The Branded Furniture market is valued at INR 58 bn in 2008; expected to reach INR 165 bn in 2012. Branded furniture comprises of Domestic and Commercial furniture segments. Market is dominated by the Domestic segment.
The report provides a snapshot of the market. An overview gives a quick picture of the market with estimated market size, growth rate and revenue split between the residential and commercial segments. An analysis of drivers reveals that increase in disposable income, reduction in import duties, growth in real estate sector, rising quality consciousness amongst Indian consumers, growth in IT & ITES Sector, growth in tourism, growth in organized retail is driving growth in this sector. The key challenges identified include reduction in timber harvest, FDI Regulations, market restricted to Cities.
The report identifies the current market trends including rising popularity of traditional furniture, modular kitchens, use of innovative materials, use of recycled wood, forward integration and rising popularity of kids furniture. The competitive landscape profiles the major players in this sector in terms of their business description. The report also provides details key developments in this sector.