Enjoy complimentary customisation on priority with our Enterprise License!
Report on How AI is Driving Market TransformationThe India online home decor market size is estimated to grow by USD 4.78 billion at a CAGR of 10.79% between 2023 and 2028. The market is driven by several factors, including the rise in online spending and smartphone penetration, the benefits of purchasing home decor products online, and the growing demand for high-end and luxury home furnishings. Increasing online spending and widespread smartphone use make it easier for consumers to browse and buy items conveniently from anywhere. Online shopping offers numerous advantages, such as a wider selection, competitive pricing, and the ease of comparing products. Additionally, there is a rising interest in high-end and luxury home furnishings, as consumers seek to enhance their living spaces with premium quality and stylish designs. These trends collectively fuel the growth of the market.
For More Highlights About this Report, Download Free Sample in a Minute
The market in India is a thriving sector, encompassing a wide range of products such as Indoor sub-categories, Smartphones, Social Media, Interior Design, and more. This market includes Online Sales Platforms that offer Bedroom Furniture, Carpets and Rugs, Bed and Linen, Home Textiles, and Floor Coverings. Festivals and celebrations serve as opportune times for consumers to enhance their personal style with decorative items like ornamentation, furniture, lighting, textiles, wall art, and other Premium and Mas Specialty Stores offerings. Social media platforms have become integral to marketing and purchasing these decorative items, making e-commerce a preferred choice for many Indian consumers. The Home Textile and Floor Covering industries continue to be significant contributors to this market, with a focus on providing high-quality and innovative products to meet the diverse needs and preferences of consumers. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in online spending and smartphone penetration is the key factor driving market growth. The indoor sub-category of the online market has experienced significant growth due to the widespread use of the Internet and smartphones. Social media platforms have further fueled this trend, as interior design inspiration and ideas are easily accessible and shareable. Online sales platforms offer a vast selection of bedroom furniture, carpets and rugs, bed and linen, lighting, and other decorative items, providing consumers with essential product information such as quality, safety measures, and user guidance. Fast-growing segments of the market include ornamentation, furniture, textiles, wall art, and accessories, catering to personal style preferences and the desire for aesthetically pleasing atmospheres.
Homeowners today aspire to craft inviting living spaces characterized by the right blend of colors, patterns, textures, and design aesthetics, often influenced by cultural festivals and celebrations. The trend towards urbanization and smaller living spaces has spurred a demand for space-saving, multifunctional furniture solutions. In India, the burgeoning middle-class population, coupled with increasing disposable incomes, represents a substantial consumer base driving the home decor market. Hence, such factors are driving the market during the forecast period.
The rising popularity of blogs related to interior design is the primary trend shaping market growth. Customers spend more on designer and unique furnishing products, including curtains, cushion covers, tables, cupboards, beds, and floor coverings in India. The rising income of consumers and the increasing penetration of social media have increased the inclination of consumers toward interior designing and unique designer home-improvement products.
Furthermore, online sales platforms play a significant role in generating consumer interest in interior design. The rising popularity of interior designing blogs will fuel the demand for trendy home furnishings, which will increase the demand. Hence, such factors will drive the growth of the market during the forecast period.
Long product replacement cycles resulting in infrequent purchases is a challenge that affects market growth. The latest design trends play a vital role in determining customers' investment decisions for residential indoor furnishing. However, furniture is not meant for frequent changes as it lasts long. Most furniture products are expensive and considered one-time investments. Hence, after the first purchase, customers do not feel the need for frequent replacement.
In addition, branded home decor items are durable and reliable as they are mainly offered in superior quality. For such products, consumers need to incur only maintenance and cleaning costs over the years to improve their lifespan and retain their usability. This results in infrequent purchases, and it acts as a limitation to the growth of the market. Consequently, the long replacement cycles of home decor products affect volume sales, which may impede the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The indoor segment is estimated to witness significant growth during the forecast period. The indoor sub-category of the market is witnessing significant growth, driven by the widespread use of smartphones and social media. Interior Design trends are frequently shared and discovered on platforms like Instagram and Pinterest, inspiring homeowners to enhance their living spaces with decorative items such as bedroom furniture, carpets and rugs, bed and linen, lighting, and wall art.
Get a glance at the market contribution of various segments Download the PDF Sample
The indoor segment was the largest segment and was valued at USD 4.04 billion in 2018. Online Sales Platforms have become a preferred choice for urban consumers, especially those living in apartments and smaller homes, seeking space-saving, multifunctional furniture and aesthetically pleasing ornamentation. The bedroom furniture market is a fast-growing segment, with innovations like flat-pack and ready-to-assemble (RTA) options making mass production viable. Middle-class population growth and the desire for personal style and atmospheric improvements contribute to higher profit margins for vendors. However, the market remains fragmented, with local craft-based firms coexisting alongside mass-producing companies. Carpets and rugs, bed and linen, and lighting are other significant sub-categories, with festivals and celebrations driving seasonal demand. The market for decorative accessories and textiles is also expanding, as consumers seek to express their design sensibilities through colors, patterns, and textures. The Indian consumer base is increasingly drawn to contemporary and modern styles, reflecting the influence of urbanization and e-commerce on home decor trends. Hence, such factors will lead to the growth of the market during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Online Home Decor Market: Online Home Decor Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, UK, Germany - Size and Forecast
Home Decor Market: Home Decor Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, India, UK, Germany - Size and Forecast
Online Furniture Market: Online Furniture Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, UK, Germany - Size and Forecast
The market in India has been experiencing significant growth in recent years. With the increasing trend of online shopping and the availability of a wide range of options, consumers are now able to purchase home decor items effortlessly. The market is driven by various factors such as increasing disposable income, urbanization, and the growing preference for personalized and unique home decor. Homeowners and renters alike are investing in decorative items to enhance the aesthetic appeal of their living spaces. The market caters to various segments including furniture, home textiles, wall art, and home accessories. The use of technology has also played a crucial role in the growth of the market in India. Websites and mobile applications offer features such as virtual room planning, customization options, and easy payment methods, making the shopping experience more convenient.
Furthermore, the market is expected to continue its growth trajectory in the coming years, with an increasing number of players entering the market and offering innovative products and services. The competition is fierce, and players are focusing on providing unique and personalized offerings to differentiate themselves from the competition. Overall, the market in India presents a vast opportunity for both local and international players. The slow-growing segments of the furniture and home furnishings stores industry are adapting to the rising popularity of DIY culture, creating atmospheres that cater to space-saving solutions and fashionable trends while also expanding their reach through e-commerce platforms, aligning with shifts in the real estate sector and evolving preferences in home ownership and property investments, particularly in flooring, wall decor, home decor stores, online platforms, and gift shops
Market Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.79% |
Market Growth 2024-2028 |
USD 4. 78 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.25 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product Type
8 Market Segmentation by Price
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
With the growing adoption of AI across industries, Technavio has analyzed its impact on India Online Home Decor market driven by the increasing adoption of e-commerce, changing consumer preferences, and the impact of AI technologies. AI is transforming this sector by enhancing customer experiences, streamlining operations, and enabling data-driven decisions. This analysis delves into AI's impact on the India Online Home Decor market, backed by data and real-world examples.
These insights, available exclusively through Technavio, provide an unparalleled significant impact of AI on the India Online Home Decor market, backed by real-world examples and data.
The report provides details of AI's impact on various segment
Boosting Customer Loyalty and Retention
Learn more about how AI is transforming India Online Home Decor Market - Buy Full Report Now
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.