India Furniture Market was US$ 17.77 Billion in 2020 and will rise to USD 37.72 Billion by the end of the year 2026, growing at a double-digit CAGR of 13.37% during 2020-2026
India is a place for unique and excellent creative work of furniture. The Indian furniture industry is popular in the nation and internationally because of its rich handicraft and attractive traditional art and design. The Indian Furniture market has evolved over time. It has broadened its market from chair and table to designed interiors like wardrobe or sofas. Furniture has been an essential part of an Indian household for centuries. The major part of the Indian furniture industry accounts in the unorganized sector.
In India, a wide variety of raw materials are used in the production of furniture like Wood, Plastic, Cane, Bamboo, Metal, and Others. Around the world, wood furniture contributes largest segments because of its numerous varieties of indigenous wood and imported wood. Nowadays, Bamboo woods are also becoming popular in place of plywood. Indian wood is known for its traditional and esthetic work. States like Kerala, Gujarat, Uttar Pradesh, Kashmir, and Punjab are commercial centers for their wonderful decorating, turning, and great finishing of their work.
These days' customers also have the convenience to order furniture both online and offline - increase in digitization and flexibility of home delivery with customization option surging the online India furniture market. The companies like Pepper fry, Urban ladder and others are generating significant revenue through online platforms. At the same time, surging trends of online shopping are pushing the traditional furniture manufacturers, say Godrej, Nilkamal to introduce and sell their products through online medium.
India furniture market includes production of a wide range of furniture related to office, bedroom, kitchen, garden, school furniture and hospitals. Factors driving the Indian furniture market are growing disposable income with an increase in the economy, Expansion of the real estate and housing sector, Rising growth in the information technology and services sectors.