India's furniture market, valued at approximately USD 22 billion, has rapidly climbed the global rankings, becoming the fourth-largest furniture market in the world, up from 10th position a decade ago. Within the Asia-Pacific region, India ranks second only to China. Despite global economic challenges in 2024, furniture consumption in India grew by 11% in USD terms, making it one of the fastest-growing markets in the region.
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Key drivers of growth
The surge in furniture demand is fueled by multiple factors: rising urbanization, expanding middle-class incomes, evolving consumer demographics, and increased investments in residential and commercial construction. Additionally, government support, modernisation of furniture retail, and changing consumer tastes are shaping market growth, making contemporary and well-designed furniture increasingly sought after.
Local production and import trends
India's furniture consumption is largely met by domestic production, with imports accounting for only 8% of total consumption. Nevertheless, imports have grown in recent years, with China supplying nearly 70%, mainly serving the medium-market segment. Opportunities for high-end and luxury imports remain strong, with Italy as the principal supplier. Foreign brands are expanding their presence through distribution partnerships, franchising agreements, and flagship stores in major Indian cities, targeting the luxury segment.
Market structure
The Indian furniture industry remains highly fragmented, dominated by small family-run workshops and independent artisans. While these producers bring traditional craftsmanship to the market, they often lack exposure to global design trends and industrial manufacturing capabilities. However, the sector is gradually professionalizing, driven by the entry of international manufacturers, the growth of large retail chains, and increasing market consolidation. Notable large-scale players include Wipro Furniture, Godrej Interio, Supreme Industries, Nilkamal Plastic, Featherlite Products, Forte Furniture Products India, Stanley Lifestyles, Modfurn Furniture, and Mayuri International.
Growth outlook
CSIL forecasts predict 6% real-term growth for India's furniture market in both 2025 and 2026, confirming its status as one of the most promising markets in the Asia-Pacific region. India's population of over 1.4 billion, combined with a young demographic—nearly a quarter under 14 and more than two-thirds of working age—supports sustained demand. Rapid urbanization is expected to increase the urban population from 36% to 53% by 2050, further driving residential and commercial furniture consumption.
© CSIL
International expansion of Indian brands
Indian furniture exports, currently representing only 9% of total production, have grown at an average annual rate of 8% from 2014 to 2024. A new generation of Indian brands is pursuing international expansion, blending traditional craftsmanship with modern design. Leading companies include DIVIANA (Europe), DeMuro Das (US), Fabindia (Middle East and Europe), and Godrej Interio (Gulf region). DIVIANA, in particular, exemplifies the successful penetration of the luxury furniture segment on a global scale.
Source: www.worldfurnitureonline.com
