Market Size of Indonesia Home Textile Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Home Textile Market Analysis
The Indonesia Home Textile Market is expected to register a CAGR of greater than 4% during the forecast period(2024-2029).
Before the pandemic, everyone who worked in the textile industry made different kinds of clothes. In Indonesia, one of the biggest ways the government makes money is through the textile industry. However, during the pandemic, the textile industry decreased its production.
With the start of COVID-19, the textile manufacturing industry's income dropped from USD 19.88 billion in 2019 to USD 18.37 billion in 2020. This is a decrease of about 12% which happened because the production of industries went down and closing down of some industries and markets for a while. Aside from this share of textile and clothing manufacturing in GDP, Indonesia's GDP fell steadily, from USD 13 billion in 2019 to USD 11 Billion in 2021.
Indonesia's exports of textiles and clothing are growing a little bit faster than the country's GDP, but the overall trend is still down. Despite ongoing challenges, Indonesia does rank among the world's biggest textile-producing countries. Based on the worldwide textile output in 2021. There has been a consistent increase in exports of home textiles from Indonesia.
Home textiles are seen as having good prospects in Indonesia, especially with the number of urban households. There was also an increase in average gross income in 2021, allowing consumers to spend more on home textiles. After two years of problems caused by pandemics that destroyed the textile industry, the future looks good for Indonesia's textile makers. With the return of growth in the sector, it now faces a complex mix of factors.
