synopsis & toc sectoral capsule- furniture market in india- a snapshot
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Disclaimer: All information contained in this report has been obtained from sources believed to be accurate by Gyan Research and Analytics (Gyan). While
reasonable care has been taken in its preparation, Gyan makes no representation or warranty, express or implied, as to the accuracy, timeliness or
completeness of any such information. The information contained herein may be changed without notice. All information should be considered solely as
statements of opinion and Gyan will not be liable for any loss incurred by users from any use of the publication or contents.
Furniture Market in India: A Snapshot
Furniture Market in India: A Snapshot
2 | P a g e © Gyan Research and Analytics Pvt. Ltd., 2014
Synopsis
The global furniture market is classified into - domestic furniture, office/corporate furniture, hotel
furniture and furniture parts. Globally, domestic furniture accounts for the largest share of the
market at 65 percent, followed by corporate/office furniture at 15 percent and finally, hotel and
furniture accessories at 15 percent and 5 percent, respectively. According to a World Bank study, the
Asian market will be the biggest consumer of the furniture industry. Hence, there’s significant
potential for growth in the Indian furniture sector.
The Indian furniture market is estimated at INR 887.50 million in FY2014. With a Compound Annual
Growth Rate (CAGR) of 25 percent through FY2015-FY2019, it is estimated to reach INR 2,708 billion
by FY2019. Rising proportion of working age population, increasing per capita income, nuclear
families, rise of the consumer class, rapid urbanization and growth of the real estate sector are some
of the contributors to this sector’s growth.
The furniture market has witnessed significant changes in terms of consumer preference. The
demand for luxurious living room sets, lavish bedrooms and stylish kitchens has increased rapidly.
Growth in nuclear families has greatly contributed to this growth. There is a range of designer
furniture options for customers to choose from.
The furniture sector in India accounts for a marginal share in the Gross Domestic Product (GDP),
representing about only 0.5 percent. The segment is primarily dominated by the unorganised sector
while organised sector accounts for only a miniscule portion.
Furniture Market in India: A Snapshot
3 | P a g e © Gyan Research and Analytics Pvt. Ltd., 2014
Table of Contents
1. Indian Furniture Industry
2. Market Segments
3. Household Furniture Market
4. Office Furniture Market in India
5. Growth Drivers
6. Key Players
7. Outlook
Furniture Market in India: A Snapshot
4 | P a g e © Gyan Research and Analytics Pvt. Ltd., 2014
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