India Furniture Market to Grow at a CAGR of 10.9% During 2024-2032, Aided by Rapid Urbanisation

The India furniture industry is being driven by rapid urbanisation in the region. This can be attributed to the rising population and the subsequent demand for residential infrastructure. The market is further expected to be fuelled by the inflating disposable incomes and improved living standards of consumers. In addition, the increasing consumer investment in household décor solutions is also projected to drive the market growth in the coming years. In this regard, consumers are increasingly seeking multifunctional furniture solutions that are not only visually appealing but also serve practical purposes.

The rising emphasis of consumers on maintaining an upscale visual appeal of their households is leading to heightened consumer investment in designer furniture solutions. For instance, a wide range of decorative furniture, such as wooden wall works, table décor, and seating solutions like bean bags, stools, and comfortable recliners, are increasingly in demand. Additionally, the growing trend of work-from-home is leading to a heightened demand for home-office set ups, such as office tables, office chairs, file cabinets, and bookshelves, among others. In this regard, various e-commerce channels are providing a wide range of furnishing solutions based on room design and budget requirements of consumers. For instance, the availability of these furniture at a variety of price points on Amazon (NASDAQ: AMZN), which further allows consumers to view and compare different articles, is expected to positively impact the industry growth in India in the forecast period.

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Market Breakup by Material, Sector, End-Use, Distribution Channel, and Region:

• The market is divided, based on material, into metal, wood, and plastic, among others.

• Based on sector, the market is segregated into organised and unorganised.

• The market is segmented, on the basis of end-use, into residential, commercial, and hospitality, among others.

• On the basis of distribution channel, the market can be categorised into supermarkets and hypermarkets, speciality stores, and online, among others.

• Region-wise, the India market for furniture can be divided into North India, West and Central India, East India, and South India.

Key Findings of the Report:

• The India market for furniture is being driven by rapid urbanisation in the region.

• The rising consumer investments in the development of household infrastructure have significantly contributed to the market expansion.

• Inflating disposable incomes and improved living standards of consumers are also aiding the industry growth.

• The availability of multifunctional furniture solutions to meet the increasing consumer demand for the same is further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the India market for furniture for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the materials, sectors, end uses, distribution channels, and major regions of furniture in India.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India furniture market are Godrej & Boyce Manufacturing Company Limited, Inter IKEA Systems B.V., Wakefit Innovations Pvt. Ltd, Nilkamal Limited, Cello World private Limited, Zuari Furniture, Durian Industries Limited, Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., Supreme Industries Ltd., and Wipro Furniture Private Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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