India Home and Living market was estimated at INR XX in 2021 and is forecast to reach a market value of INR XX by 2032, growing at a CAGR of XX%.
Home & Living allows a consumer to showcase the lifestyle they believe in. Home & living products are used in decorating an apartment or a house with a variety of accessories and furnishings to provide the building with a more aesthetic and pleasant appearance. The Home and living items include lamps, textiles, ports, furniture, floor coverings, candles, furnishing items, artifacts, and more. In India, the Home and Living market is growing due to the growing urbanization and the increasing desire of consumers to decorate their homes.
Growth & Trends in Indian Home & Living Market
An increase in the affluent population has catalyzed the growth of the Home and Living Market in India. Consumers prefer eco-friendly products, nowadays. The rise in disposable income of consumers in developed, as well as developing countries, significantly contributes to the growth of the Indian home and living market. Advertising agencies promoting aggressive home and living ads and celebrity endorsements have attracted a large population to this market. The demand for unique and trending furniture is therefore creating plenty of opportunities for the home and living market in India. Market growth, however, is hindered by the low availability of premium products and fluctuations in the prices of raw materials. Especially when it comes to smaller spaces, consumers have been looking for technology drives and furniture.
Nowadays, consumers are opting for the home renovation services after a specific time of the construction to renovate their homes which increases the demand for various home and living products such as decorative lighting, flooring, and new design furniture. However, the COVID-19 outbreak changed the dynamics of the home and living market in India. The product supply chains were disrupted massively in 2020 which hampered the overall market growth. However, the market managed to be highly active with the support of online distribution channels. Consumers started ordering small home and living products through e-commerce websites when the lockdown was imposed, which lifted the market revenue steadily. Online distribution channels are gaining more popularity in India owing to the inclination of consumers towards buying luxurious and stylish home decor products which are budget-friendly.
Current Scenario of Home & Living Market in India
Particularly in the last decade, Indian Home & Living Market has experienced tremendous growth. Even so, India is still in the nascent stages as compared to any advanced country. A majority of the revenue of the market comes from accent furnishing items. A market share of 75 % is held by small furniture and 25% by large furniture. Despite the unorganized nature of the Indian furniture market, companies such as Godrej Interio and Zuari Furniture are keen on catering to the mounting demand for brand-name furniture in the country. Welspun India, Alok Industries, Trident Limited, Bombay Dyeing, Himatsingka, Siyaram, and Ddécor are some other leading companies driving the market growth through the furniture segment.
Increasing Market Revenue through Government Assistance
The government recently announced its Production Linked Incentive (PLI) scheme for the textile industry in March 2020. In the next five years, this scheme will generate investments of over Rs. 19,000 crore and a turnover of over Rs. 3 lakh crores. Home & living will certainly benefit from large investments, as global demand will rise. As retail is shifting towards digital channels, so small home & living businesses are digitizing all their sales and supply, whether B2C or B2B, allowing them to access a larger market (both supply and demand). B2B platforms facilitate end-to-end ordering from storefront to doorstep delivery. As the home & living industry is in the midst of a boom, this can help SMEs significantly expand their business.
Years considered for this report
• Historical Years: Available on Request
• Base Year: 2021
• Forecast Period: 2022-2032
India Home And Living Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for application Industries (2022 – 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2022 - 2032)
• Barware
• Dining & Plates
• Cups/Mugs
• Glassware
• Storage/Serve/Flatware
• Kitchenware
• Wall Art
• Clocks
• Arti crafts - Excluding Wall Arts
• Table Planters
• Accent Furniture
• Cushions & Pillows
• Pouffes & Floor Cushions
• Lighting
Application Analysis (Revenue, USD Million, 2022 - 2032)
• Indoor
• Outdoor
Price (INR) Analysis (Revenue, USD Million, 2022 - 2032)
• Up to 1000
• 1001 - 2000
• 2001 - 4000
• 4000+
Sales Channel Analysis (Revenue, USD Million, 2022 - 2032)
• Offline Retail [Franchised Store, and Other Stores]
• Online Retail [Manufacturer Website, and E-Commerce Website]
Regional Analysis (Revenue, USD Million, 2022 - 2032)
• North Zone
• East Zone
• West Zone
• South Zone
• Central Zone
• North-East Zone
India Home & Living Market Companies:
• Amazon.com Inc.
• D decor Home Fabrics Pvt. Ltd.
• Forte furniture products India, Pvt. Ltd.
• Pepperfry Pvt. Ltd.
• Praxis Home Retail Ltd.
• Reliance Industries Ltd.
• Good Living India
• Tata Sons Pvt. Ltd.
• The Crafty Angels
• Others
Alternative Market Terms: Home Improvement Market
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