Market Trends of India Furniture Industry
Changing Consumer Preferences are Fueling the Market Growth
Consumer preferences have altered as Western culture's impact has grown. The demand for adaptive and stylish furniture has increased in India's metropolitan cities. The fast rise of metropolises and the development of the housing sector are transforming people's living standards and lives. Furthermore, as consumers grow more conscious of the importance of sustainability and recycling, they make more informed purchasing selections, preferring engineered wood furniture/refurbished furniture over plastic furniture. As a result, to fulfill expanding consumer demand, furniture producers are continually producing creative and ecological goods.
Rise in Adoption of Home Décor is Fueling the Market
With the growth of the Indian economy, disposable incomes have been on the rise. This has led to an increase in purchasing power and the ability of individuals to spend more on home decor, including furniture. Shifting lifestyles and rapid urbanization have led to a change in consumer preferences. There is a growing emphasis on creating aesthetically pleasing and well-designed living spaces. As a result, people are investing more in home decor and furniture to enhance their homes' overall look and feel. Home improvement shows and interior design magazines have gained significant viewership in India. The growth in the real estate sector, including residential and commercial projects, has created a demand for furniture. New homes, apartments, and office spaces require furnishing, leading to increased sales in the furniture market.
