India: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in India

The Indian wooden bedroom furniture market declined modestly to $X in 2022, shrinking by -2.1% against the previous year. Over the period under review, consumption showed a perceptible reduction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Wooden Bedroom Furniture Production in India

In value terms, wooden bedroom furniture production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 11% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from India

In 2022, after two years of growth, there was significant decline in overseas shipments of wooden furniture of a kind used in the bedroom, when their volume decreased by -29.8% to X units. Over the period under review, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2016 when exports increased by 185%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports reduced sharply to $X in 2022. In general, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 81% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

The United States (X units) was the main destination for wooden bedroom furniture exports from India, with a 41% share of total exports. Moreover, wooden bedroom furniture exports to the United States exceeded the volume sent to the second major destination, Nepal (X units), twofold. The third position in this ranking was taken by the Netherlands (X units), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+21.4% per year) and the Netherlands (+5.4% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from India, comprising 53% of total exports. The second position in the ranking was taken by Germany ($X), with a 5.9% share of total exports. It was followed by France, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+25.4% per year) and France (+38.2% per year).

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, growing by 15% against the previous year. Overall, the export price posted temperate growth. The pace of growth was the most pronounced in 2019 an increase of 71% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into India

In 2022, after two years of decline, there was growth in overseas purchases of wooden furniture of a kind used in the bedroom, when their volume increased by 1.2% to X units. Overall, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 19%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden bedroom furniture imports rose rapidly to $X in 2022. Over the period under review, imports, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest wooden bedroom furniture supplier to India, accounting for a 46% share of total imports. Moreover, wooden bedroom furniture imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (X units), threefold. The third position in this ranking was held by Malaysia (X units), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+10.7% per year) and Malaysia (+5.4% per year).

In value terms, Sri Lanka ($X), China ($X) and Malaysia ($X) were the largest wooden bedroom furniture suppliers to India, together comprising 75% of total imports. Thailand, Italy, Poland, Hong Kong SAR and Bangladesh lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Poland, with a CAGR of +61.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, growing by 13% against the previous year. Overall, the import price enjoyed noticeable growth. The pace of growth was the most pronounced in 2020 an increase of 49% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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