India Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 23.92 Billion |
| Market Size (2029) | USD 34.55 Billion |
| CAGR (2024 - 2029) | 7.63 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Furniture Market Analysis
The India Furniture Market size is estimated at USD 23.92 billion in 2024, and is expected to reach USD 34.55 billion by 2029, growing at a CAGR of 7.63% during the forecast period (2024-2029).
The furniture market in India has evolved. The rise of the Indian furniture market is facilitated by an increase in middle-class people, rising disposable income, and an increase in urban dwellings. India's unorganized small local businesses dominate the country's furniture sector. However, during the past ten years, organized players have expanded their participation in the Indian furniture market. Urbanization of Indian states, the increasing demand for durable and hybrid sitting furniture, and the rising demand for modular and cutting-edge furniture are all factors driving the expansion of the furniture business in the country. The flourishing Indian wood industry also contributes to reducing the price of furniture. These factors are expected to boost the growth of the furniture market in the country.
Furthermore, there is expected to be a rise in demand for furniture through online channels due to the increasing acceptance of mobile and internet shopping in India. The tourism and hospitality sector, as well as the corporate sector, are also driving the expansion of the Indian furniture market. The rise in hotels and corporate offices further fuels the country's demand for furniture.
India Furniture Market Trends
Changing Consumer Preferences are Fueling the Market Growth
Consumer preferences have altered as Western culture's impact has grown. The demand for adaptive and stylish furniture has increased in India's metropolitan cities. The fast rise of metropolises and the development of the housing sector are transforming people's living standards and lives. Furthermore, as consumers grow more conscious of the importance of sustainability and recycling, they make more informed purchasing selections, preferring engineered wood furniture/refurbished furniture over plastic furniture. As a result, to fulfill expanding consumer demand, furniture producers are continually producing creative and ecological goods.
Rise in Adoption of Home Décor is Fueling the Market
With the growth of the Indian economy, disposable incomes have been on the rise. This has led to an increase in purchasing power and the ability of individuals to spend more on home decor, including furniture. Shifting lifestyles and rapid urbanization have led to a change in consumer preferences. There is a growing emphasis on creating aesthetically pleasing and well-designed living spaces. As a result, people are investing more in home decor and furniture to enhance their homes' overall look and feel. Home improvement shows and interior design magazines have gained significant viewership in India. The growth in the real estate sector, including residential and commercial projects, has created a demand for furniture. New homes, apartments, and office spaces require furnishing, leading to increased sales in the furniture market.
India Furniture Industry Overview
The Indian furniture market is highly competitive and fragmented, with fewer market players than the unorganized market players. The key players in the market include Godrej, Zuari, Durian, Nilkamal, and Featherlite. However, due to low entry barriers, several new players are expected to enter this market.
India Furniture Market Leaders
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Godrej Furniture
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Zuari Furniture
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Durian
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Nilkamal Ltd
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IKEA
*Disclaimer: Major Players sorted in no particular order
India Furniture Market News
- August 2023: Shivalik Group, an Ahmedabad-based real estate developer, and Stanley Furniture, one of India's top fully integrated luxury furniture manufacturers, forged a strategic partnership. The goal of this partnership is to open luxurious furniture stores throughout Gujarat.
- March 2023: Durian Furniture launched its spring 2023 offerings of veneer furniture pieces, available both in-store and online. The company launched a coveted collection of timeless coffee tables, side tables, TV units, and buffets that merge with the inherent beauty of exotic veneers and mesmerizing patterns handcrafted by skilled Marquetry artisans.
India Furniture Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
5. MARKET DYNAMICS
- 5.1 Market Overview
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5.2 Market Drivers
- 5.2.1 Growing Urbanization is Driving the Market
- 5.2.2 Increase in Rising Disposable Income
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5.3 Market Restraints
- 5.3.1 Price Sensitivity is a Significant Challenge in the Indian Furniture Market
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5.4 Market Opportunities
- 5.4.1 E-commerce and Digital Adoption
- 5.5 Industry Value Chain Analysis
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5.6 Industry Attractiveness: Porter's Five Forces Analysis
- 5.6.1 Threat of New Entrants
- 5.6.2 Bargaining Power of Buyers
- 5.6.3 Bargaining Power of Suppliers
- 5.6.4 Threat of Substitutes
- 5.6.5 Intensity of Competitive Rivalry
- 5.7 Insights into Technological Innovations in the Furniture Industry
- 5.8 Insights into Consumer Preferences for Furniture Products in the Country
- 5.9 Impact of COVID-19 on the Market
6. MARKET SEGMENTATION
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6.1 Material
- 6.1.1 Wood
- 6.1.2 Metal
- 6.1.3 Plastic and Other Furniture
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6.2 Type
- 6.2.1 Home Furniture
- 6.2.2 Office Furniture
- 6.2.3 Hospitality Furniture
- 6.2.4 Other Furniture
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6.3 Distribution Channel
- 6.3.1 Supermarkets/Hypermarkets
- 6.3.2 Specialty Stores
- 6.3.3 Online
- 6.3.4 Other Distribution Channels
7. COMPETITIVE LANDSCAPE
- 7.1 Market Competition Overview
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7.2 Company Profiles
- 7.2.1 Godrej Interio
- 7.2.2 Zuari Furniture
- 7.2.3 Durian
- 7.2.4 Usha Lexus Furniture
- 7.2.5 Damro
- 7.2.6 Evok
- 7.2.7 Ikea
- 7.2.8 Hulsta
- 7.2.9 Wipro Furniture
- 7.2.10 Nilkamal Furniture
- 7.2.11 Other Prominent Companies (Dynasty, Featherlite, Omfurn India Ltd, Pepperfry, and Urban Ladder, etc)*
- *List Not Exhaustive
8. FUTURE OF THE MARKET
9. DISCLAIMER AND ABOUT US
** Subject To AvailablityIndia Furniture Industry Segmentation
Furniture refers to moveable items that are used to make a space appropriate for living or working. Beds, sofas, desks, tables, and chairs are examples of furniture. The market's background is thoroughly examined, covering industry trends, growth factors, market shares, market size and forecast, and suppliers. The research also includes qualitative and quantitative evaluations based on an analysis of data collected from market participants and industry analysts at significant stages in the industry's value chain.
The Indian furniture market is segmented by material into wood, metal, plastic, and other furniture, by type into home furniture, office furniture, hospitality furniture, and other furniture, and by distribution channels into supermarkets and hypermarkets, specialty stores, online, and other distribution channels. The report offers market sizes and forecasts for the Indian furniture market in terms of value (USD) for the above segments.
| Material | Wood |
| Metal | |
| Plastic and Other Furniture | |
| Type | Home Furniture |
| Office Furniture | |
| Hospitality Furniture | |
| Other Furniture | |
| Distribution Channel | Supermarkets/Hypermarkets |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
India Furniture Market Research FAQs
How big is the India Furniture Market?
The India Furniture Market size is expected to reach USD 23.92 billion in 2024 and grow at a CAGR of 7.63% to reach USD 34.55 billion by 2029.
What is the current India Furniture Market size?
In 2024, the India Furniture Market size is expected to reach USD 23.92 billion.
Who are the key players in India Furniture Market?
Godrej Furniture, Zuari Furniture, Durian, Nilkamal Ltd and IKEA are the major companies operating in the India Furniture Market.
What years does this India Furniture Market cover, and what was the market size in 2023?
In 2023, the India Furniture Market size was estimated at USD 22.09 billion. The report covers the India Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the main distribution channels for Furniture Industry in India?
The main distribution channels for Furniture Industry in Inia are a) Supermarkets and Hypermarkets b) Specialty Stores and Online Services
Furniture in India Industry Report
The India furniture market, inclusive of the chair business market, is projected to witness significant growth in the coming years, as per the industry analysis by Mordor Intelligence™ Industry Reports. This growth is driven by various factors such as increasing disposable incomes, a shift towards nuclear families, and the rise of e-commerce platforms. The market, segmented by material, distribution channel, and end use, is dominated by wood due to its warmth, elegance, and durability. The India furniture market size is also expanding due to changing consumer preferences, with a growing demand for sustainable and eco-friendly furniture options. The rise of social media and interior design platforms has led to an increased demand for unique and aesthetically pleasing furniture pieces. Rapid urbanization and population growth in India are also contributing to the market's growth, with an increase in the construction of residential and commercial spaces fueling the need for furniture. Trends such as minimalist furniture designs and the integration of smart technology into furniture are becoming increasingly popular in the India furniture market. The growing popularity of sustainable furniture materials and the deployment of cutting-edge technologies into furniture for multi-task purposes are also driving the market. The Furniture in India market share, size, and revenue growth rate statistics, along with a market forecast outlook and historical overview, are available as a free report PDF download.
