ITALY - The Indian furniture market, valued at USD 20 billion according to CSIL, has maintained an average annual growth rate of 6% over the past decade.

This growth trajectory has propelled India to become the 4th largest furniture market globally, up from its 10th position a decade ago.

In the Asia-Pacific region, India stands as the second largest furniture market after China and is projected to be among the fastest-growing markets in 2024 and 2025.

This growth is attributed to factors such as increasing urbanization, expansion of the middle class, investments in residential and non-residential sectors, government support, and modernization of furniture retail.

Although imports currently satisfy less than 10% of the Indian furniture market, their rapid growth in recent years suggests significant potential, particularly for high-end/luxury furniture imports.

CSIL's comprehensive analysis of the Indian furniture sector provides insights into market potential, key indicators, historical production, consumption, imports, and exports data, as well as forecasts for 2024 and 2025. The report also examines the productive system and offers competitive landscape analysis, including leading Indian manufacturers and the distribution system.

The report, titled 'The Furniture Industry in India,' is now available from CSIL.