Furniture Market

• Indian furniture market is worth about US $8 billion
• Classified as the 14th largest furniture markets in the world, it constitutes to 0.5% of the total GDP
• Highly unorganised – only about 15% in the organised sector
• Market is growing at 30% compound annual growth rate in the organised sector
• Branded furniture market increased to US $3.7 billion in 2012 from US $1.7 billion in 2008
• Region specific design pattern
• Industry is segmented into residential, office and industrial market

​Innovation in the Furniture market

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• Rise of traditionally themed furniture: Mughal style and other old fashioned traditional furniture
• Modular Kitchens gaining popularity in urban India
• Innovative materials: Many companies offer medium density fibre boards (MDF) and particleboards as substitutes to the conventional wood.​