Indonesia has long been known as one of the world’s leading furniture manufacturers. As one of the world’s fastest-growing furniture manufacturers and most popular furniture exporters, Indonesia’s furniture market is highly segmented and competitive. It’s teak furniture and rattan furniture products are in high demand in both local and international markets. Indonesia’s Furniture industry has been designated as a priority sector for the country due to being a labor-intensive industry. The Indonesian government has set a target to increase the country’s furniture export value which will drive the furniture industry in Indonesia. With such strong government support and a positive market landscape, Indonesian furniture manufacturers are expected to increase their export values soon.
Key Market Trends
Growing Tourism in Indonesia is Driving the Market
Tourism in Indonesia is an important component of the Indonesian economy as well as a significant source of its foreign exchange revenues. The demand for furniture also augmented due to the growing tourism in various regions of Indonesia, where setting up of hotels and resorts in Bali was among the major market drivers. The growing hospitality sector due to expanding tourism in Indonesia is expected to augment the furniture market revenues due to the rising demand for luxurious furniture by hotels set up in the country.
Growing Demand for Bedroom Furniture
The furniture industry in Indonesia has long been one of the world’s largest in terms of furniture manufacturing and furniture exporting. The furniture included in this bedroom furniture market segment ranges from beds with mattresses of different shapes and sizes, to clothes closets, nightstands, and dressers. Economic growth and rising household incomes are a few of the factors encouraging users to spend on commodities including furniture, in turn, increasing the demand for bedroom furniture in recent years. Furniture market players operating in the country used both locally and internationally available raw materials, which included the traditional rattan and high-quality teak, mahogany, and redwood.
The report covers major international players operating in the Indonesia Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support