Indian Furniture Industry


Furniture Industry INDIAN FURNITURE INDUSTRY AT A GLANCE IN 2015 - 2016 Furniture Industry

As of 2015, the Indian furniture market is estimated to be worth US$ 17,922 million. Of this, wooden furniture accounts for US$ 5,358 million. Imports are growing at 50 to 60 per cent every year. India was the largest furniture importer in the world , with a 19 per cent share in the furniture imports worldwide. A total of 10, 476 importers shipped furniture to India during 2015-2016, mainly from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, Philippines and Japan.

The furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total GDP. The major part of this industry, approximately 85 per cent is in the unorganised sector. The remaining 15 per cent comprises of large manufacturers, such as, Godrej & Boyce Manufacturing Co. Ltd., BP Ergo, Featherlite, Haworth, Style Spa, Yantra, Renaissance, Millennium Lifestyles, Durian, Kian, Tangent, Furniture Concepts, Furniturewala, Zuari, Truzo, N R Jasani & Company, V3 Engineers, PSL Modular Furniture, etc.

Indian Furniture in 2015-2016
Home furniture is the largest segment in the Indian furniture industry, accounting for about 65 per cent of furniture sales. This is followed by, the office furniture segment with a 20 per cent share and the contract segment, accounting for the remaining 15 per cent.

The furniture market in India is pegged to be around USD 20 billion, with furniture and furnishings having almost an equal split in the market. Within the furniture market of USD 10 billion, the residential sector accounts for a 70% share (USD 7 billion), and ~ 6% of this is organized (USD ~400 million).

The organized residential furniture market is expected to triple in size to become USD 1.3 billion in the next 5 years, growing at a CAGR of 27%; this would be around ~9% of the USD 15 billion (expected) residential furniture market by 2020.

The current USD 400 million organized residential furniture market is dominated by Godrej (USD 80 million sales in 2015), Style Spa (USD 30 million sales in 2015) and other sub players. E-tailing has been a big hit for the Indian Furniture industry and is likely to post phenomenal growth in the years to come.

Furniture industry  INDIAN furniture Industry AT A Glance IN 2012 - 2013

Furniture industry  The Association of Furniture Manufacturers of India (AFMI)

Indian Industry  back to furniture INDUSTRY