Statistics - Indian Furniture Industry

Furniture Industry

The furniture industry is a 71,000 crore industry today - the modular kitchen segment being the fastest growing. As per the last available industry statistics, the modular kitchen segment stands at around Rs 20,000 crore. With increasing emergence of nuclear families, rising disposable income and better affordability, this industry is expected to grow at the rate of 40% per annum.

• The Indian Furniture market is worth about USD 8bn.
• Constitutes 0.5% of the total GDP.
• Employs 3,00,000 people.
• Highly unorganized- only about 15% in organized sector.
• Organized sector growing at 30% CAGR.
• Wooden home furniture is the biggest segment.
• Key states for wood furniture: Gujarat, Rajasthan, UP, Punjab, Kerala, AP, West Bengal.

 

Modular Kitchen Industry

Modular Kitchens are based on functional practicality and the onset of Modular Kitchen in the furniture market of India have spelt a consciousness that even kitchens can have a style statement and at the same time be comfortable and elegant.

• Stands at around Rs. 20,000 Cr.
• Indian readymade kitchens currently sold at the rate of 10,000 units per month in the country.
• Expected to grow 10 times in the next three to four years.
• Modular kitchen market in India is still at a nascent stage but has tremendous growth potential.
• Market has been witnessing a growth rate of 50% YoY.
• It is largely unorganized with the presence of local and small players. Unorganized market includes carpenters making self-designed kitchens based upon the requirements of the households.
• Modular kitchens are customized based on the requirements of the consumer. Based on the need of the consumer, it can be set up with various accessories like chimney, burner etc.
• Modular kitchen accounts for 40% of the furniture and fittings industry. Products in this market are largely focused towards establishments in urban India.