Market Size of India Furniture Industry
| 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 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 Size Summary
The Indian furniture industry is experiencing significant growth, driven by factors such as increasing urbanization, rising disposable incomes, and a burgeoning middle class. The market is characterized by a mix of unorganized local businesses and a growing presence of organized players, which is contributing to its expansion. The demand for durable, modular, and innovative furniture is on the rise, fueled by the urbanization of Indian states and the development of the housing sector. Additionally, the flourishing wood industry in India is helping to keep furniture prices competitive. The shift towards online shopping is also expected to boost demand, as more consumers embrace mobile and internet shopping. The tourism, hospitality, and corporate sectors further contribute to the market's growth, with an increasing number of hotels and corporate offices driving furniture demand.
Consumer preferences in India are evolving, influenced by the impact of Western culture, leading to a greater demand for stylish and adaptable furniture, particularly in metropolitan areas. As consumers become more aware of sustainability, there is a growing preference for engineered wood and refurbished furniture over plastic options. The rise in disposable incomes and changing lifestyles are prompting individuals to invest more in home decor, enhancing the aesthetic appeal of their living spaces. The real estate sector's growth, encompassing both residential and commercial projects, is creating a steady demand for furniture. The market is highly competitive and fragmented, with key players like Godrej, Zuari, Durian, Nilkamal, and Featherlite, alongside new entrants due to low entry barriers. Recent strategic partnerships and product launches, such as those by Shivalik Group and Durian Furniture, highlight the dynamic nature of the industry.
India Furniture Market Size - Table of Contents
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1. MARKET INSIGHTS
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2. MARKET SEGMENTATION
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2.1 Material
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2.1.1 Wood
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2.1.2 Metal
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2.1.3 Plastic and Other Furniture
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2.2 Type
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2.2.1 Home Furniture
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2.2.2 Office Furniture
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2.2.3 Hospitality Furniture
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2.2.4 Other Furniture
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2.3 Distribution Channel
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2.3.1 Supermarkets/Hypermarkets
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2.3.2 Specialty Stores
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2.3.3 Online
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2.3.4 Other Distribution Channels
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India Furniture Market Size 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.
