India Home Furnishing market is anticipated to grow during the forecast period due to rising occupancy of residential real estates, the growing popularity of the modular kitchen concept, and the increasing number of home renovations.

1. INDIA HOME FURNISHING MARKET
FORECAST & OPPORTUNITIES
2019 – 2029
M A R K E T I N T E L L I G E N C E . C O N S U L T I N G www.techsciresearch.com

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© TechSci Research
Table of Contents
S. No. Contents Page No.
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Sales Channel Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments

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Table of Contents
S. No. Contents Page No.
4. Voice of Customer Analysis
4.1. Brand Awareness
4.2. Factors Influencing Purchase Decisions
4.3. Challenges Faced After Purchase
5. India Home Furnishing Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1.
By Product Type Market Share Analysis (Home Furniture (Bed, Table, Chairs, etc.), Home
Textiles (Carpets & Rugs, Cushions, etc.), Wall Décor (Scenic Accent Wall, Rugged Walls))
5.2.2.
By Sales Channel Market Share Analysis (Supermarkets/Hypermarkets, Specialty Stores,
Online, Others)
5.2.3. By Regional Market Share Analysis
5.2.3.1. North India Market Share Analysis
5.2.3.2. West India Market Share Analysis
5.2.3.3. South India Market Share Analysis
5.2.3.4. East India Market Share Analysis
5.2.4. By Top 5 Companies Market Share Analysis, Others (2023)

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Table of Contents
S. No. Contents Page No.
5.3. India Home Furnishing Market Mapping & Opportunity Assessment
5.3.1. By Product Type Market Mapping & Opportunity Assessment
5.3.2. By Sales Channel Market Mapping & Opportunity Assessment
5.3.3. By Region Market Mapping & Opportunity Assessment
6. India Home Furniture Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type Market Share Analysis (Bed, Table, Chairs, Others)
6.2.2. By Sales Channel Market Share Analysis
7. India Home Textiles Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type Market Share Analysis (Carpets & Rugs, Cushions, Others)
7.2.2. By Sales Channel Market Share Analysis

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Table of Contents
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8. India Wall Décor Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type Market Share Analysis (Scenic Accent Wall, Rugged Walls)
8.2.2. By Sales Channel Market Share Analysis
9. Market Dynamics
9.1. Drivers
9.1.1. Growing government initiatives
9.1.2. Increasing number of new homes
9.1.3. Rising product launches
9.2. Challenges
9.2.1. Increasing Competition
9.2.2. Low consumer awareness regarding latest furniture trend
10. Impact of COVID-19 on the India Home Furnishing Market
10.1. Impact Assessment Model
10.1.1. Key Segments Impacted
10.1.2. Key Regions Impacted
10.1.3. Key Sales Channel Impacted

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Table of Contents
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11. Market Trends & Developments
11.1. Growing popularity of home décor items
11.2. Rising demand for eco-friendly products
11.3. Increasing popularity of online shopping
11.4. Growing demand for doorstep delivery
11.5. Changing consumer preferences
12. Porter’s Five Forces Model
12.1. Competitive Rivalry
12.2. Bargaining Power of Buyers
12.3. Bargaining Power of Suppliers
12.4. Threat of New Entrants
12.5. Threat of Substitutes
13. Swot Analysis
13.1. Strength
13.2. Weakness
13.3. Opportunities
13.4. Threats

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Table of Contents
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14. Competitive Landscape (Top 10 Companies)
14.1. Company Profiles
14.1.1. Company Details
14.1.2. Product & Services
14.1.3. Financials (As Per Availability)
14.1.4. Key market Focus & Geographical Presence
14.1.5. Recent Developments
14.1.6. Key Management Personnel
15. Strategic Recommendations/Action Plan
15.1. Key Focus Areas
15.2. Target Product Type
15.3. Target Sales Channel
16. About Us & Disclaimer

8. Market Overview

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© TechSci Research
Scope of Report
Product of Interest (POI): HOME FURNISHING
Review Period
2019 – 2022
Base Year
2023
Estimated Year
2024
Forecast Period
2025 – 2029
Year Range
Home Furnishing is the decorative arrangement of tangible objects
including furniture, furniture accessories, etc. They enhance the
attractiveness and comfort of various home spaces, such as the
bedroom, living room, and dining room. Home Furnishing includes home
furniture, home textiles, and wall décor.
Market Segmentation
REGION
• North
• South
• West
• East
PRODUCT TYPE
SALES CHANNEL
• Supermarkets/Hypermarkets
• Specialty Stores
• Online
• Others
• Home Furniture
• Bed
• Table
• Chairs etc.
• Home Textiles
• Carpets & Rugs
• Cushions etc.
• Wall Décor
• Scenic Accent Wall
• Rugged Walls

10. Research Methodology

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© TechSci Research
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing list
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top companies
in India Home Furnishing
market, overall market size
and segmental market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
Survey Questionnaires.
List of top companies
and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
leadings companies for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
India Home Furnishing
market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
 EMIS
 Volza
 Bloomberg
Paid Sources
 Company Websites
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary
Research
Primary Research
 Board members
 Financial Advisors
 Business Heads
 Investors
 Product Heads
 Paid Databases
 Research Heads
Key Industry Partners
Methodology Landscape
Research Methodology

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© TechSci Research
Baseline Methodology
Our research team has relied on primary and secondary research to gather market size and market data. The team has monitored
and analyzed various aspects of the India Home Furnishing Market. The team has studied the outlook of multiple segments such as
product type, sales channel, regional sales, and the companies of this market. The study includes historical data for 2019, 2020,
2021, and 2022, base data for 2023, and forecast data for 2024, 2025, 2026, 2027, 2028, and 2029, which will enable our clients to
make better decisions while planning their strategy to achieve sustainability in the India Home Furnishing Market.
Objective of The Study
To analyze the historical growth in the market size of the India Home Furnishing Market from 2019 to 2023.
To estimate and forecast the market size of the India Home Furnishing Market from 2024 to 2029 and the growth rate
until 2029.
To classify and forecast the India Home Furnishing Market based on product type, sales channel, regional sales and
company.
To analyze and forecast the market size in terms of product type, which are home furniture, home textiles and wall
décor.
To analyze and forecast the market size in terms of region: North, West, South, East.
To identify drivers, challenges, and trends for the India Home Furnishing Market.
To examine competitive developments in the India Home Furnishing Market, such as expansions, new launches,
mergers & acquisitions, etc.
To identify and analyze the profile of leading companies in the India Home Furnishing Market and the top 5 companies
market share.
Research Methodology

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Formulation of the Scope
The base year is a reference point used as a starting point, for comparison in various analyses and forecasts. It serves as the
foundation against which changes, growth, or trends are measured.
The review period refers to the time span during which historical data is examined, analyzed, and reviewed. It is the period of
time leading up to the base year and is used to establish the baseline for comparison and understand trends
The forecast period is a future-oriented timeframe during which predictions or projections are made based on current/
historical data and analysis. It extends beyond the base year and allows for estimations of potential future outcomes.
The market could be defined by a specific industry, product or service. The market then is further divided into meaningful
segments based on demographics, psychographics, behavior, geography, or product categories. This helps in analyzing the
market more effectively, along with estimating the size of each segment.
Assumptions and Limitations:
The base currency considered is USD. Based on the average exchange rate for the corresponding review period years, other
currencies have been converted to USD. The projection period's exchange rate conversion was calculated using the conversion
rates from the base year. The base year considered for this study is 2023. The historic period considered for this study is from
2019 to 2022. The forecast CAGR considered is for the period of 2024E-2029F.
Note: 2023 being the base year, 2019-2022 is the review period and 2024-2029 is the forecast period for analyzing the market in between 2019-2029
Research Methodology

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© TechSci Research
TechSci has used a combination of secondary and primary research sources (free telephonic and face-to-face interviews and
incentivized telephonic and face-to-face interviews with the respondents) to capture the data. We have an extensive network of
respondents of participants in the value chain, industry experts, and customers to obtain relevant insights and navigate data
challenges.
Secondary Research
It comprises desk research, in which our research team conducted a preliminary assessment of the information available
through secondary sources. Below is the categorization given for each reference from which the data was sourced, and further,
that data was used for the data triangulation and estimation of the market sizes and market shares.
Sources of Research
Industry Associations News Portals/Secondary Sources
• Association of Furniture Manufacturers & Traders
• Handicrafts and handlooms Export Corporation Ltd
• World Bank
• Company Annual Reports
• Factiva
• Hoovers
• EMIS
• TechSci Research Proprietary Database & Knowledge
Repository
• Industry Reports
• News Dailies
• Textile Association of India
Research Methodology

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Primary Research : Our research team maintains survey questionnaires with a set of questions and topics and responses from
the primary respondents. The survey questionnaires are administered through telephonic or face-to-face interviews and surveys
online or by email with the value chain participants. Surveys (online or by email) or field surveys are done to gather end user
opinions. Interviews with industry experts are done through telephone or face-to-face interviews only. Below is a set of
exercises done with the help of primary interviews through our network of respondents, such as value chain participants,
industry experts, and customers, to obtain relevant insights and gather the required information.
Value Chain participants (Home
Furnishingcompanies)
End Users Industry Experts
Sample Size = 15-20 Sample Size = 300 Sample Size = 3
• Survey Questionnaires
 Telephonic Interviews
 Face-to-Face Interviews
• Surveys
 Online
 email
• Partial List of Companies Interviewed
 Welspun India Limited
 Trident Group
 Durian Industries Ltd.
 Raymond Limited
 Himatsingka Seide Limited
 D'Decor Home Fabrics Pvt. Ltd.
 Bella Casa Fashion & Retail Limited
 Reliance Industries Limited
 Maspar Industries Private Limited
 Nilkamal Limited
• Surveys
 Online
 email
• Field surveys
 Face-to-Face Interviews
• Voice of Customers
 Brand Awareness
 Factors Influencing Renting
Decision
 Challenges Faced
• Survey Questionnaires
 Telephonic Interviews
 Face-to-Face Interviews
Research Methodology

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© TechSci Research
Approach for the Market Study
TechSci follows two types of approaches for the assessment of the market:
The Bottom-Up approach to market analysis starts with a granular analysis of specific countries, segments, companies and then
builds up to form a broader understanding of the overall market. This method focuses on gathering detailed data and insights at
the micro level and then aggregating them to draw conclusions about the larger market.
The Top-Down Approach to market analysis involves starting with a broad view of the overall market and then narrowing down
to specific segments or niches. It typically begins with analyzing macroeconomic factors and industry trends and then drilling down
to understand the specific market segments, target customers, and potential opportunities.
Methodology Followed for Calculation of Market Size & Market Shares:
Market Size By Value & Volume : Market size, in terms of value & volume , for the year 2023 was calculated based on
information collected through exhaustive secondary research and primary surveys with various key opinion leaders i.e., value
chain participants, such as Home Furnishingcompanies, industry experts.
The team interviewed 15-20 critical value chain participants from Home Furnishingcompanies. The respondents have been working
in responsible positions in Home Furnishingcompanies. The team interviewed 300 end users for the voice of customer section and
3 industry experts associated with the Home Furnishingindustry from last two decades. This exercise obtained the overall market
size during 2019-2023, validated by multiple rounds of interviews. Considering standard deviation, the market size was averaged
out to arrive at the market size data during 2019-2023.
Bottom-Up Approach 80%
Top-Down
Approach 20%
Research Methodology

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© TechSci Research
Market shares by product type, by sales channel, by region, and by company and current and future market growth rates were
calculated based on the responses received through primary surveys with the value chain participants, in which the respondents
were asked about the market shares or revenue generated from home furnishing. The final percentage shares were calculated by
taking the geometric mean of growth estimates, and company wise revenue shares generated across various segments were
considered to arrive at the final market percentage shares after eliminating the outliers.
Forecasting Methodology:
TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey
results using statistical tools.
Data Triangulation & Validation:
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast
India Home Furnishing Market, TechSci Research used various forecast techniques such as:
Moving Average Method For Time Series Analysis: The average of the data set of the market's historical data was considered
for data forecasting. This technique is beneficial for forecasting short-term trends and is a widely used method for time series
forecasting. Yearly moving average of historical data was used for estimating the trend values for time series forecasting.
After estimating the trend values based on yearly moving average methods, seasonal variations were calculated from the actual
data. After getting these two as a basis, market sizes were predicted for the forecasting years.
Research Methodology

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Regression Analysis: In this technique, multiple linear regression analysis was practiced, which involves using a regression
model to estimate the value of the dependent variable on the numerous independent and directly related variables. The values
of the independent variable were typically those assumed to determine the values of the dependent variable. Based on the
historical trend of market data of two or more independent variables, the data of the India Home Furnishing Market was
forecasted with the help of statistical tools.
Econometric and Judgmental Analysis: Relationships with the economic variables, majorly macro-economic variables, were
considered to forecast the data, combined with incorporating intuitive judgment and opinions. This technique is majorly used
when there is no historical data, and the market is totally niche, new, and unique.
Note: (a) Sum of some shares may not be 100% due to round off till two decimal places.
Research Methodology

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© TechSci Research
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing list
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top companies
in India Home Furnishing
Market, overall market
size and segmental market
size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
Survey Questionnaires.
List of top companies
and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
leadings companies for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
India Home Furnishing
Market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
 EMIS
 Volza
 Bloomberg
Paid Sources
 Company Websites
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary
Research
Primary Research
 Board members
 Financial Advisors
 Business Heads
 Investors
 Product Heads
 Paid Databases
 Research Heads
Key Industry Partners
Methodology Landscape
Research Methodology

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© TechSci Research 20
• India's Home Furnishing Market is a rapidly growing industry with increasing demand for products such as bedding, curtains,
towels, carpets, and kitchen textiles. The growth of the India Home Furnishing Market can be attributed to several factors,
including increasing demand for quality products, rising consumer awareness of home decor, and changing consumer
preferences towards eco-friendly and sustainable products. The market is highly fragmented, with a large number of small
and medium-sized enterprises operating in the industry.
• However, there are also some large players such as Welspun Living Limited, Trident Group, which have a significant presence
in the market. The e-commerce sector has played a crucial role in the growth of the India Home Furnishing Market, with
consumers increasingly using online platforms to purchase home decor products. In addition, the government's 'Make in
India' initiative has encouraged domestic production, thereby promoting growth in the industry. In conclusion, India's Home
Furnishing Market is a dynamic and rapidly growing industry with huge potential for growth in the coming years. With
increasing consumer awareness and changing preferences, the industry is expected to continue expanding and creating new
opportunities for both domestic and international players.
• Major driver in the India Home Furnishing Market is rising residential real estate in the country. The real estate boom has
enabled the young individuals to purchase a home of their own, owing to easy loan schemes provided by banks and the
government. The new homes for small families have been a major driving factor, as they have spent a significant amount of
money setting them up. This has created a significant market for Home Furnishingcompanies in India.
Market Overview

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© TechSci Research 21
• In 2023, Durian Furniture launched its second store in Hyderabad, at Sarath City Capital Mall. This store spread across an
area of 2000 sq. ft. and displays a diverse collection of high-quality luxury furniture pieces. The company launched its new
store with an impressive inaugural offer on a selected range of home and office furniture, the store creates a haven for
premium furniture pieces for the people of Hyderabad.
• In 2023, Stanley Furniture tied up with Shivalik Group to launch luxury furniture stores in Gujrat. The first of the ten stores
was inaugurated at Sindhu Bhavan Road in Ahmedabad. The store spanned over 7500 sq ft. The store showcases an
impressive collection of sofas, wardrobes, beds, mattresses, cabinets, and more, offerings buyers a comprehensive range of
high-end furniture and complete home solutions.
• In 2023, Yashika Luthra launched her flagship store “Yashika Luthra Designs” in New Delhi on 29th January 2023 at
Sultanpur, MG Road, New Delhi. This studio is spread across 4,000 square feet and showcases an eclectic range of luxury
lifestyle furniture. The store is a prime destination for high-end consumers seeking home products for their homes and office
spaces. Customers can experience and buy products from Yashika Luthra Designs that range from massive beds, sofas,
dining tables, recliners, loungers, coffee tables, bar consoles, and wardrobes to office furnishings such as study tables and
chairs.
• In 2022, PritiHome, Indian local furniture and lifestyle startup brand that offers interior collections for homes, announced
launch of its offline stores. The company opened its first store in Jodhpur. For this purpose, a 10,000 sq ft area was acquired.
The company further announced another store launch in Pune. Other cities to be covered are Bangalore and Hyderabad.
• In the year 2022, "Amazing Home" launched its own line of furniture, furnishing, and home decor products to provide a
variety of consumers with appealing home decor solutions. The website offers better quality, ready-made, and customizable
design alternatives at an attractive cost.
Recent Developments

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Sample Data- Snapshot
India Home Furnishing Market Size, By Value (USD Million) & By Volume (Million Units), 2019-2029F 2019–2029F
India Home Furnishing Market Share, By Sales Channel, By Value, 2019–2029F
5.00
6.00
7.00
8.00
9.00
10.00
11.00
12.00
13.00
14.00
15.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
100.00
110.00
2019 2023 2024E 2029F
By Value (USD Million)
By Volume (Million Units)
CAGR BY VALUE: XX%
CAGR BY VOLUME: XX%
CAGR BY VALUE: XX%
CAGR BY VOLUME: XX%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
2019
2020
2021
2022
2023
2024E
2025F
2026F
2027F
2028F
2029F
Supermarkets/Hypermarkets Specialty Stores Online Others

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© TechSci Research
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FORECAST AND OPPORTUNITIES
2019 – 2029F
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