considered as a non organized sector with handicraft production accounts for about 85 of the furniture production in india.

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Recent industry activities 2018 6.

Furniture industry in india 2018.

Moreover the market is expected to garner. India furniture market stood at 21 billion in 2018 and is projected to grow to over 31 billion by 2024 exhibiting a cagr of around 7 during 2019 2024 on account of growing real estate and hospitality industries. According to a study by the world bank india s organised furniture industry is expected to grow 20 per annum over the next few years and is projected to cross us 32 billion by 2019. The market growing annually at an average rate of 7 has reached in 2018 a new peak of more than 15 billion us.

Opportunities in india office furniture market 5. Scenario of furniture industry in india the range of indigenous furniture available in india includes both residential and contract system furniture with an increased concentration in office and household furniture. India furniture market stood at 21 billion in 2018 and is projected to grow to over 31 billion by 2024 exhibiting a cagr of around 7 during 2019 2024 on account of growing real estate and hospitality industries. The indian furniture industry covers the entire gamut of activities from sourcing manufacturing and distribution to sales and after sales.

Market value chain and supply chain analysis 8. India which ranked 10th in 2008 represents currently the 4 th furniture market among the main furniture markets of the world. The india furniture market is anticipated to reach usd 32 61 billion by 2018 by registering a cagr of 13 38 during the forecast period i e. Employment in the industry.

Moreover the market is expected to garner. India office furniture market value usd million forecast y o y growth analysis 2018 2024. India office furniture market. In the indian context players are actively engaged in each of these activities.

Porter s five forces analysis 7. The bulk of the market goes to the unorganised sector. Various types of raw materials are used for furniture making in india. The india furniture market is anticipated to reach usd 32 61 billion by 2018 by registering a cagr of 13 38 during the forecast period i e.

India office furniture market trends 4. The most popular forms of indian furniture include home garden furniture office furniture kitchen furniture bedroom furniture upholstered furniture seating furniture parts and contract furniture in wood metal plastic cane and bamboo.

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