Indonesia Furniture Market Shipment Analysis
Indonesia Furniture Market registered a growth of 23.54% in value shipments in 2021 as compared to 2020 and a decrease of -9.4% CAGR in 2021 over a period of 2017. In Furniture Market Indonesia is becoming more competitive as the HHI index in 2021 was 6165 while in 2017 it was 7058. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Indonesia has reportedly relied more on domestic production to meet its growing demand in Furniture Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Furniture Market in 2021 was 0.11 while in 2017 it was 0.25. China, Vietnam, Italy, Malaysia and Thailand were among the top players of the market in 2021, where China acquired the largest market share of 78.03% with a shipment value of 116.25 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 83.88% with the shipment value of 165.66 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
Indonesia Furniture Market Shipment Analysis
Indonesia Furniture Market registered a growth of 23.54% in value shipments in 2021 as compared to 2020 and a decrease of -9.4% CAGR in 2021 over a period of 2017. In Furniture Market Indonesia is becoming more competitive as the HHI index in 2021 was 6165 while in 2017 it was 7058. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Indonesia has reportedly relied more on domestic production to meet its growing demand in Furniture Market. Indonesia is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Furniture Market in 2021 was 0.11 while in 2017 it was 0.25. China, Vietnam, Italy, Malaysia and Thailand were among the top players of the market in 2021, where China acquired the largest market share of 78.03% with a shipment value of 116.25 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 83.88% with the shipment value of 165.66 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
Topics Covered in the Indonesia Furniture Market Report
The Indonesia Furniture Market report thoroughly covers the market by material type, by application and competitive landscape. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Indonesia Furniture Market Synopsis
The Indonesia furniture industry is characterized by its diverse product range and skilled craftsmanship, particularly in regions like Jepara, Central Java, Bali, Solo, and Yogyakarta. This export-oriented market is known for producing traditional wooden and rattan furniture, while also embracing sustainability with the use of eco-friendly materials like reclaimed wood and bamboo. Indonesian manufacturers increasingly cater to modern and minimalist design preferences, offer customization options, and have expanded their online presence through e-commerce platforms. Sustainability certification and a focus on quality assurance underscore the industry's commitment to meeting global demand for environmentally conscious and high-quality furniture products.
The furniture market in Indonesia has witnessed digital transformation. E-commerce platforms and online marketplaces may have become even more important for furniture retailers and manufacturers to reach a wider customer base, especially in light of the COVID-19 pandemic. Additionally, given the global focus on sustainability, Indonesian furniture companies may have continued to adopt sustainable practices. This could involve using certified wood, reducing waste, and implementing eco-friendly production processes.
New design trends and materials may have also emerged in the Indonesian furniture market. This could include a greater emphasis on modern and minimalist designs, as well as the integration of technology into furniture products. Further, Indonesian furniture makers are increasingly using sustainable and eco-friendly materials, such as reclaimed wood and bamboo, to meet the growing demand for environmentally conscious products. Moreover, the furniture manufacturers are offering more customization options to meet the unique preferences of customers. This includes the ability to choose materials, finishes, and even tailor designs to individual needs.
According to 6Wresearch, Indonesia Furniture Market Size is projected to grow at a CAGR of 8.90% resulting in a market volume of US$2810.29m during the forecast period 2023-2029. The Indonesia is a major exporter of furniture products, and global demand for well-crafted and diverse furniture designs has been a significant driver of growth. Countries in Europe, the United States, and Asia have consistently imported Indonesian furniture. Additionally, Indonesia has a long tradition of skilled craftsmanship, particularly in regions like Jepara and Bali. The expertise of local artisans in woodworking and traditional craftsmanship has contributed to the country's competitive advantage in producing high-quality furniture. Further, Indonesia has an abundance of natural resources like wood, rattan, bamboo, and other materials commonly used in furniture production. The availability of these resources at a relatively low cost has been a driving force in the industry's growth. Moreover, the expansion of e-commerce platforms and digital marketing has opened up new avenues for Indonesian furniture manufacturers to reach a wider global customer base.
COVID-19 Impact on Indonesia Furniture Market
The pandemic had a severe influence on the Indonesia Furniture Market Revenues. The Indonesia furniture market, renowned for its skilled craftsmanship and diverse product range, faced significant challenges due to the COVID-19 pandemic. The outbreak disrupted global supply chains and led to a decrease in international orders as lockdowns and economic uncertainty impacted consumer spending. However, the industry demonstrated resilience by pivoting towards digital marketing and e-commerce platforms to adapt to changing consumer preferences. Additionally, there was a growing emphasis on sustainability and eco-friendly practices, aligning with global trends. As the pandemic evolved, recovery efforts were evident, with a focus on maintaining product quality, expanding online presence, and adhering to safety measures, offering potential for renewed growth as the situation improved.
Key Players in the Indonesia Furniture Market
The Indonesia furniture market, a prominent global player, boasts a wide array of skilled manufacturers and exporters. Key players include PT. Mekar Jaya Binong, PT. Wisanka Indonesia, PT. Alba Omega, PT. Wirasindo Santakarya (WISANKA), and PT. VIVERE MULTI KREASI, among others. These companies are known for their expertise in crafting traditional and modern furniture, their commitment to sustainability, and their ability to cater to both domestic and international markets. Further, some of the companies together hold majority of the Indonesia Furniture Market Share. Their products range from wooden and rattan furniture to innovative, eco-friendly designs, reflecting the industry's versatility and adaptability in meeting evolving consumer demands.
Market by Material Type
According to Ravi Bhandari, Research Head, 6Wresearch, the Indonesia furniture market offers a diverse range of material categories, including wood, rattan, bamboo, and various eco-friendly materials. Wood, such as teak and mahogany, remains a staple choice, known for its durability and rich, natural aesthetics. Rattan and bamboo are popular for their sustainable and lightweight qualities, often used in crafting traditional and modern furniture pieces. Additionally, eco-friendly materials like reclaimed wood and recycled materials are gaining prominence, aligning with the market's growing emphasis on sustainability. This broad material spectrum allows Indonesian furniture manufacturers to cater to a wide range of consumer preferences and international markets, further solidifying their position in the global furniture industry.
Market by Application
The Indonesia furniture market has a significant presence in residential applications, offering a rich array of finely crafted pieces that elevate the aesthetics and functionality of homes. Indonesian furniture adorns living rooms, bedrooms, dining areas, and outdoor spaces, appealing to a wide range of tastes and preferences. With an emphasis on both traditional and contemporary designs, this market provides homeowners with options that showcase intricate craftsmanship and the use of diverse materials such as wood, rattan, bamboo, and reclaimed materials. Additionally, the Indonesia furniture market plays a significant role in commercial applications, supplying a wide range of meticulously crafted furniture pieces for offices, retail spaces, and educational institutions. Renowned for its quality and versatility, Indonesian furniture caters to diverse commercial needs. In office settings, ergonomic office chairs, executive desks, and conference tables combine functionality with elegant design. In the retail sector, display shelving and bespoke furniture create visually appealing shopping environments. Moreover, educational institutions benefit from durable classroom furniture that enhances the learning experience. The Indonesian furniture industry's adaptability to modern and minimalist design preferences, coupled with a commitment to sustainability, positions it as a reliable source for commercial spaces seeking a blend of aesthetics, durability, and eco-consciousness. Further, the Indonesia also hold a major share of the Asia Pacific Furniture Market.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Indonesia Furniture Market Outlook
- Market Size of Indonesia Furniture Market, 2022
- Forecast of Indonesia Furniture Market, 2029
- Historical Data and Forecast of Indonesia Furniture Revenues & Volume for the Period 2019-2029
- Indonesia Furniture Market Trend Evolution
- Indonesia Furniture Market Drivers and Challenges
- Indonesia Furniture Price Trends
- Indonesia Furniture Porter's Five Forces
- Indonesia Furniture Industry Life Cycle
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Material Types for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Plastic for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Wood for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Metal for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Other for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Applications for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Residential for the Period 2019-2029
- Historical Data and Forecast of Indonesia Furniture Market Revenues & Volume By Commercial for the Period 2019-2029
- Indonesia Furniture Import Export Trade Statistics
- Market Opportunity Assessment By Material Types
- Market Opportunity Assessment By Applications
- Indonesia Furniture Top Companies Market Share
- Indonesia Furniture Competitive Benchmarking By Technical and Operational Parameters
- Indonesia Furniture Company Profiles
- Indonesia Furniture Key Strategic Recommendations
Markets Covered
The Indonesia furniture market report provides a detailed analysis of the following market segments:
By Material Type
- Plastic
- Wood
- Metal
- Others
By Application
Frequently Asked Questions About the Market Study (FAQs):
The Indonesia is a major exporter of furniture products, and global demand for well-crafted and diverse furniture designs has been a significant driver of growth. Countries in Europe, the United States, and Asia have consistently imported Indonesian furniture.
Currently, the plastic material furniture type is expected to witness substantial growth due to its low price and easily transported features.
Currently, the commercial application holds the highest market share on account of their utility across a range of commercial applications, supplying a wide range of meticulously crafted furniture pieces for offices, retail spaces, and educational institutions.
Key companies include PT. Mekar Jaya Binong, PT. Wisanka Indonesia, PT. Alba Omega, PT. Wirasindo Santakarya (WISANKA), and PT. VIVERE MULTI KREASI, among others.
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