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The India furniture market size reached approximately USD 25.64 billion in 2023. The market is projected to grow at a CAGR of 10.9% between 2024 and 2032.
Furniture refers to objects or accessories that aid people with everyday tasks such as sleeping, seating, and working, among other necessary functions. Along with the functionalities, it also enhances the visual aesthetic of a place and can influence the overall quality of a person’s life. Some of the commonly used furniture includes tables, chairs, beds, cabinets, and cupboards, among others.
Rapid urbanisation in the country is one of the major factors driving the furniture industry in India. A large share of the young demographic is migrating towards urban areas for better job opportunities and higher living standards, which fuels the demand for furniture in apartments and studios. Moreover, the rise in disposable income is another crucial factor that allows consumers to invest in high-quality furniture that can last for longer periods. Besides, there is a surge in consumer interest towards modern or trendy furniture that can enhance the aesthetic appearance of the place as well as offer the necessary functionalities.
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Widespread usage of sustainable furniture; rising demand for minimalist furniture; prominence of vintage furniture pieces; and rising demand for smart and tech-integrated furniture are the major trends impacting the market growth.
Feb 19th 2021
Ingka Centres, a leading shopping centre, purchased land in Noida, India, to expand the presence of its retail and home furnishing goods and services.
Apr 11TH 2022
AFC Furniture Solutions acquired Xbench, Vibrant, and Livo, the brands of Wipro enterprises, to expand its furniture operations across the country.
August 23rd 2022
Wakefit, a home furnishing brand, announced the opening of its largest furniture manufacturing unit in Tamil Nadu, which spreads across a 600,00 square feet area.
Jan 18th 2024
Stanley Lifestyles, a luxury furniture brand, aims to expand its offline stores in tier 1 and tier 2 cities of India, targeting INR 550 crore revenue in FY25.
Sustainable furniture materials have become imperative
Interior designers and homeowners are readily investing in sustainable furniture materials such as ethically sourced wood or bamboo, due to the growing environmental consciousness.
Minimalism has gained prominence in the Indian market
Consumers are gradually shifting towards basic and minimalist furniture designs which consist of neutral colours and clean-cut edges to achieve a sophisticated look.
The growing popularity of vintage and antique furniture
The demand for vintage furniture is driven by the wish to own timeless and one-of-a-kind pieces that hold sentimental value or add character to a space.
Increased integration of smart technology into furniture
The demand for high-tech furniture is expected to increase in the coming years as it makes daily tasks more convenient and easier for consumers.
One of the crucial market size of furniture industry in India is growing popularity of sustainable furniture materials that are ethically produced or recyclable in nature. For example, medium-density fibreboard, which is manufactured from discarded wood portions, that can be recycled for further use offers a cost-effective and eco-friendly solution. Furniture brands are also incorporating a green production process, which involves the usage of renewable energy sources such as solar or hydropower energy as it does not cause carbon emissions.
The indian furniture market size is strongly driven by the deployment of cutting-edge technologies into furniture for multi-task purposes. For instance, wireless charging technology can be found in furniture such as side tables, which allow users to charge USB-enabled devices without the use of cables. Speakers and RGB lighting can also be found in a range of smart furniture to create an immersive audio experience as well as a cosy atmosphere.
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“Indian Furniture Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Material
Market Breakup by Sector
Market Breakup by End-Use
Market Breakup by Distribution Channel
Market Breakup by Region
Wooden furniture continues to dominate the market due to its versatility and eco-friendly nature.
As per the India furniture market analysis, wood occupies a significant portion of the market share as it is one of the most widely available raw materials in the country. It can be easily crafted into various shapes and designs and offers a timeless appearance to the furniture. Factors such as durability, long life, and minimal maintenance of wood also boost the segment growth.
Furniture made using plastic is also expected to gain prominence in the Indian market as it is cost-effective, recyclable, and lightweight, which makes it easy to move compared to heavier materials such as wooden or metallic chairs.
The residential sector is a significant contributor to the India furniture market revenue, primarily driven by evolving consumer lifestyles.
The residential sector accounted for a major market share, due to the growing demand for home furnishing items that can make the user's life convenient. Evolving consumer lifestyle, as well as urbanisation, has led to the adoption of modern, sleek furniture designs that enhance the living space. The prevalence of nuclear families has further bolstered the demand for small-sized furniture suitable for apartments.
Meanwhile, the growth of the commercial sector is expected to aid the market, as end users including educational institutes, hotels, and hospitals heavily rely on furniture for their specific requirements.
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The market players are focusing on product innovation, utilising technologies and materials that can enhance the functionality and sustainability of end products.
Godrej & Boyce Manufacturing Company Limited
Godrej & Boyce, a flagship of Godrej group, is a distinguished company based in Mumbai, India. Some of its specialities include furniture, appliances, security solutions, locking solutions, and AV solutions, among others.
Wakefit Innovations Pvt. Ltd
Wakefit Innovations, based in Bengaluru, India, is a home sleep solutions company. Some of its common furnishing products include bed sheets, pillows, rugs, carpets, and cushions, among others.
Nilkamal Limited
Nilkamal, founded in 1981 and based in Mumbai, India, is one of the largest producers of moulded furniture worldwide. The company has a strong network of over 20000 dealers across the country.
Ikea
Ikea, a home furniture retailer, announced in January 2024, that it is planning to cut down the price of its products by 20 per cent to allow more customers to purchase its products.
Several furniture manufacturers are focused on acquisition and partnership efforts to combine their resources and strengthen their market position by penetrating more regions in the country. These partnerships also allow them to expand their product offerings and adapt to changing market trends, reaching a wider consumer base. Their combined efforts are also expected to foster innovations in furniture designs, further enhancing brand reputation.
South India accounts for a substantial India furniture market share, owing to the rising presence of renowned furnishing companies in the region. Ikea Hyderabad was the first Ikea-based store in India, which established its strong footing in the Southern region due to the versatility and timelessness of its products.
North India is also anticipated to witness robust growth in the coming years, due to its high population, which is expected to fuel the demand for furnishing products. Factors such as rapid urbanisation as well as rising job opportunities in the metropolitan area of North are also expected to provide enhanced growth opportunities to the market.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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 (2018-2023)
8.3 Global Furniture Market Forecast (2024-2032)
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 (2018-2023)
9.3 India Furniture Market Forecast (2024-2032)
10 India Furniture Market by Material
10.1 Metal
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Wood
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Plastic
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 India Furniture Market by Sector
11.1 Organised
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Unorganised
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India Furniture Market by End-Use
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Hospitality
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 India Furniture Market by Distribution Channel
13.1 Supermarkets and Hypermarkets
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Speciality Stores
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Online
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 India Furniture Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 West and Central India
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 East India
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South India
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
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 2032
2. India Furniture Market: Key Industry Highlights, 2018 and 2032
3. India Furniture Historical Market: Breakup by Material (USD Million), 2018-2023
4. India Furniture Market Forecast: Breakup by Material (USD Million), 2024-2032
5. India Furniture Historical Market: Breakup by Sector (USD Million), 2018-2023
6. India Furniture Market Forecast: Breakup by Sector (USD Million), 2024-2032
7. India Furniture Historical Market: Breakup by End-Use (USD Million), 2018-2023
8. India Furniture Market Forecast: Breakup by End-Use (USD Million), 2024-2032
9. India Furniture Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
10. India Furniture Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
11. India Furniture Historical Market: Breakup by Region (USD Million), 2018-2023
12. India Furniture Market Forecast: Breakup by Region (USD Million), 2024-2032
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
In 2023, the market reached an approximate value of USD 25.64 billion.
The market is estimated to grow at a CAGR of 10.9% between 2024 and 2032.
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 trends aiding the market include the growing demand for sustainable furniture materials, the rising trend of minimalism, the growing popularity of vintage and antique furniture, and the increased integration of smart technology into 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 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.
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