Furniture is needed in every household for decorating the home and various other purposes. The most common furniture that is used in every home is a sofa set, a cupboard, a bed, and a table and chairs. Apart from that, there are other decorative furniture too. Whenever you buy a home or move into a new home, it is one of the basic things that you need whenever you build a home for yourself.
In recent years, the taste and lifestyle of the people has changed a lot in India. They are opting for more stylish and designer things for themselves. This trend has come in the market of furniture as well. Buyers are now looking for more attractive and swanky furniture for their home so that they can give a luxurious and stylish look to their home. Different people have a different kind of taste. Some look for modern furniture that looks stylish and saves space as well whereas some people prefer a traditional look which gives a royal feeling.
The furniture market is an important segment of the home décor industry. With the increase in urbanization and growth in the real estate market, the demand for furniture has also gone up. People want to decorate their house with the best quality furniture and with attractive looks. The e-commerce segment has also shown great interest in the furniture market of India. There are many portals that sell furniture online at a reasonable price as well. Pepperfry, Urban ladder are some of the popular portals from where you can buy furniture at a discounted rate as well.
The furniture market is growing at a rapid scale with the growth in the real estate sector. With new houses made on a large scale, the demand for furniture has also grown equally. The rapid growth of metro cities and the availability of stylish furniture is also giving a boost to its market. The rising standard of home décor and home furnishing with modular furniture is adding wheels to the revenue of this sector as well.
Many big companies have also entered the furniture market like Godrej, Zuari, Durian, Nilkamal, Featherlite which is making a substantial growth in this segment.
According to the data released by the World Bank, the organized Indian furniture industry shall grow at the rate of 20 percent per annum in the next few years, and it anticipated that it would cross $32 billion by the year 2019. The online home décor market will also witness a growth of CAGR 50.42% in the revenue between the period of 2014 to 2019. The luxury furniture market will also register a growth of $ 27.01 billion by the year 2020, at a growth rate of CAGR of 4.1 percent during the forecast period of 2015 to 2020. The growth in tourism, hospitality, retail, and hospital sector will also contribute to the growth in the furniture market. With the relaxation of FDI in all major industries, it is expected that the furniture industry will also get some benefit from it.
In recent years, the taste and lifestyle of the people has changed a lot in India. They are opting for more stylish and designer things for themselves. This trend has come in the market of furniture as well. Buyers are now looking for more attractive and swanky furniture for their home so that they can give a luxurious and stylish look to their home. Different people have a different kind of taste. Some look for modern furniture that looks stylish and saves space as well whereas some people prefer a traditional look which gives a royal feeling.
The furniture market is an important segment of the home décor industry. With the increase in urbanization and growth in the real estate market, the demand for furniture has also gone up. People want to decorate their house with the best quality furniture and with attractive looks. The e-commerce segment has also shown great interest in the furniture market of India. There are many portals that sell furniture online at a reasonable price as well. Pepperfry, Urban ladder are some of the popular portals from where you can buy furniture at a discounted rate as well.
The furniture market is growing at a rapid scale with the growth in the real estate sector. With new houses made on a large scale, the demand for furniture has also grown equally. The rapid growth of metro cities and the availability of stylish furniture is also giving a boost to its market. The rising standard of home décor and home furnishing with modular furniture is adding wheels to the revenue of this sector as well.
Many big companies have also entered the furniture market like Godrej, Zuari, Durian, Nilkamal, Featherlite which is making a substantial growth in this segment.
According to the data released by the World Bank, the organized Indian furniture industry shall grow at the rate of 20 percent per annum in the next few years, and it anticipated that it would cross $32 billion by the year 2019. The online home décor market will also witness a growth of CAGR 50.42% in the revenue between the period of 2014 to 2019. The luxury furniture market will also register a growth of $ 27.01 billion by the year 2020, at a growth rate of CAGR of 4.1 percent during the forecast period of 2015 to 2020. The growth in tourism, hospitality, retail, and hospital sector will also contribute to the growth in the furniture market. With the relaxation of FDI in all major industries, it is expected that the furniture industry will also get some benefit from it.
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