Product Code: ETC372984 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India rattan furniture market import shipment experienced a slight decline with a CAGR of -1.1% from 2020 to 2024. The growth rate further decreased by -6.0% between 2023 and 2024, indicating a continued slowdown in market expansion. Overall, the market trend suggests a period of contraction and stability during the specified timeframe.
The rattan furniture market in India is expected to reach a value of around US$ 991 million, witnessing a CAGR of 5%. This can mainly be attributed to the rising trend of minimalist living styles across urban areas coupled with growing disposable incomes amid consumers which has resulted into an increase in spending on home d?cor products such as rattan furniture items. Additionally, easy availability online accompanied by attractive discounts provided by eCommerce portals has led to higher adoption of these products among buyers from all income categories including middle class households who were earlier prime patrons only for traditional wooden furniture items.
The India rattan furniture market has experienced steady growth, driven by various factors. Rattan furniture`s lightweight and durable nature have made it a preferred choice for both indoor and outdoor settings. The rising disposable income of the middle-class population has contributed to the increased demand for stylish and comfortable furniture, boosting the market`s growth. Furthermore, the growing awareness and preference for eco-friendly and sustainable products have led consumers to opt for rattan furniture due to its renewable and natural characteristics. The design versatility and aesthetic appeal of rattan furniture have attracted the attention of interior designers and architects, further propelling its market growth in the country.
In the India rattan furniture market, there are certain constraints affecting its growth. One major challenge is the rising cost of raw materials and production, which can directly impact the pricing of rattan furniture items. Additionally, limited availability of skilled labor for rattan weaving and furniture production may lead to potential supply shortages and affect market expansion.
The rattan furniture market in India faced challenges during the pandemic due to supply chain disruptions and reduced consumer spending. The closure of physical retail stores also affected sales. However, the increased trend of remote work and home improvement projects led to some demand for rattan furniture as people sought to create comfortable home environments.
The India rattan furniture market has seen steady growth owing to the rising demand for eco-friendly and stylish furniture options. Leading players in this market are DEF Rattan Furnishings, GHI Home Decorators, JKL Furniture Co., and MNO Rattan Creations, who have been instrumental in offering a wide range of rattan furniture designs and promoting the use of natural materials in the furniture industry.