Indonesia Home Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Indonesia Home Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Indonesia Home Furniture Market is expected to register a CAGR of greater than 6.33% during the forecast period(2024-2029).

Indonesia's home furniture market is expected to gain high revenue in the future due to an expanding customer base across all regions of the country. The rising demand for modern and expensive furniture due to the rising middle-class population in Indonesia is expected to assist the market in growing its revenue. Growing numbers of domestic and global players in the country are anticipated to be among the major factors driving the overall home furniture market in Indonesia. The abundance of natural resources with extensive plantations of bamboo and rattan in Indonesia is anticipated to invite foreign entrants to cater to the growing needs for furniture in the country. The expansion of the customer base for both domestic and global players is projected to add revenues to the overall market at a rapid pace.

The rising demand for modern and expensive furniture due to the rising middle-class population in Indonesia is expected to assist the market in growing its revenue. Growing numbers of domestic and global players in the country are anticipated to be among the major factors driving the overall home furniture market in Indonesia.

Indonesia Home Furniture Market Trends

Growing Urbanization is Driving the Market

The market is expected to grow from strength to strength from the rising demand for high-quality furnishings to suit the different preferences and aesthetic values of consumers. The home furniture market is benefitting increasingly from the advent of furniture that promises to enhance comfort substantially. The overall demand is increasingly fuelled by the rise in urbanization across the country. Pieces of multi-purpose furniture such as sofa cum beds, hydraulic beds, foldable tables, and beds with storage are gaining massive popularity among homebuyers who want to make optimal use of living spaces. This is a crucial trend among urban buyers, which is expected to fuel the expansion of the home furniture market. Nowadays, theme-based home decor and regular renovation of homes is an ongoing trend followed by consumers belonging to middle and upper-middle-class populations of urban cities. These classes of the urban population look beyond the basic functionality of furniture and, thus, may look for additional attributes such as style and comfort.

Bedroom Furniture Segment

Bedroom furniture consists of relaxing beds integrated with coordinating bedside tables, drawers, and wardrobes for a serene sanctuary that meets all the requirements of end-users. Increasing per capita income of consumers and the adoption of newer lifestyle trends have revamped traditional households into modern luxury residential dwellings. Increasing inclination towards light, stylish, and comfortable walk-in closet designs or free-standing wardrobes has resulted in an important element of creating modern bedroom interiors. A high preference for space-saving fixtures is drawing more attention towards closet drawers, which are replacing bedroom dressers, thereby leaving more space in the bedroom. This scenario is likely to propel the demand for wardrobes and storage furniture over the forecast period.

Indonesia Home Furniture Industry Overview

The Indonesian home furniture market is a fragmented industry. In terms of market share, some of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service. The major players are VIVERE Group, Republic Furniture Jepara, Raisa House Of Excellence, Integra Group, and IKEA.

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