FURNITURE

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Furniture industry

Furniture industry, all the companies and activities involved in the design, manufacture, distribution, and sale of functional and decorative objects of household equipment. The modern manufacture of furniture, as distinct from its design, is a major mass-production industry in Europe, the U.S., and other advanced regions.

The Furniture/Home Furnishings Industry consists of businesses that manufacture and sell furniture, textiles and related goods to residences, offices, hotels and others in the commercial space. Offerings include upholstery, case goods, bedding, seating, hearth products, and fabrics. Though mature, this industry will present investors with investment opportunities during certain periods within the economic cycle.

Traditionally, domestic companies in this fragmented, labor-intensive industry have concentrated on wholesale manufacturing. But, recently, the rising cost of production, along with intense overseas competition, has forced a consolidation and shift to the retail side. Duty-free imports have left the U.S. market wide open to foreign producers, which have increased their market share. Overseas companies, especially those in China, have an advantage, given their low-cost facilities and workforces, efficient distribution, and good-quality products. They are a challenge to American manufacturers, particularly in the residential furniture segment.

Faced with tough international competition, domestic companies have attempted to produce more with less plant and staff, improve materials supply, and enhance distribution. Even with these efforts, it can still be hard to earn a decent profit. Too, difficult economic times, most notably in the housing sector, can exacerbate the pressure on margins. Many companies have chosen to source economical finished goods from overseas and customize them for customers. Greater attention to design and finish can be a key differentiator.

nternational trade, safety, and environmental regulations have an impact, sometimes beneficial, sometimes detrimental, on the industry.

India is a place for unique and excellent creative work of furniture. The Indian furniture industry is popular in the nation and internationally because of its rich handicraft and attractive traditional art and design. The Indian Furniture market has evolved over time. It has broadened its market from chair and table to designed interiors like wardrobe or sofas. Furniture has been an essential part of an Indian household for centuries. The major part of the Indian furniture industry accounts in the unorganized sector.

In India, a wide variety of raw materials are used in the production of furniture like Wood, Plastic, Cane, Bamboo, Metal, and Others. Around the world, wood furniture contributes largest segments because of its numerous varieties of indigenous wood and imported wood. Nowadays, Bamboo woods are also becoming popular in place of plywood. Indian wood is known for its traditional and esthetic work. States like Kerala, Gujarat, Uttar Pradesh, Kashmir, and Punjab are commercial centers for their wonderful decorating, turning, and great finishing of their work. These days' customers also have the convenience to order furniture both online and offline - increase in digitization and flexibility of home delivery with customization option surging the online India furniture market. The companies like Pepper fry, Urban ladder and others are generating significant revenue through online platforms. At the same time, surging trends of online shopping are pushing the traditional furniture manufacturers, say Godrej, Nilkamal to introduce and sell their products through online medium.