Product Code: ETC372684 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The plastic furniture market import shipment into India showed robust growth from 2020 to 2024, with a notable CAGR of 28.2%. The growth rate between 2023 and 2024 slightly moderated to 9.1%, indicating a steady expansion trajectory with strong momentum over the period.
The plastic furniture sector in India was valued at US$ 3 billion and is expected to witness robust growth during the forecast period. Growing preference for lightweight materials such as plastic owing to their low cost compared with traditional materials like wood or metal will drive revenue generation for this segment over the coming years. Furthermore, increased product innovation coupled with rapid urbanization will further propel industry expansion over the next few years.
The India plastic furniture market has witnessed growth due to its cost-effectiveness, lightweight nature, and easy maintenance. The affordability of plastic furniture appeals to a wide consumer base, especially in urban and semi-urban areas, propelling the market`s growth.
The plastic furniture market has grown due to its cost-effectiveness and lightweight characteristics. Nonetheless, environmental sustainability remains a significant challenge for the industry, as the improper disposal of plastic furniture can contribute to plastic waste pollution, which is a pressing issue in India.
The plastic furniture market in India faced a dual impact during the pandemic. While there was a surge in demand for affordable furniture due to budget constraints, the disruptions in manufacturing and supply chain affected the production and distribution of plastic furniture. This resulted in fluctuations in market performance.
In the India plastic furniture market, significant key players include Supreme Industries Limited, Nilkamal Limited, Cello Group, and Wipro Enterprises Pvt Ltd (Wipro Furniture).