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India Furniture Market Share, Size, Growth, Analysis, Forecast: By Material: Metal, Wood, Plastic, Others; By Sector: Organised, Unorganised; By End Use: Residential, Commercial, Hospitality, Others; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
India Furniture Market Outlook
The India furniture market stood at a value of around USD 23.12 billion in 2022. The market is further expected to grow at a CAGR of 10.9% 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.
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By raw material, the market is divided into:
- Metal
- Wood
- Plastic
- Others
On the basis of sector, the market is bifurcated into:
- Organised
- Unorganised
Based on end-use, the market is segregated into:
- Residentials
- Commercial
- Hospitality
- Others
On the basis of distribution channel, the market is categorised into:
- Supermarkets and Hypermarkets
- Speciality Stores
- Online
- Others
The regional markets for furniture in India include North India, West and Central India, East 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.
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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:
- Godrej & Boyce Manufacturing Company Limited
- Inter IKEA Systems B.V.
- Wakefit Innovations Pvt. Ltd
- Nilkamal Limited
- Cello World private Limited
- Zuari Furniture
- Durian Industries Limited
- Usha Shriram Enterprises Pvt. Ltd.
- Damro Furnitures Pvt. Ltd.
- Supreme Industries Ltd.
- Wipro Furniture Private 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.
Key Highlights of the Report
| 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:
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| Breakup by Material |
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| Breakup by Sector |
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| Breakup by End-Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*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
7 Opportunities and Challenges in the Market
8 Global Furniture Market Overview
8.1 Key Industry Highlights
8.2 Global Furniture Historical Market (2018-2022)
8.3 Global Furniture Market Forecast (2023-2028)
8.4 Global Furniture Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Furniture Market Overview
9.1 Key Industry Highlights
9.2 India Furniture Historical Market (2018-2022)
9.3 India Furniture Market Forecast (2023-2028)
10 India Furniture Market by Material
10.1 Metal
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Wood
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Plastic
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Others
11 India Furniture Market by Sector
11.1 Organised
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Unorganised
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
12 India Furniture Market by End-Use
12.1 Residential
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Commercial
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Hospitality
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 India Furniture Market by Distribution Channel
13.1 Supermarkets and Hypermarkets
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Speciality Stores
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Online
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 Others
14 India Furniture Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2022)
14.1.2 Forecast Trend (2023-2028)
14.2 West and Central India
14.2.1 Historical Trend (2018-2022)
14.2.2 Forecast Trend (2023-2028)
14.3 East India
14.3.1 Historical Trend (2018-2022)
14.3.2 Forecast Trend (2023-2028)
14.4 South India
14.4.1 Historical Trend (2018-2022)
14.4.2 Forecast Trend (2023-2028)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Value Chain Analysis
17 Trade Data Analysis (HS Code - 9403)
17.1 Major Importing Countries
17.1.1 By Volume
17.1.2 By Value
17.2 Major Exporting Countries
17.2.1 By Volume
17.2.2 By Value
18 Price Analysis
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 Godrej & Boyce Manufacturing Company Limited
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Inter IKEA Systems B.V.
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Wakefit Innovations Pvt. Ltd
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 Nilkamal Limited
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 Cello World private Limited
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 Zuari Furniture
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 Durian Industries Limited
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 Usha Shriram Enterprises Pvt. Ltd.
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 Damro Furnitures Pvt. Ltd.
19.2.9.1 Company Overview
19.2.9.2 Product Portfolio
19.2.9.3 Demographic Reach and Achievements
19.2.9.4 Certifications
19.2.10 Supreme Industries Ltd.
19.2.10.1 Company Overview
19.2.10.2 Product Portfolio
19.2.10.3 Demographic Reach and Achievements
19.2.10.4 Certifications
19.2.11 Wipro Furniture Private Limited
19.2.11.1 Company Overview
19.2.11.2 Product Portfolio
19.2.11.3 Demographic Reach and Achievements
19.2.11.4 Certifications
19.2.12 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Furniture Market: Key Industry Highlights, 2018 and 2028
2. India Furniture Market: Key Industry Highlights, 2018 and 2028
3. India Furniture Historical Market: Breakup by Material (USD Million), 2018-2022
4. India Furniture Market Forecast: Breakup by Material (USD Million), 2023-2028
5. India Furniture Historical Market: Breakup by Sector (USD Million), 2018-2022
6. India Furniture Market Forecast: Breakup by Sector (USD Million), 2023-2028
7. India Furniture Historical Market: Breakup by End-Use (USD Million), 2018-2022
8. India Furniture Market Forecast: Breakup by End-Use (USD Million), 2023-2028
9. India Furniture Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
10. India Furniture Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
11. India Furniture Historical Market: Breakup by Region (USD Million), 2018-2022
12. India Furniture Market Forecast: Breakup by Region (USD Million), 2023-2028
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. India Furniture Market Structure
Key Questions Answered in the Report
In 2022, the India furniture market attained a value of USD 23.12 billion.
The market is projected to grow at a CAGR of 10.9% between 2023 and 2028.
The major drivers of the market, 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 market include the rapid urbanisation and the increased demand for multifunctional furniture.
The major regions in the market are North India, West and Central India, East India, and South India.
The significant materials include metal, wood, and plastic, among others.
The major sectors include organised and unorganised.
The different end uses include residential, commercial, and hospitality, among others.
The major distribution channels include supermarkets and hypermarkets, speciality stores, and online, among others.
The major players in the market are Godrej & Boyce Manufacturing Company Limited, Inter IKEA Systems B.V., Wakefit Innovations Pvt. Ltd, Nilkamal Limited, Cello World private Limited, Zuari Furniture, Durian Industries Limited, Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., Supreme Industries Ltd., and Wipro Furniture Private Limited, among others.
Analyst Review
The India furniture market attained a value of USD 23.12 billion in 2022, 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 10.9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By material, the market can be distributed into metal, wood, and plastic, among others. On the basis of sector, the market can be segmented into organised and unorganised. Based on end-use, the market can be segregated into residential, commercial, and hospitality, among others. The market can be categorised based on distribution channel into supermarkets and hypermarkets, speciality stores, and online, among others. The major regional markets for furniture are North India, West and Central India, East India, and South India. The key players in the above market include Godrej & Boyce Manufacturing Company Limited, Inter IKEA Systems B.V., Wakefit Innovations Pvt. Ltd, Nilkamal Limited, Cello World private Limited, Zuari Furniture, Durian Industries Limited, Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., Supreme Industries Ltd., and Wipro Furniture Private Limited, among 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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