India Furniture Market Size Likely to Grow at a CAGR of 7.73% By 2033

The India Furniture Market was valued at USD 15,880 million in 2024 and is expected to reach USD 32,298.7 million by 2033, at a CAGR of 7.73% during the forecast period 2024 – 2033.

India Furniture Market: Overview

Furniture is an essential component of the Indian household and commercial sectors. The demand for furniture products is increasing across various end-use industries, such as commercial and residential applications.

Various factors, such as increasing investment in the residential sector, growing demand for aesthetic and appealing home decorations, and increasing renovation and reconstruction activities, are mainly driving the growth of the Indian furniture market.

Furthermore, growing urbanization, increasing demand for household and modular luxury furniture products, and growing investment in real estate projects in tier 1 and tier 2 cities are expected to boost the demand for residential furniture during the forecast period.

Growing investment in the Indian furniture sector, due to the easy availability of raw materials such as teak and rosewood and supportive government policies, is expected to keep its dominance during the forecast period.

However, various factors, such as growing stringent regulations on the use of wood in furniture production, fluctuating raw material prices, a lack of universal directives pertaining to furniture production, and growing counterfeiting of furniture products, are restraining the market growth.

Growing penetration of E-commerce channels in the furniture industry is expected to create lucrative opportunities for the market during the forecast period. The key players operating in the market are launching their e-commerce platforms and collaborating with third parties e-commerce channels to enhance their product outreach. Furthermore, ease of e-commerce shopping, home delivery options, and price comparison options are some factors driving the demand for furniture on e-commerce platforms.

The Indian furniture market is segmented by product type, distribution channels, materials, type of market, end users, and region. By Product type, the bedroom segment held the highest market share in 2023 and is expected to maintain its dominance during the forecast period.

The growing demand for furniture products for bedroom appliances is expected to drive the market growth of this segment during the forecast period. The growing trend of smart bedrooms and increasing investment in the residential construction segment are also expected to drive the market growth of this segment during the forecast period.

By material, the wood segment dominated the Indian furniture market and is expected to keep its dominance during the forecast period. The easy availability of the wood material, the lower cost of wood-based furniture, and the increasing inclination of consumers towards wood-based furniture are some of the factors driving the market growth of this segment during the forecast period. The plastic segment is expected to grow at the fastest CAGR during the forecast period owing to the growing utilization of plastic in furniture production.

South India is a major manufacturing hub due to the presence of a wide range of industries and furniture hubs in the region. The region’s robust construction sector drives substantial demand for furniture, making it a leading market.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 15,880 Million
Projected Market Size in 2033 USD 32,298.7 Million
Market Size in 2023 USD 14,200 Million
CAGR Growth Rate 7.73% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Product, Material, Type of Market, Distribution Channel, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope India
Buying Options Request tailored purchasing options to fulfil your research requirements.

CMI has comprehensively analyzed the Indian furniture market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth market scenario. Segment-wise market size and market share during the forecast period have been duly addressed to portray the probable picture of this industry.

The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

List of the prominent players in the India Furniture Market:

The India Furniture Market is segmented as follows:

By Product

By Material

By Type of Market

By Distribution Channel

By Application