Furniture Industry In India 2018

Recent industry activities 2018 6.

Furniture industry in india 2018.

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 bulk of the market goes to the unorganised sector. Porter s five forces analysis 7. Various types of raw materials are used for furniture making in india.

India office furniture market value usd million forecast y o y growth analysis 2018 2024. India which ranked 10th in 2008 represents currently the 4 th furniture market among the main furniture markets of the world. The indian furniture industry covers the entire gamut of activities from sourcing manufacturing and distribution to sales and after sales. 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 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. Moreover the market is expected to garner. Market value chain and supply chain analysis 8. India office furniture market trends 4.

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. Opportunities in india office furniture market 5. 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 furniture sector only makes a marginal contribution to the formation of gdp representing just a small percentage.

Employment in the industry. Indian furniture industry is considered as a non organized sector with handicraft production accounts for about 85 of the furniture production 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. 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 office furniture market. In the indian context players are actively engaged in each of these activities.