- China and India are becoming major players in the global furniture market.
- The furniture market in India is likely to develop at a rate faster than 8% by 2028.
- China’s manufacturing models are factory-centric and large-scale.
China and India are becoming major players in the global furniture market; the former’s market is expected to grow at a compound annual growth rate (CAGR) of 2.9% from $540.4 billion in 2023 to $623.8 billion by 2028. With a projected value of Rs 90,000 crore in 2023, the furniture market in India is likely to develop at a rate faster than 8% by 2028.
Furniture design is greatly influenced by cultural factors. For example, China emphasizes harmony and balance through the use of feng shui concepts and uses sturdy, clean-lined wood as well as natural materials like bamboo.
Furniture industries
Conversely, Indian furniture features vivid colors, detailed carvings, and a variety of materials, all of which are inspired by the country’s rich cultural tapestry. Both countries are seeing a trend toward contemporary, minimalist architecture.
China’s manufacturing models are factory-centric and large-scale, but India’s manufacturing landscape is made up of skilled artisans and small and medium-sized businesses, which may constrain production capacity but nurture craftsmanship. Through the exchange of best practices, India can improve quality and efficiency without sacrificing either.
Additionally, both nations stand to gain from leveraging one another’s advantages and encouraging a culture of innovation and learning. They may leave more lasting effects on the world stage by utilizing one another’s skills and encouraging a culture of innovation and learning. This will help to shape a future in which diversity, creativity, and teamwork will characterize the furniture business.
