India Furniture Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 9.3% (2024-2032)
The growing demand for modern and stylish furniture due to rapid urbanization, along with inflating income levels of individuals, is offering a favorable market outlook in India. According to IMARC Group, the India furniture market size reached USD 23.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 54.3 Billion by 2032, exhibiting a growth rate (CAGR) of 9.3% during 2024-2032.
India Furniture Industry Trends and Drivers:
The India furniture market is expanding rapidly, owing to several interconnected factors. Primarily, the market is driven by the developing real estate and hotel industries, along with rising consumer demand for contemporary, space-efficient furniture. Besides this, more people are moving into cities as urbanization rises, necessitating small-space-efficient furniture that serves multiple purposes. Additionally, increasing disposable incomes as well as an expanding middle class are boosting the demand for premium, aesthetically appealing home furnishings. In line with these factors, local and international brands are expanding their presence through these digital channels, which has positively impacted the growth of the India furniture market. Furthermore, the shift towards online retailing is also a major trend, with consumers seeking convenience, variety, and competitive pricing through e-commerce platforms.
Sustainability and innovation are also becoming significant trends in the India furniture market. In addition to these factors, consumers are increasingly seeking eco-friendly, durable furniture made from recycled or sustainable materials like bamboo and reclaimed wood. A growing awareness of environmental issues is also supporting this shift. Meanwhile, manufacturers are responding by introducing furniture that meets these demands while incorporating modern designs and functionality. Moreover, the rise of smart homes has also encouraged innovation in the sector, with smart furniture designed to integrate with home automation systems gaining popularity. Apart from this, the market is poised for continued growth as these drivers align with evolving consumer preferences for style, sustainability, and convenience. Consequently, the convergence of these factors is expected to propel the expansion of the India furniture market in the coming years.
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India Furniture Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Material:
- Metal
- Wood
- Plastic
- Glass
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by End Use:
- Residential
- Commercial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Cello World Private Limited
- Damro Furnitures Pvt. Ltd.
- Durian Industries Ltd.
- Godrej & Boyce Manufacturing Company Limited
- IKEA India (Inter IKEA Holding B.V.)
- Nilkamal Limited
- Supreme Industries Ltd.
- Usha Shriram Enterprises Pvt. Ltd.
- Wakefit Innovations Pvt. Ltd
- Wipro Consumer Care and Lighting Group (Wipro Enterprises Private Limited)
- Zuari Furniture
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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