Wood Furniture Market in India – Growth, Trends, Impact of COVID-19 and Forecast (2021)
The wooden furniture market dominates the furniture market in India. The demand for wooden furniture has multiplied in India. India thrives in the natural resources of several species of trees, and the wooden furniture industry uses both indigenous and imported wood.
New York, July 20. Feb. 2, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “India Wooden Furniture Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” – https://www.reportlinker. com/p06106049/?utm_source=GNW
India is one of the largest timber importers in the world. However, the furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), which is around 0.5%.
The popularity of traditional furniture has led to an increase in demand for wooden furniture in recent years. Popular types of wood used in the Indian furniture industry are teak, sandalwood, ebony, walnut, sal, red cedar and rosewood. The furniture market in India is shifting from the unorganized sector to the organized industry to adapt to the rapid changes in the furniture market. The critical states for the wooden furniture market in India are Kerala, Punjab, Andhra Pradesh, West Bengal, Uttar Pradesh and West Bengal.
With advancements in technology, such as access to smart gadgets and the availability of high-speed 4G networks, the online distribution channel is gaining popularity for buying furniture in the country. Urbanization and growing number of nuclear families in India are further adding to the demand for wooden furniture products. Changing lifestyles, tastes and preferences for different types of wooden furniture are accelerating the growth of the wooden furniture industry.
Engineered wood furniture is also gaining popularity in Indian cities. The main reason for this is the increase in demand for ready-to-assemble furniture in cities. Moreover, the ease of shopping from the e-commerce platform is also encouraging the growth of modular and multi-functional furniture in the home decor and convenience market. Leather and glass furniture are growing as lucrative segments for furniture choices among the population, which may restrain the growth of wooden furniture in India.
The COVID-19 pandemic has led to a temporary shutdown of furniture manufacturing activity in the country, but due to the increased time customers are spending at home due to the lockdown and staying home to stay safe, the demand for wooden furniture has increased in the country. With the increase in working from home for employees and learning from home practices for students, the demand for study tables, work tables and home office setups has helped the market to generate revenue increased in the market.
Main market trends
Rising demand from the residential sector drives the market
The demand for wooden furniture in the Indian market is mainly driven by the residential sector due to the customer’s interest in using wooden furniture in homes for many purposes such as wardrobes, living room furniture and interior decoration. This increases the need for wooden furniture such as sofa sets, dining sets, beds, chairs which are also expected to grow prolifically in the coming years. Apart from this, the demand for engineered wood furniture is also increasing in metropolitan cities, such as Delhi, Bangalore, Mumbai and other major cities. The residential real estate market is also witnessing a prolific growth over the past two years, owing to the increase in population and growing demand for affordable housing, which is expected to further increase the demand for wooden furniture in the market. market.
Plywood forms a major share of the wooden furniture market in India
Plywood is the most preferred wood for making furniture in India. This is a wood panel made from thin sheets of wood veneer. Plywood is durable so it is widely used for any wood furniture/panel application in Indian wood furniture market. However, bamboo material panels and veneered panels are also becoming popular in the Indian wood furniture market for making furniture. Greenply and Century ply dominate the organized plywood market in India. other players in the market are Sarda Plywood, Archid Ply, Uniply, etc.
The wooden furniture market in India is competitive due to the presence of a large number of small local manufacturers in the market, accounting for a larger share of production. South and North India have a high demand for furniture products, but the South is where most of the manufacturers and distribution networks are located. The demand for kiln-dried hardwood lumber exported from the United States has increased among importers and manufacturers in the market.
The Indian wooden furniture market offers huge opportunities for manufacturers to innovate and meet the growing demand in the wooden furniture market. Local manufacturers are partnering with foreign manufacturers to improve their quality and designs in the market. The need for modular furniture presents immense opportunities for owners of wood furniture and hardware in the market. Furniture manufacturers consider several factors when designing furniture, such as the functionality, look, feel, and value of furniture when designing furniture.
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