India Home Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India Home Furniture Market is segmented by Type (Living-Room and Dining-Room Furniture, Bedroom Furniture, Kitchen Furniture, Lamps and Lighting Furniture, and Plastic and Other Furniture) and by Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online Stores, and Other Distribution Channels).

Market Snapshot

India Home Furniture Market
Study Period: 2016 - 2026
Base Year: 2021
CAGR: >5 %

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Market Overview

The Indian home furniture market is expected to register a higher CAGR during the forecast period. Owing to the channelize process of production, distribution, and selling and increasing demand for household furniture (due to an increased spending capacity of consumers), the home furniture market in India may have an interesting growth during the forecast period. Increased per capita income of the middle class is boosting the Indian home furniture market. The growth in the infrastructure sectors, like real estate and tourism, is also responsible for the increased demand for commercial furniture in India. Moreover, the country is well-known for producing carved furniture and other specialized wood furniture. These are the key growth drivers of the home furniture industry in India. Furniture brands are looking to enhance their presence with local distribution tie-ups and stand-alone stores across major cities. The growth of this market is just not restricted to high street retail, as online players have carved a niche for themselves in this segment. Furniture has always been an important part of home improvement. With the boom in residential property purchases and the increased desire among homeowners for a well-set-up house and stylish interior, the furniture category is performing quite well.

Scope of the Report

A complete background analysis of the Indian home furniture market, which includes an assessment of the parental market, emerging trends by segments and regional markets, and significant changes in market dynamics and market overview, is covered in the report.

Product
Living-Room and Dining-Room Furniture
Bedroom Furniture
Kitchen Furniture
Lamps and Lighting Furniture
and Plastic and Other Furniture
Distribution Channel
Home Centers
Flagship Stores
Specialty Stores
Online Stores
Other Distribution Channels

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Key Market Trends

Growing Residential Real Estate

The Indian residential real estate market has been witnessing growth, owing to the increasing population, and growing demand for affordable housing accommodation. Major metropolitan cities, such as Delhi, Mumbai, Kolkata, and others, have also showcased the rising demand for luxury housing complexes, such as villas, penthouses, and apartments, in the past few years. This has augmented the need for furniture, such as sofa sets, dining sets, beds, and chairs, which is further expected to witness growth in the upcoming years as well. Even though the Indian furniture segment is highly unorganized, companies, such as Godrej Interio, Zuari furniture, and others, have been eyeing to cater to the mounting demand for the branded home furniture in the country.

India Home Furniture Market 1

Kitchen Furniture

Kitchen furniture includes modular furniture, which includes cabinets and dish case. Even though the arrival of ready to live, fully and semi-furnished apartments provided by leading builders and construction companies, the contribution of kitchen furniture in the market’s revenue remained nearly stagnant in the recent years, majorly owing to the fact that Indian customers strongly focus on customization of kitchen according to their requirements, and they are less likely to change the kitchen furniture quite frequently as other home furniture items. Moreover, the kitchen has been always observed in the back-drop for furniture products. Most Indian homeowners have utilized metal-based furniture in the kitchen, which possesses a high life cycle and provides a premium look at lower costs.

India Home Furniture Market 2

Competitive Landscape

The report covers major international players operating in the Indian home furniture market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Porters Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Value Chain Analysis of the Indian Home Furniture Market

    7. 4.7 Trends Influencing the Indian Home Furniture Market

    8. 4.8 Insights on Millennials and the Housing Market in India

    9. 4.9 Technological Innovations

    10. 4.10 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Living-Room and Dining-Room Furniture

      2. 5.1.2 Bedroom Furniture

      3. 5.1.3 Kitchen Furniture

      4. 5.1.4 Lamps and Lighting Furniture

      5. 5.1.5 and Plastic and Other Furniture

    2. 5.2 Distribution Channel

      1. 5.2.1 Home Centers

      2. 5.2.2 Flagship Stores

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Online Stores

      5. 5.2.5 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Competition Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Godrej Interio

      2. 6.2.2 Zuari Furniture

      3. 6.2.3 Durian Furniture

      4. 6.2.4 Damro Furniture

      5. 6.2.5 Nilkamal Furniture

      6. 6.2.6 IKEA

      7. 6.2.7 Ashley Furniture Industries Inc.

      8. 6.2.8 Usha Lexus Furniture

      9. 6.2.9 Evok

      10. 6.2.10 Hulsta

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE MARKET

  8. 8. APPENDIX

  9. 9. DISCLAIMER

**Subject to Availability

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Frequently Asked Questions

The India Home Furniture Market market is studied from 2016 - 2026.

The India Home Furniture Market is growing at a CAGR of >5% over the next 5 years.

Godrej Interio, Zuari Furniture, Damro Furniture, Nilkamal Furniture, Durian Furniture are the major companies operating in India Home Furniture Market.

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