India Furniture Market Size, Share, Demand and Forecast 2024-2032

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.

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India Furniture Industry Trends and Drivers:

The India furniture market is expanding rapidly, owing to several interconnected factors. Primarily, the market is driven by increasing disposable incomes, fast urbanization, and the growing need for multipurpose as well as aesthetically pleasing furniture. Besides this, the need for contemporary furniture made for small living spaces is being heightened by the rise in nuclear families and the strong real estate market, especially in cities. Additionally, the growth in home renovation and interior design activities, along with the influence of global furniture trends, is significantly contributing to the expansion of the India furniture market. In line with these factors, the increasing penetration of organized retail and e-commerce platforms, offering a diverse range of furniture with convenient delivery and assembly services, is further propelling the market.

A key trend in the India furniture market is the growing focus on eco-friendly and sustainable furniture options, driven by rising environmental awareness among consumers. Manufacturers are incorporating materials like reclaimed wood, bamboo, and other biodegradable materials to meet this demand. Moreover, customization and modular furniture are also gaining traction, catering to the needs of urban households seeking flexible and personalized designs. In addition to these factors, the adoption of advanced manufacturing technologies, such as 3D printing and automation, is enhancing production efficiency and product quality. Furthermore, the expansion of co-working spaces and the hospitality sector is also contributing to the demand for commercial furniture. These factors, coupled with favorable government initiatives to promote domestic manufacturing under programs like “Make in India,” are expected to drive the growth of the India furniture market in the coming years.

The India furniture market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.

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.