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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
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.
1. Indian Furniture Industry
2. Market Segments
3. Household Furniture Market
4. Office Furniture Market in India
5. Growth Drivers
6. Key Players