Global Furniture Market Overview

Most Popular Materials Used to Make Furniture

The global furniture industry can also be divided according to the most widely used materials.

1. Wood

Wood is the most widely used material for making furniture across the globe. It has its roots set in several traditions. Thus, it has cultural significance in several regions of the world, including India. In addition, it provides gorgeous, culturally rich, and royal designs.

2. Cane

Cane/ wicker is another material that has been used for several centuries. In today’s day and age, it is considerably less prevalent than it used to be. However, globally it is still quite popular to add a rustic vintage touch.

3. MDF

This is yet another popular material used as a solution to build furniture for modern homes. This is generally used as a substitute for wood. However, it is way cheaper. Due to its price and functionality, it is one of the most popular materials in the furniture industry.

4. Glass

Even though it is not one of the most popular materials, it is still used to make certain types of furniture like Glass tables, Glass based cabinets, etc. It adds style and elegance to any kind of interior decor.

5. Metal

Steel, chrome, metal, etc., are materials that dominate the furniture industry. Several furniture materials are made up solely of these materials. However, most furniture has steel inserts or blends to create hybrid furniture.

6. Acryl

Used as a substitute for glass, acryl is popular for its utility and cheap price. In addition, it has impressive durability and is one of the most popularly used materials today.

7. Plastic

Last but certainly not least, plastic is one of the fastest-growing furniture materials in the world. It is affordable, customizable, versatile, functional, and aesthetic. It is one of the most preferable and durable options in this day and age!

Plastic Furniture Market Growth and Performance

Globally, the demand for low-cost and durable furniture has increased among various customer segments. In India, particularly in the last decade, plastic furniture has risen exponentially, prompting a shift in the sector. This shift mainly occurred as a result of the introduction of plastic furniture in India, which resulted in a surge in the home furniture market in India. This is also because of several advantages that plastic has over other materials like low maintenance, durable, economical, customizable, and available in various shapes, colors, and designs. In addition, many entrants are focusing on producing eco-friendly plastic furniture to capture ever-growing environment-conscious buyers. 

To gain more in-depth insight into the Plastic furniture industry, check out our blog on An insider’s guide to Plastic Furniture Industry.

Notable Trends in The Furniture Industry

Like all other industries, this is also an ever-evolving one! These changes come from consumer demands and preferences and several other factors. From multiple payment options to new essentials, we witnessed interesting and unique customer trends and behavior. However, here are a few pervasive trends that are being observed in the industry currently.

1. A Rising Online Demand 

Since the pandemic has forcefully pushed people into their homes, all the activities are now being carried out from our homes! Ecommerce has reaped the advantage of this situation as physical stores have been closed for an extended period. Ecommerce sector is expected to grow 84% by 2024 due to the pandemic. The ongoing pandemic has led to increased reliance on online retail for purchasing needs, even among traditional consumers. Pepperfry’s online business has risen to 120 percent of pre-lockdown levels, indicating amplified use of e-commerce options.

This change can be owed to several reasons. Firstly, even after reopening these stores, the customers were skeptical about retail shopping for social distancing. Customers found it easier to purchase their desired products from the comfort and safety of their homes. Major Industry players have stated that the brands have witnessed more than a 50% increase in the new online buyers since 2020. This brings us to the next trend.

2. Omni Channel Sales

Several furniture stores, especially local furniture retails, relied on local sales entirely. Some of these brands were beginning their online journey. However, only after the onset of the pandemic most brands focused on their online presence and tried to make it grow religiously. Hence, this resulted in most brands opting for an omnichannel approach to reach a more significant mass. Even local brands focused on perfecting their online sales strategy as it was one of the easiest ways to grow the business even in the middle of a calamity. 

Brands have switched to selling on their websites or ecommerce websites such as Amazon, eBay, Pepperfry and more. In addition, many have switched to other mediums such as Facebook Marketplace, Instagram shops, Google Shopping, Paytm marketplace and Whatsapp Business too! These platforms have seen exponential growth post the onset of the pandemic.

For example, Italica furniture distributes its products through local retailers and sells digital via ecommerce stores, Email, Instagram and Facebook. However, post the pandemic, they focused on perfecting their online sales channel. They created Easy guides and tutorials for their dealers and distributors to shift towards creating a successful online sales channel. This has helped the brand reach a more comprehensive online audience and cater to tier 2 and tier 3 cities with seamless and risky free delivery options.

Big online furniture players adopt innovative technologies and solutions to cater to increasing consumer demands. As purchasing furniture online can be tricky, leading players in the market explore augmented reality and virtual reality features within their apps and websites to create a virtual online shopping experience for their customers. However, considering the vast catalog size in this space, this exercise comes with several constraints and is still at a nascent stage.

3. Customizable Products

With the younger generation seeing a higher purchasing power at an early age, it is observed that they gravitate towards more customizable yet affordable furniture. This has led brands to offer the option of customization in their products. Plastic furniture provides extreme versatility and innovation. Therefore, itMoreover, plastic would be a top preference for most young customers.

4. Environment Consciousness

Sustainability is one of the significant concerns with the customers. Hence the industry has also focused on this as a serious concern. From having environment-friendly manufacturing processes, treatment of workers to final production of the products, brands are making all these processes ethical, from start to the end. 

Italica furniture has a sustainable policy wherein all of Italica’s products are 100% recyclable, creating zero waste. Furthermore, their manufacturing method rigorously adheres to sustainable guidelines, ensuring little to no detrimental environmental impact. In addition, they implement an efficient water recycling system and utilize renewable energy sources.

5. Smart Furniture

Customers are gravitating towards smart furniture. This type of furniture serves more than one purpose. It will be versatile like Italica Spine Care Chair, a doctor-approved seating to improve your posture, provide back supreme comfort with its excellent lumbar support, and be easily used as both a Work-from-home chair and a Patio chair!

There are other examples of smart furniture, such as Barca loungers with Bluetooth speakers, or tables with charging ports or the option to surf the internet, etc. 

Smart furniture manufacturers are already producing smart furniture solutions to fulfill the demands of changing lifestyles and cater to audiences with smaller home spaces.

6. A Growing Need for Remote Office Furniture

With more people increasingly working from home, there has been an upsurge in demand for ergonomic yet fashionable, functional, easy-to-assemble, and quick-to-ship home office furniture. As a result, sales have increased considerably for furniture companies that specialize in home office furniture. We anticipate this trend to continue well into 2021, and even after that, remote working will be more than just a fad.

Furniture manufacturers have started to adapt their designs to their target market by creating practical home office furniture that is both comfortable and pleasurable while also conducive to productivity. As a result, home workspaces are on the rise, with stylish and comfortable furniture!

7. Cash and Carry Option

As we mentioned before, millennials constitute a large percentage of the consumers of the furniture industry. Millennials expect to receive all their purchases immediately or within a day. Whether it is online or offline, they want their furniture to reach them as soon as possible. 

Younger shoppers, who have grown up in an ecommerce-driven world, are used to instant gratification when they make purchases. That’s why more and more shoppers favor a cash-and-carry model for furniture stores, even if that limits the choices they have.

Hence, the option for Cash and Carry is on the rise! As a result, several businesses cater to the masses by offering pre-assembled furniture in a range of options for easy pickup or quick delivery.

8. Personalized Experiences

It’s 2021! The year that sounds like a futuristic world should be in place. And to our delight, it is! Customers expect personalized experiences and brands are offering them to them! 

Businesses are acquiring as much information as possible on their customers, including internet searches, demographics, geography, purchase history, social media activity, and things in or previously added to their shopping cart. In addition, some brands use AI to understand their customer’s behavior and cater to them in a more personal and exclusive way. From sending out exclusive birthday offers to promote products to online customers based on their past searches, brands focus on providing personalized and memorable experiences.

9. Tech-Savvy Staff

In-store staff for furniture stores is now becoming increasingly tech-savvy. They are gradually acquiring the necessary tools to provide customers with accurate, up-to-date product information and answer their inquiries to provide a seamless shopping experience to the customers.

10. Policy Support For Manufacturing

All Indian Industries, including the furniture industry, are becoming self-reliant. Government enables this growth with initiatives such as ‘Make in India’ and ‘Vocal for Local.’ As a result, the government of India has planned to increase the country’s GDP by 25% by 2025 and the furniture industry contributes a significant portion to the GDP!

11. Impeccable Logistics and Supply Chain

With the government’s emphasis on building vital road, rail, and international networks and concentrating on a technology-enabled supply chain and storage ecosystem, the country’s logistics and supply chain sector is expected to increase. This will impact the furniture industry positively as a result happens to be excellent products and services for the customer.