Top 10 Companies Dominating the India Furniture Market

The India furniture market reached a value of about USD 25.64 billion in 2023. The market is projected to grow at a CAGR of 10.9% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid urbanisation.

Furniture, encompassing chairs, tables, beds, and cabinets, is crafted from various materials like wood, metal, and plastic. Apart from offering utility for activities such as sitting and sleeping, furniture significantly influences a space's visual appeal. It prioritises comfort and practicality, shaping the ambiance of residential areas like living rooms, bedrooms, kitchens, and dining spaces. Moreover, furniture often carries symbolic or religious importance, transcending its functional role in homes.

Table: Rate of Urbanisation and Urban Population Share of India

The rapid rate of urbanisation in India stands as a primary factor driving the India furniture market growth. With a considerable portion of the youthful population relocating to urban centres in pursuit of improved career prospects and elevated lifestyles, there emerges a heightened need for furniture in apartments and studios. This demographic shift underscores the increasing demand for furniture, reflecting the evolving preferences and aspirations of urban dwellers.

The increasing disposable income stands as another pivotal element empowering consumers to make long-term investments in premium furniture, boosting the India furniture market development. Concurrently, there's a notable uptick in consumer enthusiasm for contemporary or stylish furniture, sought for its ability to elevate the aesthetic appeal of spaces while providing essential functionalities. This shift underscores a growing consumer penchant for both durability and design sophistication in furniture choices.

In August 2022, Wakefit inaugurated its largest furniture manufacturing plant in Tamil Nadu's Hosur. Covering 600,000 sqft, it housed dedicated spaces for furniture production and warehousing. With a daily capacity to craft 5,000 beds, 2,000 sofas, and 3,000 dining tables, it could furnish around 100,000 homes monthly. The facility aimed for full backward integration in design, manufacturing, packaging, and logistics, streamlining costs and benefiting customers.

Top 10 Furniture Companies in India:

Godrej & Boyce Manufacturing Company Limited

Godrej, a trusted Indian brand since 1897, serves over 1.1 billion customers daily. Its flagship company, Godrej & Boyce (G&B), excels in diverse sectors like consumer goods, precision manufacturing, and aerospace. With revenues exceeding INR 14,796 crore and over 15,000 employees, G&B's engineering prowess impacts one-third of India's population. It leads in B2B ventures, supplying solutions for space missions, renewable energy, and national security. Recognised for values and sustainability, G&B's legacy, rooted in innovation since its founders, Ardeshir and Pirojsha Godrej, remains strong.

Inter IKEA Systems B.V.

Inter IKEA Group serves as the nexus linking IKEA franchisees, suppliers, and strategic direction to enhance everyday living. Led by Inter IKEA Holding B.V., the group collaborates on range development, supply, and retail concepts. With a focus on sustainability, they aim to optimise the IKEA Concept's implementation and foster growth. IKEA's vision is to enrich lives through well-designed, affordable home furnishings produced sustainably. With over 200,000 employees worldwide, IKEA's integrated value chain spans product development to customer sales, all united under its franchise system, engaging millions globally.

Wakefit Innovations Pvt. Ltd

Wakefit, established in 2016, aims to democratise sleep in India through affordable, innovative solutions. Founders Ankit Garg and Chaitanya Ramalingegowda conducted extensive customer research, visiting 100 homes to perfect their mattress recipe. Expanding into home solutions, Wakefit now offers furniture like sofas, TV units, and more. With strong manufacturing and R&D capabilities, the company received a Series B funding of INR 185 crores from Verlinvest and Sequoia Capital India in 2020. This investment will fuel product innovation, market expansion, and technology enhancement, prioritising consumer well-being.

Nilkamal Limited

Nilkamal Ltd., founded in 1980 by Vamanrai and Sharad Parekh, started with plastic furniture and expanded globally. Listed on NSE and BSE since 1991, its turnover exceeds INR 2093 crore. Diversified into various sectors including @Home and material handling, Nilkamal maintains its status as the world's largest producer of moulded plastic furniture. With ISO certifications and a focus on quality, it serves over 30 countries. The brand's digital platform enhances accessibility, while government recognition underscores its export prowess. Nilkamal aims for continued success with its multifaceted approach and global reach.

Cello World Private Limited

From its modest inception in 1958, Cello has evolved into a leading household conglomerate, dominating the Indian market with a wide array of consumer products. With offerings ranging from Melmoware to kitchen appliances, Cello has become synonymous with quality and choice for millions of households. Spearheading industry modernisation, the brand's 60-year journey reflects innovation, affordability, and aesthetic superiority. Continuously expanding its range to meet evolving consumer needs, Cello remains a trusted companion in homes, restaurants, and beyond, enhancing culinary experiences with its diverse product portfolio.

Zuari Furniture

Forte Furniture Products India Pvt. Ltd., a joint venture between Indian Furniture Products Ltd. (a subsidiary of Zuari Global Ltd.) and FABRYKI MEBLI “FORTE” S.A., Poland, began operations in April 2017, focusing on furniture manufacturing for the Indian market. FORTE, established in 1992, is a prominent European self-assembly furniture manufacturer, exporting to over 40 countries. With four advanced manufacturing plants in Poland, it plans expansion. Headed by Mr. Saroj Kumar Poddar, the ADVENTZ GROUP, with ventures spanning fertilisers, engineering, lifestyle products, and real estate, holds a significant presence in India's growth sectors.

Durian Industries Limited

Since its inception in 1985, Durian has evolved from a plywood and veneer pioneer to India's leading lifestyle brand, offering furniture, decor, and doors. With 40 showrooms nationwide and a growing e-commerce presence, Durian prioritises purpose in its products, serving families, individuals, and corporations. From importing furniture to establishing its own factories, Durian provides top-grade furniture, laminates, veneers, and plywood. With 55 stores and a robust online platform, Durian's state-of-the-art production facilities cater to diverse needs, including turnkey projects and premium office solutions, reflecting its relentless pursuit of excellence.

Usha Shriram Enterprises Pvt. Ltd.

Established in 1983 by Dr. Charat Ram and Mr. N. R. Dongre, Usha Shriram Enterprises boasts over three decades of experience in manufacturing and marketing home appliances. With a focus on innovation and technology, the company offers a diverse range of products including lighting, appliances, cookware, furniture, and more. Marketed under trusted brands like Usha and Eurolex, its products are renowned for quality and reliability, serving millions of satisfied customers nationwide and abroad. Usha Shriram's success lies in its talented workforce and commitment to exceeding customer expectations.

Damro Furnitures Pvt. Ltd.

Established in 1986, DAMRO has swiftly become one of the world's largest furniture manufacturers, with a presence in over 250 showrooms across South Asia. Its success is attributed to the production of high-quality, affordable furniture and exceptional customer service. With 115+ experience stores, 300+ delivery areas, and a customer base exceeding 5L satisfied repeat clients, DAMRO has provided over 70K complete household and office furniture solutions. This commitment to excellence has solidified DAMRO's position as a leader in the global furniture industry.

Supreme Industries Ltd.

Established in 1942, Supreme is a leader in India's plastics industry, processing over 5,00,000 metric tonnes of polymers annually. With 25 advanced plants equipped with world-leading technology, Supreme offers the widest range of plastic products in India. Renowned for innovation, Supreme pioneered various products including Cross-Laminated Films and SWR Piping Systems. With seven business divisions spanning Injection Moulding to Blow Moulding, Supreme provides solutions for Molded Furniture, Industrial Moulded Products, Plastic Piping Systems, and more, reflecting its commitment to quality and advancement.