Furniture Industry In India

This is followed by, the office furniture segment with a 20 per cent share and the contract segment, accounting for the remaining 15 per cent. Upholstered furniture, office furniture, kitchen furniture and other furniture.

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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.

Furniture industry in india. The report includes India furniture market projections and demand forecasting. Commercial sector is further sub-segmented into non. Global furniture market is projected to reach $800,596 million by 2025 end, with a CAGR of 3.5% from 2018 to 2025.

The furniture sector in India only makes a marginal contribution to the formation of GDP, representing just a small percentage (about 0.5%). Moreover, the market of residential sector is expected to achieve Y-o-Y. This has led the furniture industry to mold and be diversified.

In the year 2006, the Indian furniture industry was estimated at around Rs 35,000 crores. Indian market slowed down even before lock-down: The global furniture market size was valued at USD 480.7 billion in 2017 and is expected to grow at a CAGR of 5.1% from 2018 to 2025.

Revenue in the Furniture & Homeware segment amounts to US$1,103m in 2020. Furniture refers to movable objects intended to support various human activities such as seating (e.g., chairs, stools, and sofas), eating (), and sleeping (e.g., beds).Furniture is also used to hold objects at a convenient height for work (as horizontal surfaces above the ground, such as tables and desks), or to store things (e.g., cupboards and shelves). Furniture industry in india 1.

Owing to the channelize process of production, distribution, and selling and increasing demand for household furniture (due to an increased spending capacity of consumers), the home furniture market in India may have an interesting growth during the forecast period. The furniture industry in India employs a total of around 300,000 workers and the total production of furniture in 2001-02 was USD 3580 million. Revenue in the Furniture market amounts to US$205,052m in 2020.

India is one of the largest and fastest-growing economies in the world. The market is expected to grow annually by 5.1% (CAGR 2020-2023). Unilever 23 Apr, 2020, 12.35 PM IST.