India Home Furniture Market Size (2024 - 2029)

Home Furnishing in India Market Analysis

The India Home Furniture Market size is estimated at USD 15.93 billion in 2024, and is expected to reach USD 24.29 billion by 2029, at a CAGR of 8.80% during the forecast period (2024-2029).

India is the fifth-largest exporter and the fourth-largest consumer of furniture in the world. The country's rapid urbanization drives the Indian furniture industry. Many of the young generation are moving to cities for better jobs and quality of life. This indicates that people are looking for furniture in their apartments and studios. The increase in disposable income is a major factor that allows people to invest in quality furniture that will last for a long time. There is a growing interest in modern or trendy furniture that may improve the look of the place and provide all the functionalities.

The growing per capita incomes of the middle class are driving the home furniture market in India. The growth of the infrastructure sectors, such as real estate and tourism, also drives the demand for commercial furniture. India is known for its carved furniture and other specialized wood furniture.

Brands seek to expand their reach through local distribution partnerships and independent stores in major cities. The market is wider than the high street, as online retailers have carved out a niche in this segment. Furniture has always been a vital part of home renovation. The furniture category has been doing quite well with the surge in residential property sales and the growing demand for a well-maintained home and stylish interiors.

Home Furnishing in India Industry Segmentation

The Indian home furniture market encompasses the manufacturing, distribution, and retail of residential and commercial furniture. It features diverse products catering to varied consumer preferences influenced by cultural, economic, and lifestyle factors.

The Indian home furniture market is segmented into product type, type of market, and distribution channel. By product type, the market is segmented into modular and semi-modular kitchen furniture with L shape modular kitchen, u shape modular kitchen, parallel shape modular kitchen, straight shape modular kitchen, and other modular kitchen furniture, bedroom furniture with beds, dresser/dressing tables, bedside tables, and other bedroom furniture with chest of drawers, floor mirror, etc., bathroom furniture with bathroom furniture, and other bathroom furniture, and wardrobes with single-door wardrobes, double-door wardrobes, three-door wardrobes, four-door wardrobes, other wardrobes (almirah, etc.), and other home furniture products with living room furniture, kids furniture, home office furniture, etc. By type of market, the market is segmented into organized and unorganized. By distribution channel, the market is segmented into home centers, specialty stores, online, and other distribution channels. The report offers market size and forecasts for the Indian home furniture market in terms of value in USD for all the above segments.