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According to the recent market study by Technavio, the Furniture Market in Indonesia is expected to increase by USD 3.29 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 12.08%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
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Furniture Market in Indonesia Value Chain Analysis
The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The value chain of the Furniture Market in Indonesia includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
Technavio report elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence - To know more - Click here!
Vendor Insights-
The Furniture Market in Indonesia is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
- GGS - The company offers furniture products that provide wood components which include customized furniture modular furniture, home and office furniture, hospitality furniture, under the brand name of GGS.
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Revenue Generating Segment Outlook
The furniture market share growth in Indonesia by the residential segment will be significant for revenue generation. Frequent product launches are invigorating the growth of the residential dining and kitchen furniture market in Indonesia. Thus, the launch of such new products and the rising demand for multifunctional furniture among the millennial population are expected to drive the growth of the segment of the market in focus during the forecast period.
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Latest Drivers & Trends Driving the Market-
- Furniture Market in Indonesia Driver:
- Rapid growth in urbanization:
The rapid growth in urbanization is one of the key drivers supporting the furniture market growth in Indonesia. As per data published by The World Bank Group, in 2020, 56.3% of the population in Indonesia lived in urban settlements. The growing urbanization in Indonesia is boosting the growth of residential and commercial buildings. People residing in residential buildings are increasingly focusing on buying innovative and trendy furniture to enhance the aesthetics of their houses. Flat-pack furniture is convenient, owing to its ease of use and trendy designs. The urban population prefers flat-packed furniture to conventional furniture. Hence, such factors are fostering the growth of the furniture market in Indonesia during the forecast period.
- Furniture Market in Indonesia Trend:
- Rising emphasis on eco-friendly furniture:
The rising emphasis on eco-friendly furniture is another factor supporting the furniture market growth in Indonesia. A significant increase in concerns regarding environment preservation and global warming encouraged the use and manufacturing of eco-friendly furniture in Indonesia. In addition, vendors are offering artistically designed and good quality furniture manufactured using eco-friendly materials, which is contributing to the growing popularity of eco-friendly furniture. Also, several non-profit trade associations have introduced guidelines for suppliers and manufacturers of eco-friendly furniture. These guidelines help manufacturers in ensuring that their business and corporate activities are promoting health, environmental equilibrium, and human well-being. Therefore, the growing demand for eco-friendly furniture will influence the growth of the furniture market in Indonesia during the forecast period.
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Folding Furniture Market -The folding furniture market share is expected to increase by USD 4.44 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.58%. Download a free sample now!
Home Furniture Market in US -The home furniture market share in the US is expected to increase by USD 8.22 billion from 2020 to 2025, at a CAGR of 2.53%. Download a free sample now!
Furniture Market In Indonesia Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 12.08% |
Market growth 2022-2026 |
USD 3.29 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.74 |
Regional analysis |
Indonesia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
CV Raisa House Indonesia, Fabelio, GGS, IKEA Indonesia, Informa, Lio Collection, PT VIVERE Multi Kreasi, PT. Chitose International Tbk., Republic Furniture Group, and Wisanka Indonesia |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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