Research Report on Southeast Asia Furniture Industry 2023-2032

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Description

Furniture is the daily life and social activities for living, or work convenience and equipped with appliances, traditional furniture is independent of the main structure of the house can be moved, many modern furniture has become an integral part of the building. The furniture in this report only includes the apparatus with the function of sitting, storage, spacing, etc., excluding household appliances and other products.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI’s analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.

Due to the lower labor cost in Southeast Asia, plus the abundant timber resources, a large number of foreign enterprises have established furniture factories in Southeast Asia in recent years. Vietnam, Thailand, Cambodia and other countries have become hot spots for foreign companies to invest in the furniture industry.

Vietnam’s furniture industry has attracted more foreign investment in the last decade or so. By the end of 2022, Vietnam had more than 3,000 enterprises directly exporting wooden furniture. Only 20% of these enterprises are foreign-owned, but these foreign-owned enterprises generate more than half of Vietnam’s total exports of wood products.

Foreign investment has become an important part of Vietnam’s timber and wood products export industry. And these foreign-invested enterprises are mainly concentrated in the southern regions of Vietnam, such as Binh Duong, Dong Nai and Ho Chi Minh City. At present, Vietnam has formed a complete wood processing system, of which wooden furniture contributes a major part of the output value.

As far as the furniture industry is concerned, Binh Duong province is the largest producer of furniture products in Vietnam, and companies from China, Japan, Korea and other countries have chosen to build factories in Binh Duong province.

CRI expects that with the development of manufacturing in Southeast Asia, more and more foreign companies will set up furniture manufacturing enterprises in Southeast Asia to reduce costs. Southeast Asia is gradually becoming an important global furniture production base and consumer market.

CRI expects the Southeast Asia furniture market to maintain its growth trend during 2023-2032.

Topics covered:

  • Southeast Asia Furniture Industry Status and Major Sources in 2018-2022 
  • What is the Impact of COVID-19 on Southeast Asia Furniture Industry?
  • Which Companies are the Major Players in Southeast Asia Furniture Industry Market and What are their Competitive Benchmarks?
  • Key Drivers and Market Opportunities in Southeast Asia Furniture Industry
  • What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Furniture Industry during 2023-2032?
  • What is the Expected Revenue of Southeast Asia Furniture Industry during 2023-2032?
  • What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
  • What are the Competitive Advantages of the Major Players in Southeast Asia Furniture Industry Market?
  • Which Segment of Southeast Asia Furniture Industry is Expected to Dominate the Market in 2032?
  • What are the Major Adverse Factors Facing Southeast Asia Furniture Industry?

Table of Contents

1 Analysis of the Furniture Industry in Singapore

1.1 Singapore Furniture Industry Development Environment

1.1.1 Geography 

1.1.2 Population 

1.1.3 Economy 

1.1.4 Singapore Manufacturing Minimum Wage

1.2 Singapore Furniture Industry Operation Status 2018-2022

1.2.1 Singapore Furniture Production Status

1.2.2 Singapore Furniture Sales Status

1.2.3 Singapore Furniture Import and Export Status

1.3 Analysis of Major Furniture Manufacturers in Singapore

 

2 Analysis of Thailand Furniture Industry

2.1 Development Environment of Thailand Furniture Industry

2.1.1 Geography 

2.1.2 Population 

2.1.3 Economy

2.1.4 Thailand Manufacturing Minimum Wage

2.2 Thailand Furniture Industry Operation Status 2018-2022

2.2.1 Thailand Furniture Production Status 

2.2.2 Thailand Furniture Sales Situation

2.2.3 Thailand Furniture Import and Export Situation

2.3 Major Furniture Manufacturers in Thailand

 

3 Analysis of the Philippine Furniture Industry

3.1 Development Environment of Philippine Furniture Industry

3.1.1 Geography

3.1.2 Population 

3.1.3 Economy 

3.1.4 Minimum Wage in Philippine Manufacturing Industry

3.2 Furniture Industry Operation in the Philippines 2018-2022

3.2.1 Furniture Production Status in the Philippines

3.2.2 Sales Status of Furniture in the Philippines

3.2.3 Furniture Import and Export Status in the Philippines

3.3 Major Furniture Manufacturers in the Philippines

 

4 Malaysia Furniture Industry Analysis

4.1 Development Environment of Malaysia Furniture Industry

4.1.1 Geography 

4.1.2 Population 

4.1.3 Economy 

4.1.4 Minimum Wage in Malaysian Manufacturing Industry

4.2 Malaysia Furniture Industry Operation Status 2018-2022

4.2.1 Malaysia Furniture Production Status

4.2.2 Malaysia Furniture Sales Status

4.2.3 Malaysia Furniture Import and Export Status

4.3 Major Furniture Producers in Malaysia

 

5 Indonesia Furniture Industry Analysis

5.1 Development Environment of Indonesia Furniture Industry

5.1.1 Geography 

5.1.2 Population 

5.1.3 Economy 

5.1.4 Indonesia Manufacturing Minimum Wage

5.2 Indonesia Furniture Industry Operation 2018-2022

5.2.1 Indonesia Furniture Production Status

5.2.2 Indonesia Furniture Sales Status

5.2.3 Indonesia Furniture Import and Export Status

5.3 Major Furniture Producers in Indonesia

 

6 Vietnam Furniture Industry Analysis 

6.1 Development Environment of Vietnam Furniture Industry

6.1.1 Geography 

6.1.2 Population 

6.1.3 Economy 

6.1.4 Minimum Wage of Vietnam Manufacturing Industry

6.2 Operation of the Furniture Industry in Vietnam 2018-2022

6.2.1 Vietnam Furniture Production Situation

6.2.2 Vietnam Furniture Sales Situation

6.2.3 Vietnam Furniture Import and Export Situation

6.3 Major Furniture Producers in Vietnam

 

7 Analysis of the Furniture Industry in Myanmar

7.1 Development Environment of Myanmar Furniture Industry

7.1.1 Geography 

7.1.2 Population 

7.1.3 Economy 

7.1.4 Myanmar Manufacturing Minimum Wage

7.2 Myanmar Furniture Industry Operation Status 2018-2022

7.2.1 Myanmar Furniture Production Status 

7.2.2 Sales Status of Furniture in Myanmar

7.2.3 Furniture Import and Export Situation in Myanmar

7.3 Major Furniture Producers in Myanmar

 

8 Analysis of Brunei Furniture Industry

8.1 Development Environment of Brunei Furniture Industry

8.1.1 Geography 

8.1.2 Population

8.1.3 Economy 

8.1.4 Brunei Manufacturing Minimum Wage

8.2 Brunei Furniture Industry Operation Status 2018-2022

8.2.1 Brunei Furniture Production Status

8.2.2 Brunei Furniture Sales Status

8.2.3 Brunei Furniture Import and Export Status

8.3 Brunei Major Manufacturing Companies

 

9 Analysis of the Furniture Industry in Laos

9.1 Development Environment of Laos Furniture Industry

9.1.1 Geography 

9.1.2 Population 

9.1.3 Economy 

9.1.4 Minimum Wage of Manufacturing Industry in Laos

9.2 Operation of the Furniture Industry in Laos 2018-2022

9.2.1 Lao Furniture Production Status 

9.2.2 Sales Status of Furniture in Laos 

9.2.3 Lao Furniture Import and Export Status

9.3 Major Furniture Producers in Laos

 

10 Analysis of the Furniture Industry in Cambodia

10.1 Development Environment of Cambodia Furniture Industry

10.1.1 Geography  

10.1.2 Population 

10.1.3 Economy 

10.1.4 Minimum Wage of Manufacturing Industry in Cambodia

10.2 Cambodia Furniture Industry Operation Status 2018-2022

10.2.1 Cambodia Furniture Production Status

10.2.2 Cambodia Furniture Sales Situation 

10.2.3 Cambodia Furniture Import and Export Situation

10.3 Major Furniture Manufacturers in Cambodia

 

11 Southeast Asia Furniture Industry Outlook 2023-2032

11.1 Analysis of Factors Affecting the Development of Furniture Industry in Southeast Asia

11.1.1 Favorable Factors 

11.1.2 Unfavorable Factors 

11.2 Supply Forecast of Southeast Asian Furniture Industry 2023-2032

11.3 Southeast Asia Furniture Manufacturing Market Demand Forecast 2023-2032

11.4 Impact of COVID -19 Epidemic on Furniture Industry

Additional information

Publisher

Geography Covered

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Date Published

Pages

Charts

Format

Base Year

2023

Base Market Size

3.1

Currency

USD billion(Vietnam's wood products import value)

Forecast Year

2032

Market Size Forecast

4.9

CAGR

5.2%

Companies Mentioned

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