Growing quotient of luxury in the home furnishing segment
By 2018 Home Furnishing market in India is anticipated to grow at CAGR of 8% & during the same period curtains - upholstery & rugs - carpets will grow too at CAGR of 8% & 9.4% respectively.BY Guest author | Feb 09, 2017 | comments ( 0 ) |
A run of steps down to early 80’s & 90’s when interior decorators were not that much of a game for middle grade; my mom being one I have seen her mostly occupied with top restaurant business segment or the elite group. When a Porsche cayenne, a fine dining experience at a 5 star, a shopping trip to Dubai, a Tissot wrist watch or an ultra – luxury abode were awe inspiring acquisitions reserved for high class companionship.
Backward to the future, where I am wearing a Tissot myself and a proud owner of a home in one of the pool location of Delhi, deck up with a British Style Interior & a three door cupboard for my wearables.
Welcome to the era where we discover the luxury home décor market is projected to have a compound annual increase rate of 4.1 % for the succeeding 5 years, reaching $27.01 billion by 2020 according to a new report by Allied Market Research. In go with the overall market size of Home Furnishing garner to $664.0 billion by 2020, registering a CAGR of 4.2% during the forecast period 2015-2020. While Europe is the biggest market, the APAC region is expected to experience the most growth due to high disposable incomes. Rapidly increasing disposable incomes in hand, much greater international exposure through travel & media and a vast population of billions, India is today a global marketer’s dream destination for high end modular kitchen, to beautiful designer chandelier’s, home furnishing is gaining increased adoption in urban regions.
According to India, Home Furnishing Market forecast & opportunities 2018, with the increasing textile industry in the state, the furnishing market will continue to flourish. By 2018 Home Furnishing market in India is anticipated to grow at CAGR of 8% & during the same period curtains - upholstery & rugs - carpets will grow too at CAGR of 8% & 9.4% respectively.
The rising import of home décor has led to consumers seeking unique, designer home furnishings. Consumers are also opting for luxury office home furnishing products to give a sophisticated & a classy feel to their home workplace. Furniture, textiles, floor covering products are a key part of home décor & globalization facilitates these trends easier with wider accessibility of home décor products & millions of designs for consumers.
Clothes alone do not stick to seasonal trends. In today’s market home décor & furnishing sectors too have perennially remained in vogue, by closely following changing consumer life style & preferences on an ongoing basis. After all, following the global trends, decorating smarter is the new mantra of contemporary consumers in India. There are several genes that keep on giving to this growth; one being is that now, this generation have started taking home as the contemplation of what we stand for and so, a lot of citizenry are now spending more on furniture, fixtures and on home decor. The second biggest is Women are conquering each place & as Queen of our own world we want to live our life King Size in a dome made & decorated by our own minds.
Day by day as the running for success is speeding up in metro’s where everybody wants to be their own version of Milkha Singh, a comeback to a luxury home which includes a home theatre, cocktail bar, gym, patio garden, mood lighting, music, shower units, LED lighting, decorator furniture, exclusive artifacts, vintage pieces & keyless entry is a never ending wish list to have. Come in to any urban goer house, and you won’t be surprised to find dried flowers, scented candles, bottle of wine & the best cheese to serve you & if you are lucky to stay enough for a night away, a warm English breakfast is definitely on your plate to kick start the morning. We all are moving fast together and we love to move forward in life with the little tinge of Style & Fashion. Luxury isn’t only for the Elite, it’s for all of us Stylish People.
No house is complete without a range of luxury home accessories to truly create the interior design stand out. The finishing touches to every room, home accessories include soft furnishings, home fragrance and key decorative accessories such as photo frames, prints, vases and many other interior essentials which no interior should be without. India is filled up with a massive assemblage of home furnishing accessories from across the globe, that comes in to complement a variety of styles and tastes to ensure that whatever you are looking for, you will find the consummate piece for your house. Welcome to a new Luxurious Way of Living Your Life, King Size J
The article has been pen down by Nitesh Chandra Co-founder of maddhome.com.
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