India Furniture Market Overview
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 US$ 23.9 Billion in 2023 and grow at a CAGR of 9.3% to reach US$ 54.3 Billion by 2032.
India Furniture Industry Trends and Drivers:
As cities expand and more people migrate from rural to urban areas, the need for functional and aesthetic home and office furnishing increases. Additionally, people are willing to invest in higher-quality and designer furniture that enhances their living standards. Another critical driver is the thriving real estate sector in the country. The rising number of residential and commercial places in India is propelling the market growth. The construction of new homes, apartments, and office buildings is catalyzing the demand for diverse furniture types, ranging from basic necessities to luxury items. Apart from this, the increasing awareness among individuals about interior design is impelling the market growth in India. Exposure to international styles through social media and global travel is leading to a shift in consumer preferences toward contemporary and innovative designs. Indian consumers are now more inclined to experiment with different styles, materials, and finishes, which is strengthening the market growth.
Technological advancements in the furniture industry benefit in enhancing functionality, design, and user experience. The integration of smart technology into furniture is leading to the development of products that offer additional functionalities. Adjustable beds with sleep tracking, desks with integrated wireless charging and universal serial bus (USB) ports, and chairs that monitor posture and provide feedback are increasingly preferred by individuals in the country. These innovations cater to the growing demand for connected and multifunctional home and office environments. Moreover, advancements in material science are leading to the development of sustainable and eco-friendly materials, such as recycled plastics, bamboo, and engineered wood products. Furthermore, the convenience of e-commerce is making it easier for individuals to browse and purchase furniture from the comfort of their homes. Online platforms offer a wide variety of choices, competitive pricing, and the convenience of home delivery, making them a popular choice among a wider consumer base in India.
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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.
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