Online home decor market in India to grow by USD 3.75 billion from 2021 to 2026; Home furniture segment to account for maximum market growth - Technavio

NEW YORK, March 5, 2023 /PRNewswire/ -- According to Technavio, the online home decor market size in India is estimated to grow by USD 3.75 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 10.24% during the forecast period. Technavio segments the market by type (home furniture, home furnishings, and other home decorative products) and application (indoor and outdoor). The market will observe maximum growth in the home furniture segment during the forecast period. Factors such as the rising preference for online shopping, growing internet penetration, and the increasing number of smartphone users are creating significant opportunities for vendors operating in the segment. For more insights on the market size - Request a sample report

What's New?

• Special coverage on the Russia-Ukraine war; inflation; recovery analysis from COVID-19; supply chain disruptions, trade tensions; and risk of recession 
• Competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial  - buy the report!

Online Home Decor Market In India – Market Dynamics

Key growth driver

• The growth of the market is driven by the rise in online spending and smartphone penetration.
• The high penetration of the internet, improved economic growth, and the emergence of m-commerce have increased consumer spending on online shopping.
• Online shopping websites provide detailed information on various products, such as quality, safety, and user guidance, among others, which facilitate the decision-making process.
• The rising consumer inclination of consumers toward online shopping has encouraged market players to expand their presence online and drive more sales.

Major trend influencing the growth

• The growing demand for eco-friendly home décor items is a major trend in the market.
• Consumers are increasingly becoming aware of the safety of the environment, which is increasing the demand for eco-friendly products.
• Several legal agencies including Forest Stewardship Council (FSC) and the Sustainable Furnishing Council (SFC) are helping vendors to develop eco-friendly home furnishing by providing guidance.
• For instance, SFC helps furniture manufacturers adopt sustainable practices to reduce carbon emissions and waste stream pollutants. It also discourages them from using non-recyclable materials in the manufacture of home décor items.
• This trend will positively influence the growth of the market during the forecast period.

Major growth challenge

• The criticality of logistics management leading to high overhead costs is challenging the growth of the market.
• The lack of proper delivery addresses and logistical complications such as late product delivery and chaotic routing increase the overhead costs for vendors.
• The lack of standard delivery services also affects the brand value of the company and weakens profit margins.
• The rise in labor costs further reduces the profit margins of vendors, thereby challenging the growth of the market.

Insights on Market Drivers, Trends, & Challenges and forecast period (2022 to 2026) - Request a sample report!

What are the key data covered in this online home decor market in India report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the online home decor market in India between 2022 and 2026
• Precise estimation of the size of the online home decor market in India and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the online home decor market across India
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of online home decor market vendors in India

Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform

Related Reports:

• The home decor market is estimated to grow at a CAGR of 7.27% between 2022 and 2027. The size of the market is forecast to increase by USD 289.49 billion. The growing importance of innovative, customized furniture is notably driving the market growth, although factors such as high volatility in raw material prices and transportation costs may impede the market growth.
• The home furniture market is estimated to grow at a CAGR of 5.34% between 2022 and 2027. The size of the market is forecast to increase by USD 105.01 billion. The increasing online sales are notably driving the market growth, although factors such as fluctuating labor costs and raw material prices may impede the market growth.

Table of contents:

1. Executive Summary 

  1.1 Market Overview

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key finding 2

  Exhibit 03:  Key finding 5

  Exhibit 04:  Key finding 6

  Exhibit 05:  Key finding 7

2. Market Landscape 

  2.1 Market ecosystem 

  2.1.1 Parent market

  Exhibit 06:  Parent market

  Exhibit 07:  Market characteristics

  2.2 Value chain analysis 

  Exhibit 08:  Value chain analysis: Home furnishing

  2.2.1 Inputs

  2.2.2 Inbound logistics

  2.2.3 Operations

  2.2.4 Outbound logistics

  2.2.5 Marketing and sales

  2.2.6 Service

  2.2.7 Support activities

  2.2.8 Innovation

3. Market Sizing 

  3.1 Market definition

  Exhibit 09:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 10:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 - 2026 

  3.4.1 Estimating growth rates for emerging and high-growth markets

  3.4.2 Estimating growth rates for mature markets

  Exhibit 11:  - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 12:  market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 13:  Five forces analysis 2021 and 2026

  4.2 Bargaining power of buyers 

  Exhibit 14:  Bargaining power of buyers

  4.3 Bargaining power of suppliers 

  Exhibit 15:  Bargaining power of suppliers

  4.4 Threat of new entrants 

  Exhibit 16:  Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 17: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 18: Threat of rivalry

  4.7 Market condition

  Exhibit 19:  Market condition - Five forces 2021

5. Market Segmentation by Application 

  5.1 Market segments

  The segments covered in this chapter are:

• Indoor
• Outdoor

  Exhibit 20:  Application - Market share 2021-2026 (%)

  5.2 Comparison by Application 

  Exhibit 21:  Comparison by Application

  5.3 Indoor - Market size and forecast 2021-2026 

  Exhibit 22:  Indoor - Market size and forecast 2021-2026 ($ million)

  Exhibit 23:  Indoor - Year-over-year growth 2021-2026 (%)

  5.4 Outdoor - Market size and forecast 2021-2026 

  Exhibit 24:  Outdoor - Market size and forecast 2021-2026 ($ million)

  Exhibit 25:  Outdoor - Year-over-year growth 2021-2026 (%)

  5.5 Market opportunity by Application 

  Exhibit 26:  Market opportunity by Application

6. Market Segmentation by Type 

  6.1 Market segments

  The segments covered in this chapter are:

• Home furniture
• Home furnishings
• Other home decorative products

  Exhibit 27:  Type - Market share 2021-2026 (%)

  6.2 Comparison by Type 

  Exhibit 28:  Comparison by Type

  6.3 Home furniture - Market size and forecast 2021-2026 

  Exhibit 29:  Home furniture - Market size and forecast 2021-2026 ($ million)

  Exhibit 30:  Home furniture - Year-over-year growth 2021-2026 (%)

  6.4 Home furnishings - Market size and forecast 2021-2026 

  Exhibit 31:  Home furnishings - Market size and forecast 2021-2026 ($ million)

  Exhibit 32:  Home furnishings - Year-over-year growth 2021-2026 (%)

  6.5 Other home decorative products - Market size and forecast 2021-2026 

  Exhibit 33:  Other home decorative products - Market size and forecast 2021-2026 ($ million)

  Exhibit 34:  Other home decorative products - Year-over-year growth 2021-2026 (%)

  6.6 Market opportunity by Type 

  Exhibit 35:  Market opportunity by Type

7. Customer landscape 

  Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

  7.1 Overview

  Exhibit 36:  Customer landscape

8. Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1 Rise in online spending and smartphone penetration

  8.1.2 Benefits of buying home decor products online

  8.1.3 Growing demand for high-end and luxury home furnishings

  8.2 Market challenges 

  8.2.1 Criticality of logistics management leading to high overhead costs

  8.2.2 Strict competition from offline channels

  8.2.3 Long product replacement cycles resulting in infrequent purchases

  8.2.4 Challenge of manual assembly

  Exhibit 37:  Impact of drivers and challenges

  8.3 Market trends 

  8.3.1 Growing demand for eco-friendly home decor items

  8.3.2 Rising popularity of blogs related to interior designing

  8.3.3 Increasing demand for contractual furniture

9. Vendor Landscape 

  9.1 Overview

  Exhibit 38:  Vendor landscape

  9.2 Landscape disruption 

  Exhibit 39:  Landscape disruption

  Exhibit 40:  Industry risks

  9.3 Competitive landscape 

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 41:  Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 42: Market positioning of vendors

  10.3 Amazon.com Inc.

  Exhibit 43:  Amazon.com Inc. - Overview

  Exhibit 44:  Amazon.com Inc. - Business segments

  Exhibit 45:  Amazon.com Inc. - Key offerings

  Exhibit 46:  Amazon.com Inc. – Key news

  Exhibit 47:  Amazon.com Inc. - Segment focus

  10.4 D decor Home Fabrics Pvt. Ltd. 

  Exhibit 48:  D decor Home Fabrics Pvt. Ltd. - Overview

  Exhibit 49:  D decor Home Fabrics Pvt. Ltd. - Product and service

  Exhibit 50:  D decor Home Fabrics Pvt. Ltd. - Key offerings

  10.5 Forte furniture products India Pvt. Ltd. 

  Exhibit 51:  Forte furniture products India Pvt. Ltd. - Overview

  Exhibit 52:  Forte furniture products India Pvt. Ltd. - Product and service

  Exhibit 53:  Forte furniture products India Pvt. Ltd. - Key offerings

  10.6 Pepperfry Pvt. Ltd. 

  Exhibit 54:  Pepperfry Pvt. Ltd. - Overview

  Exhibit 55:  Pepperfry Pvt. Ltd. - Product and service

  Exhibit 56:  Pepperfry Pvt. Ltd. - Key offerings

  10.7 Praxis Home Retail Ltd. 

    Exhibit 57:  Praxis Home Retail Ltd. - Overview

  Exhibit 58:  Praxis Home Retail Ltd. - Product and service

  Exhibit 59:  Praxis Home Retail Ltd. - Key offerings

  10.8 Reliance Industries Ltd. 

  Exhibit 60:  Reliance Industries Ltd. - Overview

  Exhibit 61:  Reliance Industries Ltd. - Business segments

  Exhibit 62:  Reliance Industries Ltd. - Key offerings

  Exhibit 63:  Reliance Industries Ltd. – Key news

  Exhibit 64:  Reliance Industries Ltd. - Segment focus

  10.9 Snapdeal Pvt. Ltd. 

  Exhibit 65:  Snapdeal Pvt. Ltd. - Overview

  Exhibit 66:  Snapdeal Pvt. Ltd. - Product and service

  Exhibit 67:  Snapdeal Pvt. Ltd. - Key offerings

  10.10 Tata Sons Pvt. Ltd. 

  Exhibit 68:  Tata Sons Pvt. Ltd. - Overview

  Exhibit 69:  Tata Sons Pvt. Ltd. - Business segments

  Exhibit 70:  Tata Sons Pvt. Ltd. - Key offerings

  Exhibit 71:  Tata Sons Pvt. Ltd. – Key news

  10.11 The Crafty Angels 

  Exhibit 72:  The Crafty Angels - Overview

  Exhibit 73:  The Crafty Angels - Product and service

  Exhibit 74:  The Crafty Angels - Key offerings

  10.12 Walmart Inc. 

  Exhibit 75:  Walmart Inc. - Overview

  Exhibit 76:  Walmart Inc. - Business segments

  Exhibit 77:  Walmart Inc. - Key offerings

  Exhibit 78:  Walmart Inc. – Key news

  Exhibit 79:  Walmart Inc. - Segment focus

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 80:  Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 81:  Research Methodology

  Exhibit 82:  Validation techniques employed for market sizing

  Exhibit 83:  Information sources

  11.4 List of abbreviations 

  Exhibit 84:  List of abbreviations

About Us
Technavio is a leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio