Market Size of India Home Furniture Industry
| 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.
