𝐈𝐧𝐝𝐨𝐧𝐞𝐬𝐢𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐅𝐮𝐫𝐧𝐢𝐭𝐮𝐫𝐞 𝐄𝐱𝐩𝐨 (𝐈𝐅𝐄𝐗) 𝟐𝟎𝟐𝟐
𝑭𝒖𝒓𝒏𝒊𝒕𝒖𝒓𝒆 𝑰𝒏𝒅𝒖𝒔𝒕𝒓𝒚 𝑶𝒑𝒕𝒊𝒎𝒊𝒔𝒕𝒊𝒄 𝑾𝒆𝒍𝒄𝒐𝒎𝒊𝒏𝒈 𝑰𝑭𝑬𝑿 𝟮𝟬𝟮𝟯

PETALING JAYA, 6TH AUGUST 2022 – The furniture and craft industry is expected to continue to grow in the coming years. This is in line with what the Minister of Industry, Agus Gumiwang Kartasasmita, said when opening the Indonesia International Furniture Expo (IFEX) 2022. Citing the Centre for Industrial Studies (CSIL), global furniture consumption in 2022 is estimated to grow by 3.9%. Meanwhile, Technavio released the “Global Furniture Market 2020 – 2024” report which states that the furniture market will rise by $113.61 billion in the said period. More significant growth is reported by Fortune Business Insights™ in “Furniture Market, 2021 – 2028” which predicts the global furniture market to reach $720.2 billion in 2028 with a CAGR of 5.5 percent in 2021 – 2028.
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The Asia Pacific market is expected to dominate the global furniture market growth. Technavio reported the growth could reach 47 percent. Based on the type, household furniture products are predicted to remain the highest-selling product.
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The above report shows market players’ optimism toward the global furniture industry’s growth. It is good news for global furniture industry players, including Indonesia. “We have always been optimistic that our furniture and craft industry will continue to grow. I believe this is not just wishful thinking, seeing that results of global researches also state the same,” said Abdul Sobur, Chairman of the Indonesian Furniture and Craft Industry Association (HIMKI).
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The positive growth of the country’s furniture industry is reflected by the success of IFEX 2022. During the four-day exhibition, IFEX managed to exceed the target of 6,500 buyers and visitors, and instead gathered 7,736 buyers and visitors from 72 countries. The top ten countries of origin for buyers and visitors are India, Australia, Malaysia, the United States of America, Singapore, France, China, Spain, Germany, and South Korea. Six of the above ten countries are from the Asia Pacific region.
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“We see a change in the landscape of buyers. Usually, the United States and China are the top countries of origin, but this year there has been a slight change. More buyers are coming from India and Australia. Technavio estimates that India will become one of the largest furniture markets in the Asia Pacific, addition to China which remains the largest in the world,” said Abdul Sobur.
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In terms of transactions, the IFEX 2022 managed to record a transaction value of $650 million where the on-the-spot transactions booked $150 million and the follow-up transactions $500 million.
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“The transaction recorded at this year’s IFEX exceeded our expectations. Some exhibitors that we met also shared the same thing. Despite the early concerns because the exhibition is organized outside the ASEAN furniture exhibition cycle, we managed to attract many visitors and high transactions value,” said Sobur.
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𝙊𝙥𝙩𝙞𝙢𝙞𝙨𝙩𝙞𝙘 𝙒𝙚𝙡𝙘𝙤𝙢𝙞𝙣𝙜 𝙄𝙁𝙀𝙓 𝟮𝟬𝟮𝟯

Seeing the positive results of IFEX 2022, Dyandra Promosindo as the Professional Exhibition/Event Organizer (PEO) together with HIMKI as the organizer feel confident that the Indonesia International Furniture Expo (IFEX) 2023 will be more lively. This also drives Indonesian furniture and craft industry players to be optimistic about welcoming the IFEX 2023. Based on the organizers’ data, around 80 percent of this year’s participants have stated their readiness to support IFEX 2023. In addition, the exhibition area for IFEX 2023 will cover every hall at JIExpo, Kemayoran.
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“For IFEX 2023, we have planned to use all the halls at JIExpo, Kemayoran. With the increased exhibition area, we will have more participants and higher transaction value,” said the President Director of Dyandra Promosindo, Daswar Marpaung. He is optimistic that next year’s economic condition will be better, and IFEX can attract more visitors.
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The Asian Development Bank (ADB) report on Indonesia’s economic growth supports this optimism. The report states that the Indonesian economy is expected to grow by 5 percent in 2022 and 5.2 percent in the following year. The “Indonesia Economic Prospect” report released by the World Bank also stated that the Indonesian economy could grow 5.3 percent in 2023.
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“These positive indicators inspire us to continue to drive the growth of the Indonesian furniture and craft industry, particularly through the organizing of the IFEX exhibition. The economic growth will leverage the industry’s growth and in turn, it will help us to get closer to the realization of our export target value of $5 billion,” concluded Abdul Sobur.
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