Wood Industry in India Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


India Wood Industry Analysis:

The furniture market in India is currently dominated by wooden furniture. There has been a significant increase in the demand for wooden furniture in recent years. India is blessed with abundant natural resources, including various tree species, which are utilized by the wooden furniture industry. Both indigenous and imported wood are used in the production of furniture. In fact, India is one of the largest importers of timber globally. However, despite the growing demand, the furniture sector in India only contributes marginally to the country’s Gross Domestic Product (GDP), accounting for approximately 0.5%.

The popularity of traditional furniture has played a crucial role in driving the demand for wood-based furniture. The Indian furniture industry primarily relies on popular types of wood such as teak, sandalwood, ebony, walnut, sal, red cedar, and rosewood. To keep up with the rapidly changing furniture market, the industry is transitioning from an unorganized sector to an organized one. Key states for the wooden furniture market in India include Kerala, Punjab, Andhra Pradesh, West Bengal, Uttar Pradesh, and West Bengal.

Technological advancements, such as the widespread availability of smart gadgets and high-speed 4G networks, have contributed to the rising popularity of online distribution channels for furniture purchases in India. The increasing urbanization and growth of nuclear families have further fueled the demand for wooden furniture products. Changing lifestyles and preferences for different types of wood furniture have also contributed to the growth of the wooden furniture industry.

In addition to traditional wooden furniture, engineered wood furniture products are gaining popularity in Indian cities. This is primarily due to the rising demand for ready-to-assemble furniture in urban areas. Furthermore, the convenience of purchasing furniture from e-commerce platforms has encouraged the growth of modular and multifunctional furniture for home decoration purposes. However, it is worth noting that leather and glass furniture are emerging as lucrative segments in the furniture market, which may pose a challenge to the growth of wooden furniture in India.

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