India: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in India

In 2022, the Indian market for furnishing articles, furniture and cushion covers decreased by X% to $X, falling for the second consecutive year after four years of growth. Overall, consumption, however, showed a relatively flat trend pattern. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Furnishing Articles, Furniture and Cushion Covers in India

In value terms, production of furnishing articles, furniture and cushion covers totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production of attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports from India

In 2022, overseas shipments of furnishing articles, furniture and cushion covers increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, exports of furnishing articles, furniture and cushion covers shrank to $X in 2022. In general, exports saw a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of furnishing articles, furniture and cushion covers from India, accounting for a X% share of total exports. Moreover, exports of furnishing articles, furniture and cushion covers to the United States exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for furnishing articles, furniture and cushion covers exports from India, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

Export Prices by Country

The average export price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped markedly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per ton) and the United States ($X per ton), while the average price for exports to Italy ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports into India

In 2022, imports of furnishing articles, furniture and cushion covers into India surged to X tons, rising by X% on 2021. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers skyrocketed to $X in 2022. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest furnishing article, furniture and cushion cover supplier to India, accounting for a X% share of total imports. Moreover, imports of furnishing articles, furniture and cushion covers from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of furnishing articles, furniture and cushion covers to India, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average import price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :