India Furniture Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.

“India Furniture Market Report and Forecast 2022-2027”

Indian furniture market to be driven by rapid urbanization during the forecast period 2022-2027

Expert Market Research’s new report titled “Indian furniture market Report and Forecast 2022-2027′, gives an in-depth analysis of the Indian furniture market, assessing the market based on its segments such as raw materials, sectors, end-uses, distribution channels and regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators and analyzing the market based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Historical market size (2021): INR 13.4 billion
  • Forecast CAGR (2022-2027): 70%

The Indian furniture industry is driven by the growing trend of working from home. This may be associated with the advent of the COVID-19 outbreak in 2020, which has led businesses and corporations to adopt remote working solutions. This is driving the demand for work-from-home related furniture solutions such as comfortable chairs and table setups that provide convenience for long shifts. Additionally, increasing availability of a wide variety of furniture on online websites is also expected to aid in the growth of the market, with increased accessibility to internet facilities.

Industry definition and major segments

Furniture is a movable object that is made to support human activities, such as chairs that help with sitting and beds for sleeping. Furniture is versatile and can be customized to individual needs. These can be made from a variety of materials and provide varied aesthetic appeal to the room.

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The market, on the basis of raw material, can be split into:

  • Metal
  • Drink
  • Plastic
  • Others

Depending on the sector, the industry can be divided into:

On the basis of end-use, the market can be categorized into:

  • Residential
  • Commercial offices
  • Hotels/Restaurants
  • Others

On the basis of distribution channel, the industry can be segmented into:

  • Supermarkets and Hypermarkets
  • Specialty stores
  • In line
  • Others

Regional furniture markets in India include:

  • North India
  • Eastern India
  • West India
  • South India

Market trends

The Indian furniture industry is driven by the growing population in India coupled with rapid urbanization, which is propelling the demand for home furniture. Additionally, growing consumer interest in the aesthetic appearance of the home is increasing the demand for unique, compact and aesthetically pleasing furniture, thus contributing to the growth of the market. This trend is further fueled by the inflation of disposable incomes and the improvement in the standard of living of the population. In addition, the increasing availability of multi-functional furniture that also provides aesthetic appeal while taking up less space is also in increased demand. These factors are expected to drive the growth of the market over the forecast period.

Main market players

Major market players are IKEA Systems BV, Godrej Interio, Nilkamal Limited, Zuari Furniture, Durian Private Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furnitures Pvt. Ltd., The Supreme Industries Limited and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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