MARKET INTELLIGENCE

With a market valued at approximately USD 22 billion, India has emerged as the fourth-largest furniture market in the world and one of the most dynamic, climbing the ranking from the 10th position held ten years ago.

Within Asia-Pacific, India is the second-largest furniture market after China. In 2024, despite global challenges, consumption continued to grow (+11% in USD), being one of the fastest-growing furniture markets in Asia-Pacific.
Key factors driving the increase in demand for furniture include increasing urbanisation, changes in consumer demographics, expansion of the middle class, increasing investments in the residential and non-residential sector, government support, evolution of consumer tastes, and modernisation of furniture retail.

INDIA. FURNITURE CONSUMPTION, 2014-2024. USD BILLION

Most of India’s consumption is satisfied by local products, with an import penetration ratio of only 8%, despite imports having been growing fast in recent years. Even though China occupies nearly 70% of India’s imports, satisfying the medium market segment, the potential for high-end/luxury furniture imports is high. The demand for luxury furniture imports is promising, with foreign companies predominantly meeting this segment. Italy is the main supplier. Foreign brands are expanding their presence in the market by entering distribution and franchising agreements or investing in flagship stores in the main cities.

The structure of the Indian furniture market remains deeply fragmented. A large portion of the industry operates in the informal sector, comprising small, often family-run workshops and independent artisans. These producers, while rich in traditional skills, have limited exposure to global design trends and industrial manufacturing capabilities.

The transformation of the Indian furniture industry towards a more structured and competitive landscape is being accelerated by the entry of international manufacturers, the growth of large retail entities, and increasing market consolidation. Notwithstanding India’s furniture sector is massively fragmented, several large furniture producers are present in the country. A few examples: Wipro Furniture, Godrej Interio, Supreme Industries, Nilkamal Plastic, Featherlite Products, Forte Furniture Products India, Stanley Lifestyles, Modfurn Furniture, and Mayuri International.

OPPORTUNITIES ON THE HORIZON

India’s furniture sector holds significant growth potential. CSIL’s forecasts predict that the market will grow by 6% in real terms in both 2025 and 2026, making India one of the most promising furniture markets in the Asia-Pacific region. This trajectory is powered by a combination of economic growth, urbanisation, and demographic momentum.

With over 1.4 billion people, India is the most populous country in the world. Nearly a quarter of the population is under 14, and more than two-thirds are of working age. These demographics, combined with rising disposable income and a growing urban middle class, are creating sustained demand for contemporary, affordable, and well-designed furniture. By 2050, India’s urban population is expected to increase from 36% to 53%, reaching over 850 million people. This shift will play a defining role in shaping residential needs, design preferences, and consumer behaviour.

INDIAN BRANDS GO GLOBAL

While Indian furniture accounts for only 9% of total production, in recent years, there has been a considerable trend upwards, as shown by the annual +8% average export growth performed during 2014-2024. The continuous evolution of competitive advantages within Asia-Pacific and the evolving trade measures across the world might favour the internationalisation of the Indian furniture sector in the coming years.

A new generation of Indian furniture companies is expanding internationally, bringing traditional craftsmanship and design innovation to global audiences. Leading this movement, emerging brands such as DIVIANA in Europe, DeMuro Das in the US, Fabindia in the Middle East and Europe, and Godrej Interio in the Gulf region. Among these, DIVIANA stands out as a compelling example of how an Indian brand is successfully navigating the luxury furniture segment globally.

---

Want to know more?

•  ‘The Furniture Industry in India‘ (April 2025)
• ‘World Furniture Outlook’ (June 2025)
• ‘The World High-End, Luxury & Design Furniture Market’ (July 2025)

---

Source: CSIL World Furniture Magazine #06, June 2025

• Browse the Magazine https://www.worldfurnitureonline.com/editorial/world-furniture-magazine-06-2025
• Discover all issues at https://www.worldfurnitureonline.com/magazine