Living Room Furniture - Indonesia

Indonesia

In Indonesia, the revenue generated in the Living Room Furniture market is estimated to reach US$0.99bn in 2024.
It is projected to experience an annual growth rate of 1.94% (CAGR 2024-2029).
When compared globally, in the United States leads the market with a revenue of US$73,080m in 2024.
In terms of per person revenues, in Indonesia generates approximately US$3.53 in 2024.
Indonesia's growing middle class is fueling demand for modern and functional living room furniture, driving the market's expansion.

Key regions: China, Germany, Brazil, France, United States

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Analyst Opinion

The Living Room Furniture market in Indonesia has been experiencing significant growth in recent years. Customer preferences have shifted towards modern and minimalist designs, with a focus on functionality and space-saving solutions. Additionally, the rising middle class and increasing urbanization in Indonesia have contributed to the growth of the market.

Customer preferences: Indonesian consumers are increasingly opting for modern and minimalist designs in their living room furniture. This trend can be attributed to the influence of global design trends and the desire for a clean and uncluttered living space. Customers are looking for furniture pieces that not only provide comfort but also serve multiple functions, such as storage solutions or convertible designs.

Trends in the market: One of the key trends in the Living Room Furniture market in Indonesia is the rising demand for space-saving solutions. As urbanization continues to increase, many Indonesian households are living in smaller apartments or houses with limited space. This has led to a growing demand for furniture that can maximize the use of available space, such as modular sofas or wall-mounted storage units. Another trend in the market is the increasing popularity of eco-friendly and sustainable furniture options. Indonesian consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out furniture made from sustainable materials or produced using environmentally friendly manufacturing processes.

Local special circumstances: Indonesia is a diverse country with a rich cultural heritage, and this diversity is reflected in the preferences for living room furniture. Different regions in Indonesia may have unique design aesthetics and traditional furniture styles that are favored by the local population. For example, in Bali, traditional Balinese furniture made from teakwood is highly sought after.

Underlying macroeconomic factors: The growth of the Living Room Furniture market in Indonesia can be attributed to several underlying macroeconomic factors. Firstly, the rising middle class in Indonesia has led to an increase in disposable income, allowing more households to afford higher-quality furniture. Additionally, the rapid urbanization in the country has created a demand for furniture as more people move into urban areas and set up new households. Lastly, the growth of e-commerce in Indonesia has made it easier for consumers to access a wide range of furniture options and compare prices, driving competition and innovation in the market. In conclusion, the Living Room Furniture market in Indonesia is experiencing growth due to customer preferences for modern and minimalist designs, the rising middle class, increasing urbanization, and the influence of global design trends. The market is also influenced by local special circumstances, such as regional design aesthetics and traditional furniture styles. The underlying macroeconomic factors, including rising disposable income and the growth of e-commerce, are driving the growth of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.