India Furniture Market
India Furniture Market, By Material (Wood, Metal, Plastic, Others), By Application (Home Furniture, Office Furniture, Hospitality Furniture, Others), By Distribution Channel (Supermarkets And Hypermarkets, Specialty Stores, Online, Others), By Region (North India, South India, East India, West India) Trend Analysis, Competitive Market Share & Forecast, 2018-2028
- Published Date: May 2022
- Report ID: BWC22141
- Available Format: PDF
- Page: 119
Report Overview
India furniture market is flourishing owing to the increasing disposable income of the consumers and rising expenditure toward home decor along with increasing construction of various residential, commercial, and industrial facilities due to infrastructural development...
India Furniture Market- Industry Trends & Forecast Report 2028
India furniture market was worth USD 23.3 billion in 2021 and is further projected to reach to USD 35.9 billion by the year 2028, growing at a CAGR of 6.40% during the forecast period. The market is likely to witness growth over the forecast period owing to the increasing disposable income of the consumers and rising expenditure toward home decor. Furthermore, increasing construction of various residential, commercial, and industrial facilities due to infrastructural development is anticipated to boost the market growth during the forecast period.
Furniture - Overview
A piece of furniture is a movable object that is primarily used for seating and other activities such as sleeping. Stools, chairs, sofas, beds, and hammocks are some of the most popular and commonly used furniture. This furniture is made of a wide range of materials including metal, plastic, wood, etc. Various techniques of woodworking joints are applied to making furniture that often reflects the local culture. Furniture is also considered essential in enhancing the decor and beauty of the house or commercial space.
India Furniture Market Forecast and Trends
Growth Drivers
Increasing Disposable Income of Consumers
India’s economy is the fastest developing economy globally. With fast economic development in India, the disposable earnings of the customers are also increasing, resulting in better spending closer to their dreams including shopping homes and domestic decorations. Furthermore, there has also been an enormous rise within the working-class population in India, which is also anticipated to steer the India furniture market growth within the forecast period.
Expanding Online Sales of Furniture
The Indian e-trade industry is a number of the fastest-growing sectors in India. It is hastily seeping into the furniture industry as well with increasing launches of applications and websites from leading furnishings groups. The customers have the benefit of browsing via an extensive range of merchandise based on their desires and budgets. They can also access vital information along with size, material, etc., as well as examine other brands on those online platforms, which acts as a contributing factor for the growth of the India furniture market.
Restraints
High Penetration of Unorganized Sector
The India furniture market has a deep penetration of the unorganized sector in furniture production. This includes local carpenters and freelance unregistered furniture makers. Since India is a price-sensitive market, the furniture buyers in this region are highly inclined towards the unorganized sector for the accumulation and customization of furniture for their residential and commercial facilities. This restrains the global furniture companies from seeping into this market and therefore acts as a major restraining factor for the market growth.
Impact of COVID-19 on India Furniture Market
The India furniture market was incredibly halted because of the COVID-19 pandemic outbreak in the country. The huge burden on the healthcare zone and national lockdown led to production and supply disruptions. Furthermore, workplaces and other business centers together with hotels, restaurants, and so on., have been additionally closed because of lockdown. All those factors led to a sharp decline in the demand for furniture in India. The market is expected to check in slow growth in the approaching years as well due to the negative effect of the pandemic on the economic stability of the customers.
India Furniture Market - By Material
Based on material, the India furniture market is segmented into wood, metal, plastic, and others. The wood segment holds the largest marketplace percentage owing to its use in nearly all sorts of furniture consisting of beds, tables, cabinets, stools, and so forth. However, the steel segment additionally covers a large marketplace proportion attributable to its advantage of customization. Metals which are used in making fixtures which include iron, aluminum, chrome steel, and many others., can be molded into any shape in addition to offering high sturdiness, also covering substantial market share.
India Furniture Market - By Application
Based on application, the India furniture market is segmented into the home furniture, office furniture, hospitality furniture, and others. The home furniture segment holds the largest share in the India furniture market because of the high demand for furnishings for bedrooms and residing rooms. The increasing pace of development of the residential buildings and rising demand for homes in India due to the growing disposable income acts as a driving factor for the residential furniture sector. However, office furniture and hospitality furniture segments are also witnessing growth.
India Furniture Market - Regional Insights
Geographically, the India furniture market is segmented into North India, South India, East India, and West India. West India dominates the market. The demand for furniture is directly influenced by property sales. The number of property sales is surging in Western states such as Maharashtra, particularly in Mumbai and Pune due to the increasing working-class population in this region. However, North India also covers a substantial market share owing to the high purchasing power of consumers in this region.
Competitive Landscape
The leading market players of the India furniture market are Godrej Interio, Nilkamal Furniture, Zuari Furniture, Wipro Furniture, Durian, Hulsta, Usha Lexus Furniture, Ikea, Damro, Evok, and other prominent players.
The India furniture market is highly fragmented with the presence of several global and regional industry participants. The unorganized sector is highly dominant in this region. The companies launch new designs to attract customers and offer to customize designs to suit their needs. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Recent Development
- In February 2022, Pepperfry, the online marketplace for furniture and home decor, announced the launch of its first Studio in Hooghly and third Studio in Kolkata, with the aim to penetrate niche markets and build an omnichannel business.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2018-2021 |
Base Year – 2021 | |
Forecast – 2022 – 2028 | |
Facts Covered | Revenue in USD Billion |
Market Coverage | North India, South India, East India, and West India |
Product Service/Segmentation | By Material, By Application, By Distribution Channel, By Region |
Key Players | Godrej Interio, Nilkamal Furniture, Zuari Furniture, Wipro Furniture, Durian, Hulsta, Usha Lexus Furniture, Ikea, Damro, Evok, and other prominent players. |
By Material
- Wood
- Metal
- Plastic
- Others
By Application
- Home Furniture
- Office Furniture
- Hospitality Furniture
- Others
By Distribution Channel
- Supermarkets And Hypermarkets
- Speciality Stores
- Online
- Others
By Region
- North India
- South India
- East India
- West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- India Furniture Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Advancement/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Furniture Market Overview
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Material
- Wood
- Metal
- Plastics
- Others
- By Type
- Home Furniture
- Office Furniture
- Hospitality Furniture
- Others Furniture
- By Distribution Channel
- Supermarket
- Specialty Store
- Online
- Others
- By Region
- North India
- South India
- East India
- West India
- By Material
- Market Size & Forecast by Value, 2018-2028
- North India Furniture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Material
- By Type
- By Distribution Channel
- Market Size & Forecast by Value, 2018-2028
- South India Furniture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Material
- By Type
- By Distribution Channel
- Market Size & Forecast by Value, 2018-2028
- East India Furniture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Material
- By Type
- By Distribution Channel
- Market Size & Forecast by Value, 2018-2028
- West India Furniture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Material
- By Type
- By Distribution Channel
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership)
- Impact of COVID-19 on India Furniture Market Industry
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 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
- Lifestyle International Private Limited
- Zuari Furniture
- Durian
- EVOK
- Hulsta
- Wipro Furniture
- Other Prominent Players.
- Key Strategic Recommendations
List of Figures
Figure 1 India Furniture Segmentation
Figure 2 India Furniture Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 India Furniture Market Size, By Value (USD Million), 2018-2028
Figure 5 India Furniture Market Share, By Material, By Value, 2018-2028
Figure 6 India Furniture Market Share, By Type, By Value, 2018-2028
Figure 7 India Furniture Market Share, By Distribution Channel, By Value, 2018-2028
Figure 8 India Furniture Market Share, By Region, By Value, 2018-2028
Figure 9 North India Furniture Market Size, By Material, By Value, 2018-2028
Figure 10 North India Furniture Market Size, By Type, By Value, 2018-2028
Figure 11 North India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Figure 12 North India Furniture Market Size, By Country, By Value, 2018-2028
Figure 13 South India Furniture Market Size, By Material, By Value, 2018-2028
Figure 14 South India Furniture Market Size, By Type By Value, 2018-2028
Figure 15 South India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Figure 16 South India Furniture Market Size, By Country, By Value, 2018-2028
Figure 17 East India Furniture Market Size, By Material, By Value, 2018-2028
Figure 19 East India Furniture Market Size, By Type , By Value, 2018-2028
Figure 20 East India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Figure 21 East India Furniture Market Size, By Country, By Value, 2018-2028
Figure 22 West India Furniture Market Size, By Material, By Value, 2018-2028
Figure 24 West India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Figure 25 West India Furniture Market Size, By Type, By Value, 2018-2028
Figure 26 West India Furniture Market Size, By Country, By Value, 2018-2028
List of Tables
Table 1 India Furniture Market Size, By Material, By Value, 2018-2028
Table 2 India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Table 3 India Furniture Market Size, By Type By Value, 2018-2028
Table 4 India Furniture Market Size, By Region, By Value, 2018-2028
Table 5 North India Furniture Market Size, By Material, By Value, 2018-2028
Table 6 North India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Table 7 North India Furniture Market Size, By Type, By Value, 2018-2028
Table 8 North India Furniture Market Size, By Country, By Value, 2018-2028
Table 9 South India Furniture Market Size, By Material, By Value, 2018-2028
Table 10 South India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Table 11 South India Furniture Market Size, By Type, By Value, 2018-2028
Table 12 South India Furniture Market Size, By Country, By Value, 2018-2028
Table 13 East India Furniture Market Size, By Material, By Value, 2018-2028
Table 14 East India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Table 15 East India Furniture Market Size, By Type, By Value, 2018-2028
Table 16 East India Furniture Market Size, By Country, By Value, 2018-2028
Table 17 West India Furniture Market Size, By Material, By Value, 2018-2028
Table 18 West India Furniture Market Size, By Distribution Channel, By Value, 2018-2028
Table 19 West India Furniture Market Size, By Type, By Value, 2018-2028
Table 20 West India Furniture Market Size, By Country, By Value, 2018-2028
Table 21 Godrej and Boyce Manufacturing Company Limited Company Overview
Table 22 Godrej and Boyce Manufacturing Company Limited Financial Overview
Table 23 Nilkamal Limited Company Overview
Table 24 Nilkamal Limited Financial Overview
Table 25 IKEA India Private Limited Company Overview
Table 26 IKEA India Private Limited Financial Overview
Table 27 Durian Industries Limited Company Overview
Table 28 Durian Industries Limited Financial Overview
Table 29 Haworth India Pvt Ltd Company Overview
Table 30 Haworth India Pvt Ltd Financial Overview
Table 31 Damro Furniture Private Limited Company Overview
Table 32 Damro Furniture Private Limited Financial Overview
Table 33 Dynasty Modular Furniture Pvt. Ltd Company Overview
Table 34 Dynasty Modular Furniture Pvt. Ltd Financial Overview
Table 35 Lifestyle International Private Limited Company Overview
Table 36 Lifestyle International Private Limited Financial Overview
Table 37 Zuari Furniture Company Overview
Table 38 Zuari Furniture Financial Overview
Table 39 Durian Company Overview
Table 40 Durian Financial Overview
Table 41 EVOK Company Overview
Table 42 EVOK Financial Overview
Table 43 Hulsta Company Overview
Table 44 Hulsta Financial Overview
Table 45 Wipro Furniture Company Overview
Table 46 Wipro Furniture Financial Overview
Market Segmentation
By Material
- Wood
- Metal
- Plastic
- Others
By Application
- Home Furniture
- Office Furniture
- Hospitality Furniture
- Others
By Distribution Channel
- Supermarkets And Hypermarkets
- Speciality Stores
- Online
- Others
By Region
- North India
- South India
- East India
- West India
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