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Report
India Furniture Market Report and Forecast 2024-2032
Market Report I 2023-12-11 I 205 Pages I EMR Inc.
India Furniture Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the India furniture market grew significantly in 2023. Aided by the rising urban population, an increasing number of nuclear families, and the influx of international furniture brands, the market is projected to further grow at a CAGR of 10.9% between 2024 and 2032.
The furniture industry in India boasts an eclectic mix of traditional handcrafted pieces and modern, engineered products. Furniture items, be it for residential, commercial, or institutional purposes, have seen a consistent growth in demand, especially with the booming real estate sector and increased infrastructure spending.
One of the driving forces behind the India furniture market growth is the considerable shift towards urban living and contemporary housing. The rapid urbanisation, coupled with a rise in disposable income, has made consumers more inclined towards investing in quality and aesthetically appealing furniture. This trend is further amplified by the influence of global home decor and interior design trends on the Indian populace.
As per the India furniture market analysis, the increasing number of nuclear families in urban areas has directly influenced the spike in demand for multifunctional and compact furniture. The need for space-saving solutions in urban apartments is further propelling innovations and design shifts in the furniture sector.
The influx of global furniture giants, such as IKEA, has given a significant boost to the market. Their entry has not only expanded the product offerings but has also heightened consumer expectations, pushing domestic manufacturers to elevate their quality and design standards.
In addition to the international brands, the digital revolution has played a pivotal role in propelling the India furniture market demand. Online retail platforms, both exclusive furniture e-commerce sites and general ones, have democratised furniture shopping, making a diverse range of products accessible to consumers across the nation. The convenience of online shopping, coupled with the extensive variety and competitive pricing, has attracted a vast number of digital-savvy consumers.
Initiatives by the Indian government, such as the 'Make in India' campaign, have provided a supportive environment for the furniture industry. Emphasising domestic production and reduced import dependencies, the campaign encourages indigenous manufacturers and boosts local craftsmanship, which further contributes to the India furniture market size.
Market Segmentation
The market can be divided based on material, sector, end-use, distribution channel, and region.
Market Breakup by Material
- Metal
- Wood
- Plastic
- Others
Market Breakup by Sector
- Organised
- Unorganised
Market Breakup by End Use
- Residential
- Commercial
- Hospitality
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Speciality Stores
- Online
- Others
Market Breakup by Region
- North India
- West and Central India
- East India
- South India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India furniture market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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
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