Influx of foreign brands, rising domestic demand for handcrafted and modern furniture, growing middle class population with increasing disposable income and entrance of global manufacturers and retailers are the major factors which are expected to fuel Indonesia furniture market in future.
Ken Research announced its latest publication on “Indonesia Furniture Market by Type (Home, Office, Hotel & Industrial), by Sales (Domestic & Export) and by Cities – Outlook to 2021” suggested a rapid growth in Indonesia furniture market, majorly driven by rising disposable income of the people, thus demanding modern furnishings across various sectors in the country. Influx of foreign brands and rising demand of the population to purchase expensive furniture are attracting large number of potential players to enter the space.
The highly competitive furniture market of Indonesia is inclusive of both online and offline retailers, which offer the best quality to the customers at cut-throat prices. Furniture market players operating in the country used both locally and internationally available raw materials, which included the traditional rattan and the high quality teak, mahogany and redwood. Rising real estate developments to cater the growing population raised the demand for furniture market players, which offered both traditional and modular products as a part of their product portfolio. 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.
With the increased demand for modern furnishings by the domestic people, the country witnessed an increase in the number of foreign furniture giants entering the metro regions of Indonesia. IKEA, Informa, Da Vinci Group and Lio collection were among the major furniture market players that penetrated the market in a short span of time. Increasing demand for home furniture, which was majorly driven by the living room furniture sales due to the expenditure incurred by the population for buying modern products, ultimately surged the revenues generated by market players during the review period.
Rising number of furniture retail outlets by both organized and unorganized market players, from 3,900 stores in 2012 to 4,090 stores by 2014, assisted in the augmentation of furniture market revenues during the review period. Expansion of existing market players to the untapped regions of Bogor, Depok and Bekasi also raised the customer base of these companies.
Key Topics Covered in the Report:
IKEA Furniture Sales in Indonesia
Wooden Furniture Industry Indonesia
Furniture Manufacturing Plant in Indonesia
Furniture Industry in Indonesia
Dining Room Furniture Industry
Market Size Indonesia Furniture
Revenue Beds Market Indonesia
Furniture Import Indonesia
Furniture Export Indonesia
Indonesian Furniture Sector
Dining Set Sales in Indonesia
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Ankur Gupta, Head Marketing & Communications