NEW
YORK, Sept. 13, 2024 /PRNewswire/ -- Report on
how AI is driving market transformation- The global online home
decor market in India size
is estimated to grow by USD 4.78
billion from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of 10.79% during the
forecast period. Rise in online spending and smartphone
penetration is driving market growth, with a trend
towards growing demand for eco-friendly home decor items.
However, criticality of logistics management leading to high
overhead costs poses a challenge. Key market players include
Amazon.com Inc., Century Furniture LLC, Chumbak Design Pvt. Ltd, D
decor, Elvy Lifestyle Pvt. Ltd., Fabindia Overseas Pvt. Ltd., Forbo
Management SA, Godrej Consumer Products Ltd., Golden Leaf, Inter IKEA Holding BV, Mohawk
Industries Inc., MyStyle Label Creation Pvt. Ltd., Pepperfry Pvt.
Ltd., Praxis Home Retail Ltd., Reliance Industries Ltd., Secret
Label India Apparels LLP, Shivalik Metaplast Industries, The Crafty
Angels, Wooden Street, and Yellow Verandah.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Indoor and
Outdoor), Product Type (Home furniture, Home furnishings, and Other
home decorative products), Price (Mass and Premium), and Geography
(APAC)
|
Region
Covered
|
India
|
Key companies
profiled
|
Amazon.com Inc.,
Century Furniture LLC, Chumbak Design Pvt. Ltd, D decor, Elvy
Lifestyle Pvt. Ltd., Fabindia Overseas Pvt. Ltd., Forbo Management
SA, Godrej Consumer Products Ltd., Golden Leaf, Inter IKEA Holding
BV, Mohawk Industries Inc., MyStyle Label Creation Pvt. Ltd.,
Pepperfry Pvt. Ltd., Praxis Home Retail Ltd., Reliance Industries
Ltd., Secret Label India Apparels LLP, Shivalik Metaplast
Industries, The Crafty Angels, Wooden Street, and Yellow
Verandah
|
Key Market Trends Fueling Growth
The online home decor market in India is witnessing a shift towards
eco-friendly products due to rising environmental concerns and
stricter regulations. Brands are responding by offering sustainably
made furniture and other home decor items. For instance, threaded
provides eco-friendly bedding and linens in fabric bags, while
Chairish Inc. Specializes in reselling vintage items, reducing the
need for new production. Legal agencies like the Forest Stewardship
Council (FSC) and the Sustainable Furnishing Council (SFC) support
vendors in sourcing sustainable materials and manufacturing
methods. FSC offers a database of compliant wood suppliers, while
SFC encourages reduced carbon emissions and waste stream
pollutants. These initiatives are positively impacting the online
home decor market in India, making
it a growing and sustainable sector.
The Online Home Decor market in India is booming, with Indoor sub-categories
like Bedroom Furniture, Carpets and Rugs, Bed and Linen, Lighting,
Wall Art, Accessories, and Decorative Items witnessing significant
growth. Smartphones and Social Media platforms like Instagram and
Pinterest are driving sales, allowing homeowners to browse and
purchase aesthetically pleasing furniture, textiles, and
ornamentation from the comfort of their homes. Fast-growing
segments include multifunctional furniture for urban apartments and
smaller homes, catering to the middle-class population's
space-saving needs. E-commerce platforms are revolutionizing the
real estate sector, making home ownership more accessible.
Festivals and celebrations continue to inspire unique decor
choices, with contemporary and modern designs remaining
fashionable. Online Sales Platforms are the new go-to for Indian
consumers seeking to enhance their personal style and create an
atmosphere filled with colors, patterns, and textures that reflect
their design sensibilities.
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Market Challenges
- Inefficiencies in logistics management, including inadequate
delivery addresses and complex logistical issues, pose significant
challenges for India's online home
decor market. These problems increase overhead costs and erode
profit margins. The absence of standard delivery services also
damages brand reputation and customer trust. To mitigate these
issues, online retailers hire additional field workers, adding to
labor costs. Instead, retailers should collaborate with reputable
third-party logistics providers to streamline product distribution,
reducing labor expenses and maintaining profitability. Effective
logistics management is crucial to prevent profit margin decline
and ensure market growth.
- The online home decor market in India is witnessing significant growth, with
popular categories including ornamentation, furniture, textiles,
wall art, accessories, and decorative items. Urbanization and the
rise of smaller apartments have created a demand for space-saving,
multifunctional furniture. The middle-class population's increasing
home ownership and property investments have fueled this trend.
Social media platforms like Instagram and Pinterest inspire
homeowners to create aesthetically pleasing atmospheres using
colors, patterns, and textures that reflect their personal style.
E-commerce platforms have made it easier for Indian consumers to
shop for contemporary, modern, and fashionable home decor items
online. Home Furniture, Home Textiles, Flooring, Wall Decor, Home
Decor Stores, Online Store, Gift Shops, Home Textile, and Floor
Covering cater to both premium and mass markets, offering a wide
range of specialty stores for specific decor sensibilities.
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driving growth- Download a Sample Report
Segment Overview
This online home decor market in India report extensively covers market
segmentation by
- Application
- Product Type
- 2.1 Home furniture
- 2.2 Home furnishings
- 2.3 Other home decorative products
- Price
- Geography
1.1 Indoor- The online home decor market in
India includes segments such as
bedroom furniture, carpets and rugs, bed and linen, and upholstery.
The bedroom furniture market is highly fragmented with a mix of
local craft-based firms and mass producers. Flat-pack and
ready-to-assemble (RTA) furniture have made mass production viable,
with companies catering to the medium-priced segment. The
children's bedroom furniture segment shows significant growth
potential. Indoor home decor, including bedrooms, living rooms,
bathrooms, and kitchens, has gained popularity due to shifting
trends towards creative decor and furniture. Foldable furniture,
which offers ease of storage and convenience, is in demand due to
the preference for small products. In the carpets and rugs segment,
consumer interest in interior design and eco-friendly products is
driving growth. The increasing adoption of virtual reality for
sales and the rise in carpet tile usage are further market drivers.
Upholstery has significant potential in indoor home decor, with
consumers seeking luxury products for bathrooms and bedrooms. The
acceptance of Western lifestyle and experimentation with various
types of lighting are also boosting market demand. These factors
will contribute to the growth of the indoor online home decor
market in India during the
forecast period.
Download complimentary Sample Report to
gain insights into AI's impact on market dynamics, emerging trends,
and future opportunities- including forecast (2024-2028) and
historic data (2018 - 2022)
Research Analysis
The Online Home Decor Market in India is witnessing significant growth, with
Indoor sub-categories such as furniture, lighting, textiles, wall
art, carpets and rugs, and bed and linen seeing high demand.
Smartphones and Social Media are driving this trend, as consumers
turn to digital platforms for inspiration and purchasing. Interior
Design ideas are easily accessible, with numerous blogs and
influencers sharing tips and trends. Online Sales Platforms like
Amazon, Flipkart, and Pepperfry have made shopping for home decor
convenient and affordable. Festivals and celebrations are also a
major factor, with specialty stores offering Mas and Premium
decorative items for Diwali and other occasions. Home Textiles and
Floor Coverings are popular categories, with a focus on personal
style and ornamentation. E-commerce and social media platforms
continue to innovate, offering customizable options and
personalized recommendations.
Market Research Overview
The Online Home Decor market in India is witnessing significant growth,
especially in the Indoor sub-category. With the increasing
urbanization and smaller living spaces, there is a growth in demand
for space-saving, multifunctional furniture and decorative items.
Indian consumers are increasingly turning to e-commerce platforms
and social media platforms like Instagram and Pinterest for
inspiration and purchases. Fast-growing segments include Bedroom
Furniture, Carpets and Rugs, Bed and Linen, Lighting, and Wall Art.
Festivals and celebrations continue to influence home decor
choices, with ornamentation and textiles being popular. The real
estate sector's growth and increasing home ownership and property
investments have fueled the demand for premium home decor.
Middle-class population's desire for aesthetically pleasing and
contemporary home decor is driving the market. Online Sales
Platforms, Home Furniture, Home Textiles, Flooring, and Wall Decor
are some of the key categories. Slow-growing segments include
Specialty Stores, Gift Shops, and Home Textile Floor Covering. The
market is expected to continue growing as personal style and home
atmosphere become increasingly important to homeowners. Colors,
patterns, textures, and design sensibilities continue to evolve,
reflecting modern and fashionable trends.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Product Type
-
- Home Furniture
- Home Furnishings
- Other Home Decorative Products
- Price
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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