Home Furnishing in India Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 22.77 Billion |
| Market Size (2029) | USD 36.31 Billion |
| CAGR (2024 - 2029) | 9.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Home Furnishing in India Market Analysis
The India Home Furniture Market size is estimated at USD 22.77 billion in 2024, and is expected to reach USD 36.31 billion by 2029, growing at a CAGR of 9.78% during the forecast period (2024-2029).
India is the fifth-largest exporter and the fourth-largest consumer of furniture in the world. The demand for furniture in India is driven by several factors, such as urbanization, increasing home decor and renovation, increasing disposable incomes, changing lifestyles and consumer preferences after the COVID-19 pandemic, and the growth of e-commerce. However, India's furniture export performance is lagging behind, and it currently ranks 16th globally.
The furniture industry in India is driven by the country's rapid urbanization. A large portion of the young generation is moving to cities for better jobs and better quality of life. This indicates that people are looking for furniture in their apartments and studios. The increase in disposable income is also a major factor that allows people to invest in quality furniture that will last for a long time. Furthermore, there is a growing interest in modern or trendy furniture which can improve the look of the place and provide all the functionalities.
The growing per capita incomes of the middle class are driving the home furniture market in India. The growth of the infrastructure sectors, such as real estate and tourism, is also driving the demand for commercial furniture. In addition, India is known for its carved furniture and other specialized wood furniture.
Brands are seeking to expand their reach through local distribution partnerships and independent stores in major cities. The market is not limited to the high street, as online retailers have carved out a niche in this segment. Furniture has always been a vital part of home renovation. With the surge in residential property sales and the growing demand for a well-maintained home and stylish interiors, the furniture category has been doing quite well.
Home Furnishing in India Market Trends
Rising Residential Construction Activities Leads to Growth of Indian Furniture Market
India's surging population is driving a heightened demand for affordable housing. Notably, the housing market in major Indian cities has witnessed a notable uptick in the appetite for upscale properties like luxury apartments, villas, and penthouses. Consequently, there's been a parallel rise in the demand for furniture, spanning from sofas and dining sets to beds and chairs. This trend underscores the projected growth trajectory for the furniture market in India.
As urban migration intensifies, with more individuals relocating to have improved living standards, the demand for both housing and furniture is experiencing a significant upswing. This urban influx is translating into a surge in both residential and commercial construction, further amplifying the need for furniture to furnish these spaces.
As the housing market witnesses a surge in new homes and apartments, the demand for furniture to outfit these spaces is also rising. This trend is further fueled by increasing disposable incomes, especially in emerging economies. People who seek to enhance their living standards invest in stylish and comfortable home interiors.
The growth of the interior design and home decor sector has driven the demand for residential furniture. Today, there's a heightened emphasis on furniture that boasts good design and enhances the overall aesthetics of residential spaces. Additionally, homeowners and renters prioritize furnishings that align with their lifestyles and reflect their tastes.
Rising E-Commerce Penetration Leads to Growth in Online Furniture Industry
The online furniture segment is expected to witness the fastest growth in India as more and more furniture companies start their websites and sell their products through popular e-commerce platforms designed for young and busy consumers. The government needs to support the online furniture industry in developing internationally competitive, competent, and compliant products. The government should focus on creating furniture clusters around large particleboard plants.
With the rise of e-commerce, furniture retailers have the opportunity to reach customers all over the world. This has allowed them to offer various products, including unique and rare items previously unavailable in many markets. India's booming wood industry helps reduce furniture production costs, making it more cost-effective. The increasing trend of online and mobile shopping in India is likely to increase furniture sales through digital channels. The Indian furniture market is driven not only by the residential demand but also by the growing tourism and hospitality industry and the corporate sector. Hotels and business offices in India are growing rapidly, so the demand for furniture is rising.
Home Furnishing in India Industry Overview
The Indian home furniture market exhibits a fragmented landscape, with a few dominant players commanding a significant market share. Yet, the advent of novel technologies and product advancements has paved the way for mid-sized and smaller firms to broaden their market footprint. These agile players are securing fresh contracts and venturing into untapped markets. Noteworthy players in this evolving landscape encompass Godrej Interio, Zuari Furniture, Damro Furniture, Durian Furniture, and Nilkamal Furniture.
Home Furnishing in India Market Leaders
Godrej Interio
Zuari Furniture
Damro Furniture
Durian Furniture
Nilkamal Furniture
*Disclaimer: Major Players sorted in no particular order
Home Furnishing in India Market News
- In March 2024, India’s leading luxury furniture brand, Durian Furniture, inaugurated its new showroom. The showroom covers 21525 square feet and offers a wide selection of furniture for home and office use. The brand’s latest showroom in Guwahati, Assam, is located at the heart of the state’s capital city of Lachitnagar.
- In October 2023, Godrej Interio expanded its offline presence in North India with revenue of USD 4.5 billion, excluding this region until FY26. Currently, the brand has an 18% market share in the organized furniture industry in Delhi NCR and aims to achieve 35% market share within the next three years.
Home Furnishing in India Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Real Estate is Driving The Market
4.2.2 Increased Urbanization Is Driving The Market
4.3 Market Restraints
4.3.1 Fluctuating Price of Raw Materials
4.3.2 Limitations in Supply Chain Restraints The Market Growth
4.4 Market Opportunities
4.4.1 Custom Furniture Will Work As An Opportunity
4.4.2 Multifunctional Furniture Will Work As a Opprtunity
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Buyers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technology Innovation in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Living-Room and Dining-Room Furniture
5.1.2 Bedroom Furniture
5.1.3 Kitchen Furniture
5.1.4 Lamps and Lighting Furniture
5.1.5 Plastic and Other Furniture
5.2 By Distribution Channel
5.2.1 Home Centers
5.2.2 Flagship Stores
5.2.3 Specialty Stores
5.2.4 Online Stores
5.2.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Godrej Interio
6.2.2 Zuari Furniture
6.2.3 Durian Furniture
6.2.4 Damro Furniture
6.2.5 Nilkamal Furniture
6.2.6 IKEA
6.2.7 Ashley Furniture Industries Inc.
6.2.8 Usha Lexus Furniture
6.2.9 Evok
6.2.10 Hulsta
6.2.11 Pepperfry
6.2.12 Urban Ladder
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Home Furnishing in India Industry Segmentation
Home furniture encompasses all movable articles essential for outfitting a residence, ranging from chairs, tables, and sofas to mattresses. The India Home Furniture Market is segmented by type and distribution channel. By type, the market is segmented into living-room and dining-room furniture, bedroom furniture, kitchen furniture, lamps and lighting furniture, and plastic and other furniture, and by distribution channel, the market is segmented into home centers, flagship stores, specialty stores, online stores, and other distribution channels. The report offers market size and forecasts for the Indian Furniture Market in value (USD million) for all the above segments.
| By Product | |
| Living-Room and Dining-Room Furniture | |
| Bedroom Furniture | |
| Kitchen Furniture | |
| Lamps and Lighting Furniture | |
| Plastic and Other Furniture |
| By Distribution Channel | |
| Home Centers | |
| Flagship Stores | |
| Specialty Stores | |
| Online Stores | |
| Other Distribution Channels |
Home Furnishing in India Market Research FAQs
How big is the India Home Furniture Market?
The India Home Furniture Market size is expected to reach USD 22.77 billion in 2024 and grow at a CAGR of 9.78% to reach USD 36.31 billion by 2029.
What is the current India Home Furniture Market size?
In 2024, the India Home Furniture Market size is expected to reach USD 22.77 billion.
Who are the key players in India Home Furniture Market?
Godrej Interio, Zuari Furniture, Damro Furniture, Durian Furniture and Nilkamal Furniture are the major companies operating in the India Home Furniture Market.
What years does this India Home Furniture Market cover, and what was the market size in 2023?
In 2023, the India Home Furniture Market size was estimated at USD 20.54 billion. The report covers the India Home Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Home Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Home Furnishing Industry Report
Statistics for the 2024 India Home Furnishing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Home Furnishing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
