Product Code: ETC304164 | 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 RTA furniture market import shipment experienced a significant decline with a CAGR of -41.1% from 2020 to 2024. The growth rate between 2023 and 2024 also decreased by -31.7%. The market showed a consistent pattern of contraction, indicating a sustained slowdown over the period.
The India RTA furniture market is poised for significant growth in the forecast period. Ready-to-assemble (RTA) furniture, also known as flat-pack furniture, offers convenience and cost-effectiveness to consumers. The market growth is driven by the rise in urbanization, the increasing number of small-sized apartments, and changing consumer preferences for flexible and space-saving furniture solutions. Additionally, the growth of the e-commerce industry and the availability of a wide range of RTA furniture options online are expected to boost the market. As consumers seek affordable and easy-to-assemble furniture, the demand for RTA furniture is expected to rise in India.
The India RTA (Ready-to-Assemble) furniture market is expected to witness steady growth, driven by several key drivers. One of the primary drivers is the growing trend of urbanization and the increasing number of small living spaces in urban areas. RTA furniture offers space-saving and easy-to-assemble solutions, catering to the needs of urban dwellers. Moreover, the rise in disposable incomes and changing consumer preferences towards stylish and affordable furniture are driving the demand for RTA furniture. Consumers seek cost-effective and trendy furniture options, which RTA furniture manufacturers can provide. Additionally, the convenience of online shopping and the availability of a wide range of RTA furniture options on e-commerce platforms are propelling the market growth. Consumers can explore and purchase RTA furniture online, facilitating easy and hassle-free home furniture shopping.
The India ready-to-assemble (RTA) furniture market faces certain challenges that may impact its growth prospects. One of the primary challenges is the perception of lower quality associated with some RTA furniture products. Some consumers may prefer fully assembled furniture due to concerns about the sturdiness and durability of RTA furniture.Moreover, the availability of skilled labor for assembling RTA furniture can be a challenge. Consumers may face difficulties in assembling the furniture themselves, leading to potential customer dissatisfaction and returns. Additionally, the price sensitivity of some consumer segments can pose a challenge for the RTA furniture market. Price-conscious buyers may opt for cheaper alternatives, including second-hand or traditional furniture, impacting the demand for RTA furniture.
The India ready-to-assemble (RTA) furniture market is witnessing significant growth as consumers seek convenient and cost-effective furniture solutions. This market`s outlook is driven by factors such as the increasing demand for space-saving and modular furniture, the growth of the e-commerce and home furnishing sectors, and the adoption of RTA furniture for its easy assembly and transportation. Additionally, the development of stylish and customizable RTA furniture designs and the rising focus on sustainable and eco-friendly furniture materials are further contributing to market growth. The market faced some impact during the COVID-19 pandemic due to disruptions in manufacturing and supply chain challenges. However, with the recovery of the furniture industry and the growing demand for home renovation and decor, the market is expected to rebound in the post-pandemic period.
The India RTA furniture market is experiencing growth as consumers seek convenient and affordable furniture solutions. This market`s outlook is driven by factors such as the increasing urbanization and rising disposable incomes, the growth of the real estate and hospitality sectors, and the adoption of RTA furniture for its ease of assembly and space-saving features. Additionally, the development of modern and stylish RTA furniture designs and the rising focus on eco-friendly and sustainable furniture materials are further contributing to market growth. Key players in this market include IKEA India Pvt. Ltd., Godrej Interio, Pepperfry, Nilkamal Limited, and Urban Ladder Home D?cor Solutions Pvt. Ltd.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Rta Furniture Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Rta Furniture Market Revenues & Volume, 2021 & 2031F |
3.3 India Rta Furniture Market - Industry Life Cycle |
3.4 India Rta Furniture Market - Porter's Five Forces |
3.5 India Rta Furniture Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 India Rta Furniture Market Revenues & Volume Share, By Material, 2021 & 2031F |
3.7 India Rta Furniture Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
3.8 India Rta Furniture Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 India Rta Furniture Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing urbanization and growth in real estate sector leading to higher demand for affordable furniture solutions. |
4.2.2 Rising disposable income levels among the middle-class population driving the demand for ready-to-assemble (RTA) furniture. |
4.2.3 Growing popularity of online furniture retail platforms offering a wide range of RTA furniture options. |
4.3 Market Restraints |
4.3.1 Lack of awareness regarding the benefits and quality of RTA furniture among traditional furniture buyers. |
4.3.2 Challenges in maintaining quality standards and consistency in RTA furniture manufacturing processes. |
4.3.3 Price competitiveness from traditional furniture manufacturers impacting the market growth. |
5 India Rta Furniture Market Trends |
6 India Rta Furniture Market, By Types |
6.1 India Rta Furniture Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 India Rta Furniture Market Revenues & Volume, By Product, 2021-2031F |
6.1.3 India Rta Furniture Market Revenues & Volume, By Tables, 2021-2031F |
6.1.4 India Rta Furniture Market Revenues & Volume, By Chairs and Sofas, 2021-2031F |
6.1.5 India Rta Furniture Market Revenues & Volume, By Storage, 2021-2031F |
6.1.6 India Rta Furniture Market Revenues & Volume, By Beds, 2021-2031F |
6.1.7 India Rta Furniture Market Revenues & Volume, By Others, 2021-2031F |
6.2 India Rta Furniture Market, By Material |
6.2.1 Overview and Analysis |
6.2.2 India Rta Furniture Market Revenues & Volume, By Wood, 2021-2031F |
6.2.3 India Rta Furniture Market Revenues & Volume, By Glass, 2021-2031F |
6.2.4 India Rta Furniture Market Revenues & Volume, By Steel, 2021-2031F |
6.2.5 India Rta Furniture Market Revenues & Volume, By Others, 2021-2031F |
6.3 India Rta Furniture Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 India Rta Furniture Market Revenues & Volume, By Specialty Stores, 2021-2031F |
6.3.3 India Rta Furniture Market Revenues & Volume, By Flagship Stores, 2021-2031F |
6.3.4 India Rta Furniture Market Revenues & Volume, By Home Centers, 2021-2031F |
6.3.5 India Rta Furniture Market Revenues & Volume, By Online Stores, 2021-2031F |
6.3.6 India Rta Furniture Market Revenues & Volume, By Others, 2021-2031F |
6.4 India Rta Furniture Market, By End User |
6.4.1 Overview and Analysis |
6.4.2 India Rta Furniture Market Revenues & Volume, By Residential, 2021-2031F |
6.4.3 India Rta Furniture Market Revenues & Volume, By Commercial, 2021-2031F |
7 India Rta Furniture Market Import-Export Trade Statistics |
7.1 India Rta Furniture Market Export to Major Countries |
7.2 India Rta Furniture Market Imports from Major Countries |
8 India Rta Furniture Market Key Performance Indicators |
8.1 Customer satisfaction score for RTA furniture products. |
8.2 Percentage increase in online search volume for RTA furniture keywords. |
8.3 Rate of return or exchange of RTA furniture due to quality issues. |
8.4 Adoption rate of eco-friendly materials in RTA furniture manufacturing. |
8.5 Number of new entrants or collaborations in the Indian RTA furniture market. |
9 India Rta Furniture Market - Opportunity Assessment |
9.1 India Rta Furniture Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 India Rta Furniture Market Opportunity Assessment, By Material, 2021 & 2031F |
9.3 India Rta Furniture Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
9.4 India Rta Furniture Market Opportunity Assessment, By End User, 2021 & 2031F |
10 India Rta Furniture Market - Competitive Landscape |
10.1 India Rta Furniture Market Revenue Share, By Companies, 2024 |
10.2 India Rta Furniture Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |