BURNABY, Canada, January 21, 2016 /PRNewswire/ --
Growing demand for stylish and modern home furnishing products from residential, healthcare, hospitality, food services and commercial sectors to propel India home furnishing market
According to a TechSci Research report, "Home Furnishing Market in India By Product Type, By Region & Competition Forecast and Opportunities, 2010 - 2020", home furnishing market in India is projected to cross INR40,000 crore by 2020, on account of rising demand for contemporary designs, increasing number of households, booming real estate sector, growing demand for branded and custom designed furniture and increasing availability of innovative and affordable home furnishing products in the country. Over the last five years, India has emerged as one of the fastest growing markets for home furnishing products in APAC. In 2016, the home furnishing market in India is expected to witness a Y-o-Y growth of around 9.5%, with a similar trend anticipated to continue through 2020.
Rising demand for bath and table linen products, upholstery, etc., increasing demand for premium quality window coverings such as curtain fabric and blinds, and rising trend of using wallpapers and wall-decals over traditional paints & coatings are some of the major factors driving adoption of home furnishing products in the country. In 2014, bed linen segment dominated India home furnishing market, followed by bath linen and curtain fabric segment. Welspun India, Trident Limited, Bombay Dyeing, Alok Industries, Himatsingka, Siyaram, D'Decor are few of the leading players operating in India home furnishing market.
"In India, home furnishing market has undergone radical changes in terms of organized retailing over the past few years. Growing adoption of luxury home furnishing products in India across various industries such as healthcare, hospitality, food services and commercial set-ups, rising adoption of branded products, surging purchasing power of consumers, growing government focus to promote domestic manufacturing, and increasing FDI inflow are all huge positives for the country's home furnishing market, which is expected to grow through 2020.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Home Furnishing Market in India By Product Type, By Region & Competition Forecast and Opportunities, 2010 - 2020" has evaluated the future growth potential of India home furnishing market and provides statistics and information on market structure, consumer behavior and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities present in India home furnishing market.
About TechSci Research:
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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