India furniture market stood at $ 21 billion in 2018 and is projected to grow to over $ 31 billion by 2024, exhibiting a CAGR of around 7% during 2019-2024, on account of growing real estate and hospitality industries. Other key factors expected to drive the market are increasing government investments in infrastructure development and rising demand for luxury and premium furniture from certain consumer sections. Additionally, rising disposable income is influencing expenditure on comfortable lifestyle, which is expected to provide growth opportunities to furniture market players in the coming years.

In terms of supply, India furniture market is categorized into domestic and imported segments. Among the types of supply, domestic category accounted for majority of the country’s furniture market in 2018 and the trend is expected to continue in the coming years. The unorganized segment dominates India furniture market, as it offers cheaper products in comparison to the ones available through the organized category. Moreover, product customization availability in the unorganized sector is also expected to aid the segment’s leading market position during the forecast period.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast India furniture market size.
  • To forecast India furniture market based on supply, sector, type, product type, point of sale, raw material type, city and regional distribution.
  • To identify drivers and challenges for India furniture market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India furniture market.
  • To conduct the pricing analysis for India furniture market.
  • To identify and analyze the profile of leading players operating in India furniture market.

 

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Some of the major players operating in India furniture market are Godrej & Boyce Manufacturing Company Limited, Nilkamal Limited, Durian Industries Limited, Forte Furniture Products India Private Limited, Haworth India Private Limited, Featherlite Office Systems Pvt. Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furniture Private Limited, Dynasty Modular Furniture Pvt. Ltd. and IKEA India Private Limited.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of furniture manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the country.

TechSci Research calculated India furniture market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.


Key Target Audience:

  • Furniture manufacturers, distributors and other stakeholders
  • Potential investors
  • Organizations, forums and alliances related to furniture
  • Government bodies such as regulating authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.

Report Scope:

In this report, India furniture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, by Supply
    • Domestic
    • Imported
  • Market, by Sector
    • Organized
    • Unorganized
  • Market, by Type
    • Home Furniture
    • Office Furniture
    • Institutional Furniture
  • Market, by Product Type
    • Sofa
    • Bed
    • Wardrobe
    • Dining Set
    • Others
  • Market, by Point of Sale
    • Exclusive Showrooms
    • Online
    • Supermarkets/Hypermarkets
    • Multi-brand Showrooms
    • Others
  • Market, by Raw Material Type
    • Metal
    • Wood
    • Plastic
  • Market, by City
    • Hyderabad
    • Mumbai
    • Chennai
    • Bengaluru
    • Delhi/NCR
    • Kolkata
    • Pune
    • Ahmedabad
    • Others
  • Market, by Region
    • North
    • West
    • South
    • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies operating in India furniture market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.       Product Overview

2.       Research Methodology

3.       Analyst View

4.       India Woodwork Industry Outlook (Qualitative) focused on Window, Doors & Joinery

4.1.    Key Participants in Supply Chain

4.2.    Key Raw Materials Supply Centres

4.2.1.Key Production Hubs

4.2.2.Key Raw Material Centres

4.3.    Key Organized Players

4.4.    Mechanization in Woodworking Industry

4.4.1.Role and importance of mechanization in the production process at different stages (from cutting & shaping of boards to final assembly)

4.4.2.Mechanization practices used in the production process at different stages (from cutting & shaping of boards to final assembly)

4.4.3.Current adoption level of mechanization and expected change in next 5 years

4.4.4.Emerging Trends

4.4.4.1.   Shift from manual to semi-automatic to fully automatic machines

4.4.4.2.   Use of mechanization from Solid Wood to solid wood to wood-based panel to any other new input materials (eg: RelWood by Reliance)

4.4.4.3.   Others

5.       Global Furniture Market Outlook

6.       India Furniture Market Demand & Supply Overview

6.1.    Production

6.2.    Inventory

6.3.    Demand & Supply Gap

6.4.    Exports

6.4.1.By Key Export Countries

6.5.    Imports

6.5.1.By Key Import Countries

6.6.    Key Manufacturing Hubs

7.       India Furniture Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Supply (Domestic vs Imported)

7.2.2.By Organized Vs. Unorganized Market

7.2.3.By Type (Home Furniture, Office Furniture & Institutional Furniture)

7.2.4.By Product Type (Sofa, Bed, Wardrobe, Dining Set & Others)

7.2.4.1.   India Bed Market Outlook

7.2.4.1.1.     By Storage Vs. Non-Storage

7.2.4.1.2.     By Size (King Size, Queen Size, Single Bed & Others)

7.2.4.2.   India Sofa Market Outlook

7.2.4.2.1.     By Number of Seats

7.2.4.2.2.     By Fabric Type

7.2.4.2.3.     By Layout Type

7.2.4.3.   India Wardrobe Market Outlook

7.2.4.3.1.     By Size (Single Door, Double Door, Triple Door & Multiple Door)

7.2.4.4.   India Dinning Set Market Outlook

7.2.4.4.1.     By Seating Capacity (3 & Below; 4 to 8; & 9 & Above)

7.2.4.4.2.     By Expandable Vs. Non-Expandable

7.2.4.4.3.     By Table Top Type (Wood Top, Glass Top, Marble or Stone Top & Others)

7.2.5.By Point of Sale

7.2.6.By Raw Material Type (Metal, Plastic & Wood)

7.2.7.By Region (North, South, East, West)

7.2.8.By Leading City

7.2.9.By Company

8.       India Home Furniture Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Raw Material Type (Wood, Plastic & Metal)

8.2.2.By Offline Vs. Online Sales

8.2.3.By Room Type (Living Room, Bed Room, Dining Room, Kitchen & Others)

8.3.    Pricing Analysis

9.       India Office Furniture Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Raw Material Type (Wood, Plastic & Metal)

9.3.    Pricing Analysis

10.   India Institutional Furniture Market Outlook

10.1.  Market Size & Forecast

10.1.1.    By Value

10.2.  Market Share & Forecast

10.2.1.    By Raw Material Type (Wood, Plastic & Metal)

10.2.2.    Pricing Analysis

11.   India Kids Furniture Market Analysis

12.   Value Chain/Supply Chain Analysis

12.1.  Key participants in the Value Chain

12.2.  Margin Analysis at each participant level

13.   SWOT Analysis

14.   Market Dynamics

14.1.  Drivers

14.2.  Challenges

15.   Market Trends & Developments

16.   Policy & Regulatory Landscape

17.   India Economic Profile

18.   Competitive Landscape

18.1.  Competition Matrix

18.2.  Company Profiles

18.2.1.    Godrej & Boyce Manufacturing Company Limited

18.2.2.    Nilkamal Limited

18.2.3.    Durian Industries Limited

18.2.4.    Forte Furniture Products India Private Limited

18.2.5.    Haworth India Private Limited

18.2.6.    Featherlite Office Systems Pvt. Ltd.

18.2.7.    Usha Shriram Enterprises Pvt. Ltd.

18.2.8.    Damro Furniture Private Limited

18.2.9.    Dynasty Modular Furniture Pvt. Ltd.

18.2.10.    IKEA India Private Limited

19.   Strategic Recommendations

  • List of Figures

    Figure 1: India Key Production Hubs for Woodwork Industry

    Figure 2: India Key Raw Material Supply Centers for Woodwork Industry

    Figure 3: India Furniture Imports, By Value, FY2014-FY2018 (USD Million)

    Figure 4: Key Import Countries for India Furniture Market, By Value, FY2018

    Figure 5: India Furniture Exports, By Value, FY2014-FY2018 (USD Million)

    Figure 6: Key Export Countries for India Furniture Market, By Value, FY2018

    Figure 7: Key Manufacturing Hubs for Furniture Industry

    Figure 8: India Furniture Market Size, By Value (USD Billion), 2014-2024F

    Figure 9: Demand for Residential Space Across Top 8 Cities in India, By Middle Income Group (MIG)+High Income Group (HIG), As of 2017 (‘000 Units)

    Figure 10: India Furniture Market Share, By Supply, By Value, 2014-2018

    Figure 11: India Furniture Market Share, By Unorganized Vs Organized, By Value, 2014–2024F

    Figure 12: India Furniture Market Share, By Type, By Value, 2014–2024F

    Figure 13: India Retail Industry Size, By Value, 2013-2017 & 2020F (USD Billion)

    Figure 14: India Furniture Market Share, By Product Type, By Value, 2014–2024F

    Figure 15: India Bed Market Size, By Value (USD Billion), 2014-2024F

    Figure 16: India Bed Market Share, By Storage Vs Non-Storage, By Value, 2014–2024F

    Figure 17: India Bed Market Share, By Size, By Value, 2014–2024F

    Figure 18: India Sofa Market Size, By Value (USD Billion), 2014-2024F

    Figure 19: India Sofa Market Share, By Number of Seats, By Value, 2014–2024F

    Figure 20: India Sofa Market Share, By Fabric Type, By Value, 2014–2024F

    Figure 21: India Sofa Market Share, By Layout Type, By Value, 2014-2024F

    Figure 22: India Wardrobe Market Size, By Value (USD Billion), 2014-2024F

    Figure 23: India Wardrobe Market Share, By Size, By Value, 2014–2024F

    Figure 24: India Dinning Set Market Size, By Value (USD Billion), 2014-2024F

    Figure 25: India Dining Set Market Share, By Seating Capacity, By Value, 2014–2024F

    Figure 26: India Dining Set Market Share, By Expandable Vs. Non-Expandable, By Value, 2014-2024F

    Figure 27: India Dining Set Market Share, By Table Top, By Value, 2014-2024F

    Figure 28: India Furniture Market Share, By Point of Sale, By Value, 2014–2024F

    Figure 29: India Furniture Market Share, By Raw Material Type, By Value, 2014–2024F

    Figure 30: India Furniture Market Share, By Region, By Value, 2018 & 2024F

    Figure 31: India Furniture Market Share, By Region, By Value, 2014–2024F

    Figure 32: India Furniture Market Share, By Leading City, By Value, 2018

    Figure 33: India Furniture Market Share, By Company, By Value, 2018

    Figure 34: India Home Furniture Market Size, By Value (USD Billion), 2014-2024F

    Figure 35: India Construction Market Size, By Value, 2012 & 2021F (USD Billion)

    Figure 36: India Home Furniture Market Share, By Raw Material, By Value, 2014–2024F

    Figure 37: India Home Furniture Market Share, By Offline Vs Online, By Value, 2014–2024F

    Figure 38: India Home Furniture Market Share, By Room Type, By Value, 2014-2024F

    Figure 39: India Office Furniture Market Size, By Value (USD Billion), 2014-2024F

    Figure 40: Demand for Commercial Space across Top 8 Cities in India, 2017 (Million Square Feet)

    Figure 41: India Office Furniture Market Share, By Raw Material, By Value, 2014–2024F

    Figure 42: India Institutional Furniture Market Size, By Value (USD Billion), 2014-2024F

    Figure 43: Foreign Tourists Arrival in India, 2010-2017 (Million)

    Figure 44: India Institutional Furniture Market Share, By Raw Material, By Value, 2014–2024F

    Figure 45: Number of Households in India, 2010-2020F (Million)

     

    List of Tables

     

    Table 1: Region-wise Key Production Hubs & Raw Material Supply Centers in India Woodwork Industry

    Table 2: Key Organized Players in India Woodwork Industry

    Table 3: Partial List of Upcoming Construction Projects in India, By Building Name, By City, By Height (Meter), By Number of Floors, By End User, By Completion Year, As of 2018

    Table 4: Partial List of Proposed Construction Projects in India, By Building Name, By City, By Height (Meter), By Number of Floors, By End User, By Completion Year, As of 2018

    Table 5: Usual Bed Dimensions Available in India

    Table 6: India Infrastructure Projects, By Region, By State, By Number of Projects, By Total Cost of Projects (USD Billion), As of April 2017

    Table 7: India Home Furniture Price Point Analysis (USD)

    Table 8: India Office Furniture Price Point Analysis (USD)

    Table 9: India Institutional Furniture Price Point Analysis (USD)

    Table 10: Select AFMT Members, By Location

    Table 11: Select AFMI Members, By Location

    Table 12: India Furniture Imports, By Type