Home Furnishing in India Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 22.92 Billion |
| Market Size (2029) | USD 38.38 Billion |
| CAGR (2024 - 2029) | 10.64 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Home Furnishing in India Market Analysis
The India Home Furniture Market size is estimated at USD 22.92 billion in 2024, and is expected to reach USD 38.38 billion by 2029, growing at a CAGR of 10.64% during the forecast period (2024-2029).
India is the fifth-largest exporter and the fourth-largest consumer of furniture in the world. The country's rapid urbanization drives the Indian furniture industry. Many of the young generation are moving to cities for better jobs and quality of life. This indicates that people are looking for furniture in their apartments and studios. The increase in disposable income is a major factor that allows people to invest in quality furniture that will last for a long time. There is a growing interest in modern or trendy furniture that may improve the look of the place and provide all the functionalities.
The growing per capita incomes of the middle class are driving the home furniture market in India. The growth of the infrastructure sectors, such as real estate and tourism, also drives the demand for commercial furniture. India is known for its carved furniture and other specialized wood furniture.
Brands seek to expand their reach through local distribution partnerships and independent stores in major cities. The market is wider than the high street, as online retailers have carved out a niche in this segment. Furniture has always been a vital part of home renovation. The furniture category has been doing quite well with the surge in residential property sales and the growing demand for a well-maintained home and stylish interiors.
Home Furnishing in India Market Trends
Rising Demand for Modular and Semi-modular Kitchen Furniture Driving Growth in the Indian Home Furniture Market
The Indian home furniture market has witnessed significant growth, driven prominently by the increasing demand for modular and semi-modular kitchen furniture. This segment has emerged as a robust market driver, characterized by its versatility, functionality, and aesthetic appeal. Modular kitchen furniture, known for its customizable features and efficient use of space, appeals to urban dwellers seeking modern living solutions. Semi-modular kitchen furniture offers a balance of affordability and customization, catering to a broader consumer base across different income levels.
The surge in revenue, quantified in USD million, highlights the significant impact of modular and semi-modular kitchen furniture on the Indian home furniture market. This growth is propelled by increasing disposable incomes, evolving lifestyles, and a preference for organized retail platforms that provide diverse furniture options. Manufacturers introduce novel materials and designs as the market expands to meet rising demand. This innovation meets consumer needs and stimulates interest in modular and semi-modular kitchen furniture across residential and commercial segments in India.
E-commerce's Expansion Driving the Indian Home Furniture Market
E-commerce has become a driving force behind the expansion of India's furniture market. As internet connectivity and smartphone adoption continue to rise, more consumers are opting to purchase furniture online. This trend is fueled by the convenience of browsing extensive product selections, comparing prices, and reading customer reviews.
E-commerce platforms present a wide array of furniture options, ranging from economical to high-end designs, catering to diverse consumer preferences. This accessibility has broadened the market's geographical reach beyond urban centers and made quality furniture more accessible to customers in smaller towns and rural areas.
The efficiency of e-commerce logistics ensures swift deliveries, often accompanied by enticing discounts and promotions, which further motivate consumers to shop online. Consequently, the Indian furniture market is witnessing robust growth, driven by the convenience, variety, and cost-effectiveness of e-commerce platforms.
Home Furnishing in India Industry Overview
The Indian home furniture market exhibits a fragmented landscape. The competitive landscape of the Indian home furniture market features key players such as Godrej Interio, who are known for their versatile residential and office solutions. Nilkamal Furniture offers durable and affordable options, while Damro Furniture focuses on contemporary designs and craftsmanship. Durian Furniture caters to premium segments with luxurious offerings, and Spacewood Furnishers Pvt. Ltd specializes in modular furniture systems. Each company brings distinct strengths to meet diverse consumer demands regarding style, quality, and pricing, shaping a competitive environment driven by innovation and customer-centric strategies.
Home Furnishing in India Market Leaders
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Godrej Interio
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Nilkamal Furniture
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Damro Furniture
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Durian Furniture
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Spacewood Furnishers Pvt. Ltd
*Disclaimer: Major Players sorted in no particular order
Home Furnishing in India Market News
- October 2023: Godrej and Boyce, the flagship company of the Godrej Group, significantly enhanced the customer experience for Godrej Interio by opening 15 new stores in Delhi-NCR. This expansion increased the total store count to 35 in this crucial market, featuring various offerings, including modular kitchen solutions and various home furnishing options.
- February 2023: Featherlite recently opened a new exclusive experience center and retail outlet in Ahmedabad, showcasing various products, including ergonomic chairs and home furniture. With this launch, Featherlite now operates 66 stores across India.
Home Furnishing in India 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 DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Government Initiatives
- 4.2.2 E-Commerce is Rapidly Expanding in the Indian Furniture Market
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4.3 Market Restraints
- 4.3.1 Quality Control And Stadards
- 4.3.2 Logistical Constraints
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4.4 Market Opportunities
- 4.4.1 Customization And Personalization
- 4.4.2 Green and Sustainable Furniture
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Buyers
- 4.5.2 Bargaining Power of Suppliers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights into Technological Innovations and Latest Trends in the Market
- 4.7 Insights on Recent Developments (Product Launches, Partnerships, JVs, Expansion, M&A, etc.) in the Industry
- 4.8 Insights on Local Production of Home Furniture Products in India (Typical Raw Material, Major Manufacturing Hubs, Key Products Locally Manufactured, Share of Local Production from the Total Consumption, and Other Insights)
- 4.9 Insights on Imports and Exports of Home Furniture from India (includes Major Products Imported and Exported, Key Import/Export Partners)
- 4.10 Insights on Average Retail Pricing per Product Category
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Modular and Semi-modular Kitchen Furniture
- 5.1.1.1 L Shape Modular Kitchen
- 5.1.1.2 U Shape Modular Kitchen
- 5.1.1.3 Parallel Shape Modular Kitchen
- 5.1.1.4 Straight Shape Modular Kitchen
- 5.1.1.5 Other Modular Kitchen Furniture
- 5.1.2 Bedroom Furniture
- 5.1.2.1 Beds
- 5.1.2.2 Dresser/Dressing Tables
- 5.1.2.3 Bedside Tables
- 5.1.2.4 Other Bedroom Furniture (Chest of Drawers, Floor Mirror, etc.)
- 5.1.3 Bathroom Furniture
- 5.1.3.1 Bathroom Cabinets
- 5.1.3.2 Other Bathroom Furniture
- 5.1.4 Wardrobes
- 5.1.4.1 Single-door Wardrobes
- 5.1.4.2 Double-door Wardrobes
- 5.1.4.3 Three-door Wardrobes
- 5.1.4.4 Four-door Wardrobes
- 5.1.4.5 Other Wardrobes (Almirah, etc.)
- 5.1.5 Other Home Furniture Products (Living Room Furniture, Kids Furniture, Home Office Furniture, etc.)
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5.2 By Type of Market
- 5.2.1 Organized
- 5.2.2 Unorganized
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5.3 By Distribution Channel
- 5.3.1 Home Centers
- 5.3.2 Specialty Stores
- 5.3.3 Online
- 5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Godrej Interio
- 6.2.2 Nilkamal Furniture
- 6.2.3 Damro Furniture
- 6.2.4 Durian Furniture
- 6.2.5 Spacewood Furnishers Pvt. Ltd
- 6.2.6 Zuari Furniture
- 6.2.7 Royaloak Incorporation
- 6.2.8 Wipro Seating Solutions
- 6.2.9 Wooden Street Furniture Private Limited
- 6.2.10 Pepperfry
- 6.2.11 Crystal Furnitech Private Limited
- 6.2.12 Hevea Furniture & Interiors Pvt. Ltd
- 6.2.13 Bluewud
- 6.2.14 Dynasty
- 6.2.15 Featherlite*
*List Not Exhaustive
7. FUTURE OF THE MARKET
8. ABOUT US
Home Furnishing in India Industry Segmentation
The Indian home furniture market encompasses the manufacturing, distribution, and retail of residential and commercial furniture. It features diverse products catering to varied consumer preferences influenced by cultural, economic, and lifestyle factors.
The Indian home furniture market is segmented into product type, type of market, and distribution channel. By product type, the market is segmented into modular and semi-modular kitchen furniture with L shape modular kitchen, u shape modular kitchen, parallel shape modular kitchen, straight shape modular kitchen, and other modular kitchen furniture, bedroom furniture with beds, dresser/dressing tables, bedside tables, and other bedroom furniture with chest of drawers, floor mirror, etc., bathroom furniture with bathroom furniture, and other bathroom furniture, and wardrobes with single-door wardrobes, double-door wardrobes, three-door wardrobes, four-door wardrobes, other wardrobes (almirah, etc.), and other home furniture products with living room furniture, kids furniture, home office furniture, etc. By type of market, the market is segmented into organized and unorganized. By distribution channel, the market is segmented into home centers, specialty stores, online, and other distribution channels. The report offers market size and forecasts for the Indian home furniture market in terms of value in USD for all the above segments.
| By Product Type | Modular and Semi-modular Kitchen Furniture | L Shape Modular Kitchen |
| U Shape Modular Kitchen | ||
| Parallel Shape Modular Kitchen | ||
| Straight Shape Modular Kitchen | ||
| Other Modular Kitchen Furniture | ||
| By Product Type | Bedroom Furniture | Beds |
| Dresser/Dressing Tables | ||
| Bedside Tables | ||
| Other Bedroom Furniture (Chest of Drawers, Floor Mirror, etc.) | ||
| By Product Type | Bathroom Furniture | Bathroom Cabinets |
| Other Bathroom Furniture | ||
| By Product Type | Wardrobes | Single-door Wardrobes |
| Double-door Wardrobes | ||
| Three-door Wardrobes | ||
| Four-door Wardrobes | ||
| Other Wardrobes (Almirah, etc.) | ||
| By Product Type | Other Home Furniture Products (Living Room Furniture, Kids Furniture, Home Office Furniture, etc.) | |
| By Type of Market | Organized | |
| Unorganized | ||
| By Distribution Channel | Home Centers | |
| Specialty Stores | ||
| Online | ||
| Other Distribution Channels |
Home Furnishing in India Market Research FAQs
How big is the India Home Furniture Market?
The India Home Furniture Market size is expected to reach USD 22.92 billion in 2024 and grow at a CAGR of 10.64% to reach USD 38.38 billion by 2029.
What is the current India Home Furniture Market size?
In 2024, the India Home Furniture Market size is expected to reach USD 22.92 billion.
Who are the key players in India Home Furniture Market?
Godrej Interio, Nilkamal Furniture, Damro Furniture, Durian Furniture and Spacewood Furnishers Pvt. Ltd are the major companies operating in the India Home Furniture Market.
What years does this India Home Furniture Market cover, and what was the market size in 2023?
In 2023, the India Home Furniture Market size was estimated at USD 20.48 billion. The report covers the India Home Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Home Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Home Furnishing Industry Report
Statistics for the 2024 India Home Furnishing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Home Furnishing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
