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INDIA - A POWERHOUSE OF OPPORTUNITIES

Growing Economy  :  7.2% GDP in FY23 - The fastest-growing major economy in the world with GDP expected to double to US$ 7 trillion by 2030.

Urbanisation  :  From 37% of Indians currently residing in cities to ~50% by 2047

Youth Population  :  World's largest Gen-Y population of 808 million youth below 35. With 65% of Indians below the age of 35, and 46.9% below 25, India's young millions are increasing spending on home improvement.

Growing Disposable Income  :  Average household disposable income will grow an average 9.5% annually, from US$ 6,500 in 2022 to US$ 8,300 in 2026 and consumption to US$ 1.8 trillion by 2030.

Real Estate Growth  : In FY23, India's residential property market saw a 48% YoY increase with the value of home sales reaching an all-time high of US$ 42 billion.

THE INDIA FURNITURE + DÉCOR MARKET

India Market Size  :   Valued at US$ 32 billion, India is the 4th largest furniture consuming country and 14th largest furniture market globally growing at 20% p.a.

Growth in Furniture Rentals  :  India's furniture rental industry valued currently at US$ 2 billion is estimated to skyrocket by 2030.

Home Décor  :   The décor category alone is expected to cross US$ 5.62 billion by 2022-23, from US$ 735 million in 2019-20.

E-Commerce Market  :   Indian online home sales (incl. furniture sales) expected to grow 18% p.a. from US$ 2.3 billion in 2020 to US$ 5.2 billion in 2025.

 

 

 

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