India Furniture Market By Share, Size and Forecast 2029|TechSci Research

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD25.76 Billion
CAGR (2024-2029)	6.12%
Fastest Growing Segment	Online
Largest Market	North India

India furniture market is witnessing high demand and market growth in the coming years, owing to various factors such as rising investment among consumers regarding home decor, favorable policies for the companies towards ease for doing business, and growing demand through online channels.

India Furniture Market Scope

Furniture is a movable object used to make a room or building usable for living and working. Furniture includes tables, chairs, desks, beds, sofas, etc. Home furnishings include objects such as sofas, wardrobes, dining room sets, and beds placed in living rooms, bedrooms, dining rooms, kitchens, etc. Office furniture includes furniture such as desks, chairs, tables, sofas, and storage.

India Furniture Market Overview

India is the fifth largest furniture producer and the fourth largest consumer of furniture across the globe. The trade for furniture is significantly rising in the country as many new companies have entered into the furniture business in India, due to the ease of doing business policies. Moreover, the consumer’s perspective towards online channels has positively impacted the market growth as retail furniture companies have shifted to online channels to extend their services without geographical barriers for consumers. Additionally, consumer interest in home accessories has increased significantly in recent years. The impact of this factor is expected to increase over the forecast period, thereby increasing the demand for furniture over the forecast period.

India Furniture Market Drivers

According to the data provided by the Ministry of Corporate Affairs, a total of 90,051 companies were registered between January and June 2022 which was 15% more than the previous year. Thus, with the rise in registered offices in the country the demand for office furniture eventually increased. Additionally, with favorable policies implemented by government such as make in India and various other policies to enhance the ease of doing business attracted many companies to establish their business in the country. For instance, in April 2023, Gautier announce to re-enter the Indian market and plans to open multiple stores in metropolitan cities.

Furthermore, a large, young buyer base with increasing disposable income is boosting the industry. After the COVID-19 crisis, there was a significant shift in thinking about interior design, keeping home clean, hygienic, fresh, and well-equipped home as an integral part of overall lifestyle. Behavioral changes are evident in Tier 3 and Tier 4 cities as long-term sustainable thinking is increasingly linked to fashion and lifestyle; more and more buyers are looking for greener and more sustainable products. Thus, shift and high resistance towards home decor is contributing to the growth of furniture market as mentioned. People prefer new and unique furniture for their homes, offices, etc.

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India Furniture Market Trends

The demand through online channels of the furniture has significantly increased and is contributing to the growth of furniture market in India. In addition, the online furniture market saw increased sales of both general and work from home (WFH) furniture due to pent-up demand after lockdown. Therefore, brands are now enhancing their online presence to create a real-time shopping experience. To improve the customer experience, many companies have deployed a virtual reality solution that allows customers to experience the atmosphere of the store while shopping from home. Various hydraulic designs, wall-mounted work tables and sofas with pull-out beds were introduced. In line with omnichannel strategy.

Moreover, the latest trend which can be witnessed in the Indian furniture is the use of modern materials and designs. In recent years there has been a trend towards more modern styles and designs, with many companies offering furniture made from metal, plastic, and synthetic fibers. As a result, Indian furniture has become more affordable, durable, and stylish. In addition to the materials used, the design of furniture is evolving. Traditional Indian furniture is known for its intricate carvings and designs, while contemporary furniture is characterized by smooth lines and modern appeal. There is a growing trend towards eco-friendly furniture, with many companies offering furniture made from sustainable materials such as bamboo and recycled wood. The latest trend in Indian furniture is towards custom-made products. Many furniture stores now offer bespoke furniture, allowing customers to have furniture made to their specific needs. This is a great way to make sure the furniture is unique and reflects personal style.

India Furniture Market Challenges

The furniture market in India has witnessed significant constraint in the growth path due to several factors in the country. Such as the furniture market in India is highly unorganized and according to the figures provided by Financial Express, around 90% of the furniture market is unorganized and is captured by carpenters and neighborhood furniture stores. Thus, it presents a significant challenge for the organized companies which are trying to enter in the furniture market.

Additionally, due to the shortage of raw material for furniture and raw material prices are soaring. Furniture raw material such as springs, fabrics, plates, mechanisms, springs, fibers, and packing materials has increased. As a result, many companies in the furniture industry were forced to raise furniture prices in India, leading to a subsequent slump in consumer demand.

Recent Developments

In 2022, the lifestyle furniture brand “Commune” expanded into India and opened its first store in Bangalore. The brand had partnered with Bangalore-based company Bauhaus Designs to market and introduce its products to Indian consumers.
Wakefit.co, which is a D2C providers of home furnishings and sleep solutions, opened the doors to its state-of-the-art furniture factory in 2022, which is India's largest furniture manufacturing sector.
In 2022, e-commerce furniture and home goods company, Pepperfly opened two new studios in Bangalore in partnership with Vishnu's Enterprises and Little Boy Enterprises. With it, the brands hope to take advantage of this to carve out niche markets.
In 2022, Pepperfly acquired Brandmakerr which is an interior design solutions company.
Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd (RIL), acquired a 96% stake in omnichannel furniture retailer Urban Ladder in 2020.
In 2022, AFC Furniture Solutions, a workplace furniture manufacturing solutions company, acquired Xbench, Vibrant, and Livo brands designed and owned by furniture company Wipro Enterprises.
In 2022, IKEA opened its fourth store in Bengaluru which is their largest store in India among four stores. Moreover, the company is planning to open two more stores in Mumbai and Bengaluru.

Market Opportunities

New age startups and brands are increasingly developing technological and process innovations ranging from production to delivery, logistics and other touchpoints that impact the furniture value chain in our country. Product innovation is happening at the same time, with pre-engineered, low-maintenance furniture that is easy to install and customize becoming the preferred choice for today's users. The growing importance of the middle and upper middle classes in recent years has also contributed to the growth of the sector as people have access to better quality and design furniture and other home furnishings. Today, India is witnessing the new emerging demography that is highly travelled, well-informed, and has large pockets compared to others. As such, they view furniture as a lifestyle product rather than just a commodity, contributing to the success of the concept of 'subtle premium' furniture.
India is at an important position globally, as the Atmanirbhar Bharat gains momentum. Currently, the Indian economy is doing well and is recovering strongly from the disruption caused by the pandemic. Furthermore, property demand across India is starting to pick up for the first time in a decade and is expected to do similarly well over long term. Given that, especially home furnishings is a related industry and can cause an expected boom in the furniture industry.

Market Segmentation

India furniture market is segmented based on supply, organized vs unorganized market, type, product type, point of sale, raw material, region, leading city, and competitional landscape. Based on supply, the market is segmented into domestic and imported. Based on type, market is segmented into home furniture, office furniture, and institutional furniture. Also, segmentation of the market based on product type, is bed, soda, wardrobe, dining set, and others. Based on point of sale, the market is segmented into offline and Online. Based on raw material, the market is divided into wood, metal, and plastic. Also, the market is segmented based on leading cities. The market studies the regional segmentation divided among north, south, west, and east.

Company Profiles

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

Attribute	Details
Base Year	2023
Historic Data	2019 – 2022
Estimated Year	2024
Forecast Period	2025– 2029
Quantitative Units	Value in USD Million, CAGR for 2019-2023 and 2024-2029
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Supply Organized Vs. Unorganized Market Type Product Type Point of Sale Raw Material Region Leading City Company
Regional scope	North, West, South, East
Key Companies Profiled	Godrej and Boyce Manufacturing Company Limited, Nilkamal Limited, Featherlite Office Systems Pvt. Ltd., IKEA India Private Limited, Durian Industries Limited, Forte Furniture Products India Private Limited, Haworth India Pvt Ltd, Usha Shriram Enterprises Pvt. Ltd., Damro Furniture Private Limited, Dynasty Modular Furniture Pvt. Ltd., are among the major market players in the India furniture market.
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

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

India Furniture Market, By Supply:

Domestic
Imported

India Furniture Market, By Organized Vs. Unorganized:

Unorganized
Organized

India Furniture Market, By Type:

Home Furniture
Office Furniture
Institutional Furniture

India Furniture Market, By Product Type:

Bed
Sofa
Wardrobe
Dining Set
Others

India Furniture Market, By Point of Sale:

Offline
Online

India Furniture Market, By Raw Material:

Wood
Metal
Plastic

India Furniture Market, By Region:

North
West
South
East

India Furniture Market, By Leading City:

Delhi NCR
Mumbai
Bengaluru
Hyderabad
Kolkata
Chennai
Rest of India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present 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).

India Furniture Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Executive Summary

4. India Woodwork Industry Outlook

4.1. Key Participants in Supply Chain

4.2. Key Raw Materials Supply Centers

4.2.1. Key Production Hubs

4.2.2. Key Raw Material Centers

4.3. Key Organized Players

4.4. Mechanization in Woodworking Industry

4.4.1. Role and Importance of Mechanization in Production Process

4.4.2. Mechanization Practices Used in Production Process

4.4.3. Current Adoption Level of Mechanization and Forecast

4.4.4. Emerging Trends

4.4.4.1. Shift from Manual/Semi-Automatic to Fully Automatic Machines

4.4.4.2. Use of Mechanization from Solid Wood to Wood-based Panel and Other Inputs

4.4.4.3. Other Trends

5. Global Furniture Market Outlook

6. India Furniture Market Demand & Supply Outlook

6.1. Production

6.2. Inventory

6.3. Demand & Supply Gap

6.4. Imports

6.4.1. By Key Import Countries

6.5. Exports

6.5.1. By Key Export 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 (Bed, Sofa, Wardrobe, Dining Set & Others)

7.2.4.1. India Bed Market Outlook

7.2.4.1.1. By Non-Storage Vs. Storage

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

7.2.4.1.3. By Point of Sale

7.2.4.1.4. By Region

7.2.4.1.5. Product Benchmarking

7.2.4.2. India Sofa Market Outlook

7.2.4.2.1. By Number of Seats ((3 to 5, 2 and Below & 6 and Above)

7.2.4.2.2. By Fabric Type (Linen, Leather, Wool & Others)

7.2.4.2.3. By Layout Type (Straight, L Shaped (Segmental), Curved & Others)

7.2.4.2.4. By Point of Sale

7.2.4.2.5. By Region

7.2.4.2.6. Product Benchmarking

7.2.4.3. India Wardrobe Market Outlook

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

7.2.4.3.2. By Point of Sale

7.2.4.3.3. By Region

7.2.4.3.4. Product Benchmarking

7.2.4.4. India Dinning Set Market Outlook

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

7.2.4.4.2. By Non-Expandable Vs. 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 (Offline Vs. Online)

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

7.2.7. By Leading City

7.2.8. By Region (North, South, West & East)

7.2.9. By Company (FY2021)

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 (Wood, Metal & Plastic)

8.2.2. By Point of Sale

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

8.2.4. By Leading City

8.2.5. By Region

8.2.5.1. North India Home Furniture Market

8.2.5.1.1. By Room Type

8.2.5.2. South India Home Furniture Market

8.2.5.2.1. By Room Type

8.2.5.3. West India Home Furniture Market

8.2.5.3.1. By Room Type

8.2.5.4. East India Home Furniture Market

8.2.5.4.1. By Room Type

8.3. Pricing Analysis

8.4. Region Wise Cultural Influence on Living Room and Bed Room

8.5. SWOT Analysis – Home Furniture

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 (Wood, Metal & Plastic)

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 (Wood, Metal & Plastic)

10.3. Pricing Analysis

11. India Kids Furniture Market Analysis

12. India Recliners Market Analysis

13. Supply Chain Analysis

13.1. Key Participants in the Value Chain

13.2. Margin Analysis at Each Participant Level

14. SWOT Analysis

15. Impact of COVID-19 on India Furniture Market

16. Market Dynamics

16.1. Drivers

16.2. Challenges

17. Market Trends & Developments

18. Policy and Regulatory Landscape

19. India Economic Profile

20. Competitive Landscape

20.1. Competition Matrix

20.2. Company Profiles

20.2.1. Godrej and Boyce Manufacturing Company Limited

20.2.2. Nilkamal Limited

20.2.3. Featherlite Office Systems Pvt. Ltd.

20.2.4. IKEA India Private Limited

20.2.5. Durian Industries Limited

20.2.6. Forte Furniture Products India Private Limited

20.2.7. Haworth India Pvt Ltd

20.2.8. Usha Shriram Enterprises Pvt. Ltd.

20.2.9. Damro Furniture Private Limited

20.2.10. Dynasty Modular Furniture Pvt. Ltd.

20.2.11. Lifestyle International Private Limited

21. Strategic Recommendations/Action Plan

22. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What are the drivers of the India Furniture market?

India furniture market is witnessing high demand owing to the rising number of offices in the country and the changing consumer preferences to buy new and unique furniture for home decor purposes.

What are the trends in the India Furniture Market?

There are various trends which are driving the India furniture market such as consumer are purchasing furniture through online portals as it provides them various options, convenience, and competitive pricing.

What challenges are being faced by India Furniture Market?

The challenges in the India furniture market are, the presence of unorganized players as it creates a lot of obstacles for organized and new brands to enter into the market and create market presence. Moreover, the shortage of raw materials further results into higher prices of the raw materials and create obstacles for the market growth.

What are the major companies operating in the India Furniture Market?

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Press Release

India Furniture Market to be Dominated by Home Furniture, Until 2029

Jul, 2023

The growing consumer interest towards home decor, rising trend of online shopping among consumers, and rapid growth of real estate sector in the country is driving the growth of India furniture marke

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