India Furniture Market Forecast and Opportunities, 2019

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Increasing disposable income, rapid urbanisation, expanding retail and distribution network are driving furniture market in India

Increasing disposable income, rapid urbanisation, expanding retail and distribution network are driving furniture market in India

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  • 1. India Furniture Market Forecast & Opportunities, 2019 M a r k e t . I n t e l l i g e n c e . E x p e r t s
  • 2. I n d u s t r y B r i e f © TechSci Research 2 With an unorganized and fragmented furniture market, India offers immense opportunities to domestic and international players. The demand for furniture is growing in the country on account of increasing purchasing power of the consumers, changing lifestyle, increasing urbanization and widespread availability in tier II and III cities. The domestic furniture market in India is highly unorganized with regional players offering a stiff competition to leading furniture companies, which form the organized sector in the Indian furniture market. In order to increase the product availability, organized furniture manufacturers are also entering into tie-ups with E-commerce retailers. Moreover, the furniture retail chains are also focusing on increasing their presence in tier II & III cities. Major furniture manufacturers in India include Godrej Interio, Nilkamal, Durian and Wipro. According to “India Furniture Market Forecast & Opportunities, 2019”, the country’s furniture market is projected to grow at a CAGR of around 26% during 2014-19. Home furniture segment is the leading contributor, followed by office and institutional segment. Western region is expected to be the highest revenue contributor in India furniture market, followed by southern region due to the presence of large number of industrial hubs and upcoming infrastructure developments in these regions. Over the next five years, the Indian furniture market is expected to witness increasing consolidation due to growing entry of international companies as a result of the government’s 100% FDI approval into the country’s furniture industry. Consequently, the value share of small and mid-sized furniture players forming the unorganized sector is expected to decrease over the coming years. “India Furniture Market Forecast & Opportunities, 2019” elaborates the following aspects related to furniture market in India: India Furniture Market Size, Share & Forecast Segmental Analysis – Home Furniture, Office Furniture and Institutional furniture Policy & Regulatory Landscape Changing Market Trends & Emerging Opportunities Competitive Landscape & Strategic Recommendations
  • 3. Ta b l e o f C o n t e n t s © TechSci Research 3 S No. 1. Research Methodology 2. Analyst View 3. Global Furniture Market Overview 4. India Furniture Market Outlook 4.1. Market Size & Forecast 4.1.1. By Value 4.2. Market Share & Forecast 4.2.1. By Raw Material Type 4.2.2. By Sector 4.2.3. By End User Industry 4.2.4 By Company 5. India Home Furniture Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.1.2. By Raw Material Type 5.2. Furniture Price Points 5.3. Market Competition Outlook 6. India Office Furniture Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Raw Material
  • 4. Ta b l e o f C o n t e n t s C o n t d . © TechSci Research 4 S No. 6.3. Furniture Price Points 7. India Institutional Furniture Market Outlook 7.1. Market Size and Forecast 7.1.1. By Value 8. Supply Chain Management 9. Import/Export Scenario 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends & Developments 12. Policy & Regulatory Landscape 13. India Economic Profile 14. Competitive Landscape 14.1. Comparative Landscape 14.2. Company Profiles 14.2.1. Godrej Interio 14.2.2. Nilkamal Limited 14.2.3. Wipro Consumer Care & Lighting group 14.2.4. Durian Office Furniture Private Limited 14.2.5. Zuari Furniture Products 14.2.6. Damro Furniture Pvt. Ltd. 14.2.7. Featherlite Office Systems Pvt. Ltd.
  • 5. Ta b l e o f C o n t e n t s C o n t d . © TechSci Research 5 S No. 14.2.8. BP Ergo 14.2.9. Haworth India Pvt. Ltd. 14.2.10. Dynasty Modular Furniture Pvt. Ltd. 15. Strategic Recommendations 16. About Us & Disclaimer
  • 6. L i s t o f F i g u r e s © TechSci Research 6 • Figure 1: Global Furniture Market Size, By Value, 2009-2019F (USD Billion) • Figure 2: Global Furniture Market Share, By Segment, By Value, 2013 • Figure 3: India Furniture Market Size, By Value, 2009-2019F (USD Million) • Figure 4: India Real Estate Market Size, By Value, 2011-12 & 2019-20F (USD Billion) • Figure 5: India per Capita Income, 2009, 2012 (USD) • Figure 6: India Premium Furniture Market Share, By Segment, By Value, 2013 • Figure 7: India Furniture Market Share, By Raw Material, By Value, 2013 • Figure 8: India Furniture Market Share, By Raw Material, By Value, 2019F • Figure 9: Urban Households in India, 2001 & 2011 (Million) • Figure 10: Rented Households in India, 2001 & 2011 (Million) • Figure 11: India Furniture Market Share, By Sector, By Value, 2013 • Figure 12: India Furniture Market Share, By Sector, By Value, 2019F • Figure 13: India Furniture Market Share, Organized Vs. Unorganized Sector, By Value, 2009, 2011 & 2013 • Figure 14: India Furniture Market Share, By Type, By Value, 2013 • Figure 15: India Furniture Market Share, By Type, By Value, 2019F • Figure 16: Number of Households in India, 2001, 2011 (Million) • Figure 17: Urban & Rural Households with 3 to 4 Dwelling Rooms in India, 2001 & 2011 (Million) • Figure 18: Urban & Rural Households with 2 to 3 Dwelling Rooms in India, 2001, 2011 (Million) • Figure 19: India Furniture Market Share, By Company, By Value, 2013 • Figure 20: India Furniture Market Share, By Company, By Value, 2019F • Figure 21: India Home Furniture Market Size, By Value, 2009-2019F (USD Million) • Figure 22: India Construction Market Size, By Value, 2010, 2020F (USD Billion)
  • 7. L i s t o f F i g u r e s C o n t d . © TechSci Research 7 • Figure 23: India Home Furniture Market Share, By Raw Material Type, 2013 • Figure 24: India Home Furniture Market Share, By Raw Material Type, 2019F • Figure 25: India Home Furniture Market Size, By Value, 2009-2019F (USD Million) • Figure 26: IT Companies in India, By State, 2011 • Figure 28: Per Capita Income in India, By State, 2012-13 (USD) • Figure 29: India Office Furniture Market Share, By Raw Material, By Value, 2012 • Figure 30: India Office Furniture Market Share, By Raw Material, By Value, 2019F • Figure 31: India Institutional Furniture Market Size, By Value, 2009-2019F (USD Million) • Figure 32: Percentage Change in Foreign Tourist Footfall, 2010-12 • Figure 33: India Furniture Supply Chain Management Flowchart • Figure 34: Furniture Market Supply Chain in India, By Profit Margins, 2014 • Figure 35: India Furniture Imports, By Value, 2008-2012 (USD Million) • Figure 36: India Furniture Export, By Value, 2008-2012 (USD Million) • Figure 37: India Real Estate FDI as a Percentage of Total FDI, 2006-07, 2010-11 • Figure 38: Real Estate Residential Demand in India from Tier I & II Cities, 2010-14 (‘000 units) • Figure 39: Number of Foreign Tourists in India, 2000-12 (Million) • Figure 40: India Urban Population Size, 1990, 2000 & 2010 (Million) • Figure 41: India per Capita Income, 2009, 2012 (USD) • Figure 42: India Unorganized Furniture Market Share, 2009, 2011, 2013 • Figure 43: Physical Vs. Online Selling, By Cost Comparison • Figure 44: India E-commerce Market Size, By Value, 2009, 2012 & 2013 (USD Billion) • Figure 45: India Internet Users, 2006, 2009, 2012 & 2013 (Million)
  • 8. L i s t o f F i g u r e s C o n t d . © TechSci Research 8 • Figure 46: Nilkamal Exports, By Value, 2011-12 & 2012-13 (USD Million) • Figure 47: Nilkamal Total Revenues, 2011-12 & 2012-13 (USD Million) • Figure 48: Nilkamal Operating Profit, 2011-12 & 2012-13 (USD Million) • Figure 49: Nilkamal Net Profit, 2011-12 & 2012-13 (USD Million) • Figure 50: WCCLG Revenue in India, Furniture Segment, Premium Furniture Segment, 2012-13 (USD Million) • Figure 51: Indian Furniture Products Limited(IFPL) Manufacturing Unit Details, By Investment, By Production Capacity
  • 9. L i s t o f Ta b l e s © TechSci Research 9 • Table 1: List of Furniture Wood Type, By Usage • Table 2: Unorganized Furniture Markets in India, By Location, By Metro City • Table 3: High Rise Buildings in India, Upcoming Major Projects, 2014-2017F • Table 4: Major Residential Projects in India, By Real Estate Developer, 2012 • Table 5: Godrej Interio Revenue Share, By Region, 2013 • Table 6: Average Sofa Prices in India, By Company, 2014 (USD per Unit) • Table 7: Average Wardrobe Prices in India, By Company, 2014 (USD per Unit) • Table 8: Average Bed Prices in India, By Company, 2014 (USD per Unit) • Table 9: Average Table Prices in India, By Company, 2014 (USD per Unit) • Table 10: Average Dressing Table Prices in India, By Company, 2014 (USD per Unit) • Table 11: Average Chair Prices in India, By Company, 2014 (USD per Unit) • Table 12: Average Cabinet Prices, By Company, 2014 (USD per Unit) • Table 13: Average Wall Unit Prices in India, By Company, 2014 (USD per Unit) • Table 14: Average Furniture Prices in India, By Category, By Company, 2014 (USD per Unit) • Table 15: Average Office Chair Prices in India, By Company, 2014 (USD per Unit) • Table 16: Average Office Table Prices in India, By Company, 2014 (USD per Unit) • Table 17: Average Office Furniture Prices in India, By Company, By Category, 2014 (USD per Unit) • Table 18: Average Office Table Prices in India, By Company, By Category, 2014 (USD per Unit) • Table 19: India Major Hospital Projects in Execution, By Value, By State, 2013- 2016F (USD Million) • Table 20: India Major Institutional Projects, By Company, By Institutions • Table 21: India Furniture Manufacturers Distributors Network, By Company, By Region, By Export & Import Destinations
  • 10. L i s t o f Ta b l e s C o n t d . © TechSci Research 10 • Table 22: India Furniture Import Value, By Source Destination, 2011-12 & 2012-13 (USD Million) • Table 23: India Furniture Export Value, By Source Destination, 2011-12 & 2012-13 (USD Million) • Table 24: India Furniture Importers, By Product, By Source of Import • Table 25: India Furniture Exporters, By Products, By Source of Export • Table 26: Major AFMT Members, By Location • Table 27: Major AFMI Members, By Location • Table 28: Major Furniture Import, By Type • Table 29: India Furniture Imports Custom Duty, 2014 • Table 30: India Furniture Manufacturers Details, By Products, Manufacturing Units, By Production Capacity • Table 31: Nilkamal, Financial Ratio Analysis, 2011-12 & 2012-13
  • 11. R e s e a r c h M e t h o d o l o g y 11 Baseline Methodology Our dedicated team of industry experts has comprehensively monitored and analyzed various aspects of the Indian furniture market. The team has analyzed the various industry segments and speculated a positive future of the industry. Taking into consideration growth of various segments of population, real estate sector growth, changing disposable income, factors influencing the furniture purchase, etc., our team of analysts has provided a prudent analysis of the industry’s performance in the future. This would enable our clients in planning their investment decisions and explore several growth opportunities in the Indian furniture market. For our study, we have gathered information through primary research surveys with around 10 manufacturers and 8 distributors of furniture industry in India, followed by an exhaustive search of credible paid databases. Our team of experts has then prudently evaluated all the collected information and personated them in a chronological order to depict a meaningful and clear picture of the furniture market in India. In addition, while compiling the data, we have also cross-checked all the collected information from multiple sources and data warehouses in order to present the most accurate and precise information of the concerned industry. We have also identified and analyzed all emerging trends, including the important drivers and challenges that industry is confronting. We have also presented various forecasts for the industry based on our in-depth analysis of market dynamics, prevalent trends, developments and growth opportunities. Companies Interviewed Top seven companies interviewed: Godrej Interio, Durian, Damro, Evok, Haworth, Dynasty, Wipro, Home Centre, Nilkamal, Hometown Sources Economic Intelligence Unit (EIU), Hoovers, Business Week, Company Annual Reports, Factiva, One Source and News Articles © TechSci Research
  • 12. S a m p l e D a t a - S n a p s h o t 12 © TechSci Research X% 2013 X% 2019F Home, 50% Office, 50% Figure 3: India Premium Furniture Market Share, By Segment, By Value, 2013 Organized, 50% Unorganized, 50% Figure 6: India Furniture Market Share, By Sector, By Value, 2013 50% 50% 50%50% 50% 50% 2009 2011 2013 Organised Unorganised Figure 8: India Furniture Market Share, Organized Vs. Unorganized Sector, By Value, 2009, 2011 & 2013 5 10 15 20 25 30 35 40 45 50 55 CAGR: X% CAGR: X% Figure 13: India Home Furniture Market Size, By Value, 2009-2019F (USD Billion) Wood 33% Metal 33% Plastic 34% Figure 18: India Office Furniture Market Share, By Raw Material, By Value, 2019F 33% 33% 34% 2019F Wood Metal Plastic 33% 33% 34% 2013 Wood Metal Plastic XXXX XXXXX XXXXX Figure 14: India Home Furniture Market Share, By Raw Material Type, 2013 / 2019F 25% 50% 75% 2009 2011 2013 Unorganised Figure 20: India Unorganized Furniture Market Share, 2009, 2011,2013 Wood 33% Metal 33% Plastic 34% Figure 17: India Office Furniture Market Share, By Raw Material, By Value, 2013
  • 13. R e p o r t O r d e r i n g 13 © TechSci Research Report Name: India Furniture Market Forecast and Opportunities, 2019 Product Price To View Sample OR Purchase Report License Type Price Electronic Access - Single User License USD 1600 CD-ROM Mail Delivery USD 2400 Hard Copy Mail Delivery USD 2800 Electronic Access - Multi-User License USD 4500
  • 14. A b o u t U s & D i s c l a i m e r 14 TechSci Research – North America 2950, Boundary Road, Burnaby, British Columbia, Canada Tel: +1- 646- 360-1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Oldbrook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific A – 51, Sector -57, Noida, National Capital Region, U.P. - India Tel: +91-120-4243434 Email: sales@techsciresearch.com www.techsciresearch.com © TechSci Research About Us : TechSci Research is a global market research and consulting company with offices in Canada, the UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports India Air Conditioners Market Forecast & Opportunities, 2019 United States Air Purifiers Market Forecast and Opportunities, 2019 Indonesia Air Conditioners Market Forecast & Opportunities, 2019 Partial List of Clients Disclaimer : The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.