We are living in a world today where lemonade is made from artificial flavours and furniture polish is made from real lemons." - Alfred E. Neuman
Indian economy is on the rise and there's no stopping the Indian juggernaut. India's emergence as a powerful player among the world economies has increased the interest of the investors manifolds all over the world and the wood furniture companies and not too far behind.
Most of the world's leading home furniture brands are either operating in the market or making serious strategies on how to tap the Indian segment. This includes companies like Godrej & Boyce, Furniturewala, Zuari, Yantra, Renaissance, N R Jasani & Company, Furniture Concepts, Durian, Kian, Millenium Lifestyles etc.
Recent reports say that Indian wood furniture industry is generating an approximate turnover of Rs 3,500 crore annually and is expected to grow by 20 percent in the years to come.
Industry analysts reveal that there are four major segments in the wooden furniture category. These are residential, office, contractual and institutional. Further classification can be made on the base of specialization like kitchen, bedroom, living room etc. or on the base of raw material used.
Earlier most of the furniture made, used to be of expensive woods like walnut, oak, mahogany, rosewood, fruit woods and rare wood veneers and inlays. Though with the rise of increased global competition wooden furniture makers have shifted to other wood types like tropical hardwood, such as roble, shorea, jarrah and eucalyptus popular.
A recent survey confirmed that among the top five things Indian consumers indulges in, wooden furniture have remained a permanent fixture. The Indian furniture market is further fuelled by the shopping mall revolution which has taken most of the metros by storm. These major outlets offer high quality yet affordable wooden furniture of the top notch brands.
If some one wants to tap the Indian wooden furniture industry they need to have a better understanding of its structure. There is an organized sector and an unorganized sector.The organized sector caters to wholesalers, exporters who also take care of the franchises. The unorganized sector takes care of the retailers or exclusive dealers and even make direct sales to the baseline consumer level.
Experts say as the demand may arose of out of new construction or renovation or a fashion change, wholesale suppliers should stay in constant touch with the important players of this game which includes architects, builders, interior decorators, franchise owners and retailers. For further opportunities they can even use online promotion or advertisement and participate in their industry specific trade shows.
On the whole it can said with great assurance that the future of wood furniture industry in India seems all bright and steady on its path to success.
