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The India - online home decor market size is estimated to grow at a CAGR of 10.79% between 2023 and 2028. The market size is forecast to increase by USD 4.78 billion.The market is categorized based on Application, Product Type, and Price. Within the Application Segment, the Indoor sub-category represented the largest value, amounting to 4.04 billion in 2018.Consumer interest in indoor home decor has surged due to evolving trends favoring creative decor and furniture, including the demand for foldable furniture for storage convenience. There's also a growing preference for luxurious bathroom and bedroom furnishings, reflecting the influence of Western lifestyle culture. These factors are set to drive growth in India's online home decor market for indoor spaces.
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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. With the growing number of internet users, an improving economy, and increased opportunities for purchase and delivery with mobile commerce, online shopping via smart devices has gained popularity in recent years. In addition, security features for online payments, free delivery, improved online customer services, and the customer-friendly designs of online shopping websites are also contributing to the growth of the market.
Moreover, the increasing emphasis on mobile commerce is mainly driven by the purchase of millions of new smartphones and the creation of more opportunities for buyers to shop. A few major retailers, such as Amazon, Snapdeal, Flipkart, and Alibaba, have their own mobile applications. Thus, the rising Internet penetration and online spending will boost the online home decor market 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 home 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 for home furnishings. 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 India - online home decor 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.
India Online Home Decor 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. Indoor application refers to spaces within a home that are enclosed, such as a bedroom, living room, bathroom, kitchen, and other covered areas. Consumers have been motivated to invest in these products as trends toward creative and inventive decor and furniture have shifted.
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The indoor segment was the largest segment and was valued at USD 4.04 billion in 2018. The online home decor market includes bedroom furniture, carpets and rugs, bed, and linen, etc. The bedroom furniture market segment is highly fragmented and labour-intensive. Furthermore, boosted experimentation with various types of lighting to decorate the living room space has earned growing market demand. Hence, such factors will lead to the growth of the indoor India-online home decor market during the forecast period.
The India online home decor market analysis report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
India Online Home Decor 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 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 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
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