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India Furniture Market: By Raw Material: Metal, Wood, Plastic, Others; By Sector: Organised, Unorganised; By End Use: Residentials, Commercial Offices, Hotels/Restaurants, Others; By Distribution Channels; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
India Furniture Market Outlook
The India furniture market stood at a value of around INR 13.4 billion in 2021. The market is further expected to grow at a CAGR of 6.70% in the forecast period of 2023-2028.
Heightened Demand for Wood Furniture to Augment the India Furniture Industry
Based on raw material, the wood segment is predicted to hold a significant market share in the furniture industry. This growth can be attributed to the increased demand for wood furniture among consumers, owing to its natural and aesthetic visual appeal. In addition, the ease of maintenance and durability offered by this material is also expected to add to its popularity.
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Moreover, the availability of faux wood furniture, which can be made using plastic or metal, that offers the look of natural wood but is relatively cheaper and easy to assemble, is also witnessing an increased demand among consumers. These factors are expected to contribute to the overall market growth in the forecast period.
Improving Living Standards in India to Bolster the India Furniture Industry Growth
The India furniture industry is predicted to witness a healthy growth in the forecast period. This growth can be attributed to the heightened demand for home furniture, fuelled by the increasing population and rapid urbanisation in the region. This is leading to rising investments in infrastructure renovation activities, with consumers increasingly adopting aesthetic furniture solutions. In addition, the growing disposable incomes and improved living standards are also driving consumers to invest in household décor enhancement solutions. These factors are projected to aid the market growth in the forecast period.
Furniture: Market Segmentation
Furniture refers to movable objects that are manufactured to aid various human activities, such as for sleeping and seating. A variety of furniture like beds, chairs, and sofas are available in the market. In addition, they also offer the potential for customisability. Moreover, furniture can also have a visual décor enhancement function instead of a practical function.
By raw material, the market is divided into:
- Metal
- Wood
- Plastic
- Others
On the basis of sector, the market can be segmented into:
- Organised
- Unorganised
Based on end use, the industry can be segregated into:
- Residentials
- Commercial Offices
- Hotels/Restaurants
- Others
On the basis of distribution channels, the market can be distributed into:
- Supermarkets and Hypermarkets
- Speciality Stores
- Online
- Others
The regional markets for the product include North India, East India, West India, and South India.
Rapid Urbanisation and the Increased Demand for Multifunctional Furniture to Spearhead the India Furniture Industry
The India furniture industry is anticipated to be aided by the growing urbanisation across the country. The rapidly expanding population and the rising middle-class in the region are driving the demand for residential and commercial infrastructure development. In addition, the rising disposable incomes and improved living standards are also driving the demand for innovative and unique home décor solutions. Additionally, the growing trend of work-from-home is leading to a rise in demand for multifunctional furniture to help with the home-office set up. In this regard, there is an increased availability of innovative furniture ideas to help save space and offer an upscale look. Furthermore, the increased availability of a wide range of furniture across online platforms is also enhancing their sales. These factors are projected to bolster the market growth in the forecast period.
Key Industry Players in the India Furniture Market
The report gives a detailed analysis of the following key players in the India furniture market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- IKEA Systems B.V.
- Godrej Interio
- Nilkamal Limited
- Zuari Furniture
- Durian Private Ltd.
- Usha Shriram Enterprises Pvt. Ltd.
- Damro Furnitures Pvt. Ltd.
- The Supreme Industries Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Raw Material, Sector, End Use, Distribution Channels, Region |
| Breakup by Raw Material | Metal, Wood, Plastic, Others |
| Breakup by Sector | Organised, Unorganised |
| Breakup by End Use | Residentials, Commercial Offices, Hotels/Restaurants, Others |
| Breakup by Distribution Channels | Supermarkets and Hypermarkets, Speciality Stores, Online, Others |
| Breakup by Region | North India, East India, West India, South India |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | IKEA Systems B.V., Godrej Interio, Nilkamal Limited, Zuari Furniture, Durian Private Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., The Supreme Industries Limited, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 India
7 Industry Opportunities and Challenges
8 India Furniture Market Analysis
8.1 Key Industry Highlights
8.2 India Furniture Historical Market (2018-2022)
8.3 India Furniture Market Forecast (2023-2028)
8.4 India Furniture Market by Raw Material
8.4.1 Metal
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Wood
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Plastic
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 India Furniture Market by Sector
8.5.1 Organised
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Unorganised
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 India Furniture Market by End Use
8.6.1 Residentials
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Commercial Offices
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Hotels/Restaurants
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 India Furniture Market by Distribution Channels
8.7.1 Supermarkets and Hypermarkets
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Speciality Stores
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Online
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Others
8.8 India Furniture Market by Region
8.8.1 Market Share
8.8.1.1 North India
8.8.1.2 East India
8.8.1.3 West India
8.8.1.4 South India
9 Regional Analysis
9.1 North India
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 East India
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 West India
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 South India
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Importing Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Exporting Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 IKEA Systems B.V.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Godrej Interio
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Nilkamal Limited
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Zuari Furniture
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Durian Private Ltd.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Usha Shriram Enterprises Pvt. Ltd.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Damro Furnitures Pvt. Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 The Supreme Industries Limited
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. India Furniture Market: Key Industry Highlights, 2018 and 2028
2. India Furniture Historical Market: Breakup by Raw Material (INR Billion), 2018-2022
3. India Furniture Market Forecast: Breakup by Raw Material (INR Billion), 2023-2028
4. India Furniture Historical Market: Breakup by Sector (INR Billion), 2018-2022
5. India Furniture Market Forecast: Breakup by Sector (INR Billion), 2023-2028
6. India Furniture Historical Market: Breakup by End Use (INR Billion), 2018-2022
7. India Furniture Market Forecast: Breakup by End Use (INR Billion), 2023-2028
8. India Furniture Historical Market: Breakup by Distribution Channels (INR Billion), 2018-2022
9. India Furniture Market Forecast: Breakup by Distribution Channels (INR Billion), 2023-2028
10. India Furniture Historical Market: Breakup by Region (INR Billion), 2018-2022
11. India Furniture Market Forecast: Breakup by Region (INR Billion), 2023-2028
12. India Furniture Market Structure
Key Questions Answered in the Report
In 2021, the India furniture market attained a value of nearly INR 13.4 billion.
The market is projected to grow at a CAGR of 6.70% between 2023 and 2028.
The major drivers of the industry, such as the increased investments in the infrastructure development activities, rising population, increased demand for home-office set up essentials, rising disposable incomes, and improved living standards of consumers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid urbanisation and the increased demand for multifunctional furniture.
The major regions in the industry are North India, East India, West India, and South India.
The significant raw materials include metal, wood, plastic, and others.
The major sectors include organised and unorganised.
The different end uses include residentials, commercial offices, hotels/restaurants, and others.
The major distribution channels include supermarkets and hypermarkets, speciality stores, online, and others.
The major players in the industry are IKEA Systems B.V., Godrej Interio, Nilkamal Limited, Zuari Furniture, Durian Private Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., The Supreme Industries Limited, and others.
Analyst Review
The India furniture market attained a value of INR 13.4 billion in 2021, driven by the increased investments in household décor enhancement by consumers. Aided by the rapid urbanisation, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.70%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By raw material, the market can be distributed into metal, wood, plastic, and others. On the basis of sector, the industry can be segmented into organised and unorganised. Based on end use, the industry can be segregated into residentials, commercial offices, hotels/restaurants, and others. The industry can be categorised based on distribution channel into supermarkets and hypermarkets, speciality stores, online, and others. The major regional markets for furniture are North India, East India, West India, and South India. The key players in the above market include IKEA Systems B.V., Godrej Interio, Nilkamal Limited, Zuari Furniture, Durian Private Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., The Supreme Industries Limited, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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