Furniture Manufacturing Market in Bosnia and Herzegovina 2016-2020

Overview of the furniture manufacturing market in Bosnia and Herzegovina

The furniture manufacturing market in Bosnia and Herzegovina is anticipated to witness rapid growth and will post a moderate CAGR of more than 6% over the forecast period. The abundance of forest reserves is one of the significant factors driving the growth of the furniture manufacturing market in Bosnia and Herzegovina.  The country has a strong heritage of wood processing and forestry dating back to the second half of the 19^th century. The forest reserves are highly diversified, resulting in the availability of trees belonging to various species. Furthermore, more than half of the country’s land is covered by forests, and it is richest in terms of forest resources compared to member countries in the EU. The abundance of forest reserves ensures the cost-effective and easy availability of wood, which is the key raw material for the manufacturers in this industry.

With the growth of online retailing of furniture, this market is envisaged to have a positive outlook in the coming years. Increasing penetration of the Internet, along with increased access to smartphones and online banking systems has led to an increase in the online sales of furniture. Manufacturers of furniture in Bosnia and Herzegovina are focusing on branding, marketing communications, and online retailing to enhance visibility, both domestically and at the regional level.

Segmentation by product type and analysis of the furniture manufacturer market in Bosnia and Herzegovina

• Kitchen furniture
• Mattresses
• Office and shop furniture
• Others (such as seats and bedroom and living room furniture)

During 2015, the kitchen furniture segment was one of the largest segments of the furniture manufacturing market in Bosnia and Herzegovina and accounted for more than 16% of the market shares in terms of revenue. The rapid growth of the housing sector in the country is one of the primary factors driving this segment’s growth during the forecast period.

Competitive landscape and key vendors

Furniture manufacturing is a dynamic industry, and its growth is underpinned by factors such as economic conditions, skilled workforce, and innovative use of raw materials. The furniture manufacturing market in Bosnia and Herzegovina is characterized by the presence of well-diversified international and regional manufacturers. Most of the regional players are finding it increasingly difficult to compete with international players in terms of technology and pricing. The competition in the market is expected to increase as the international players increase their footprint in the market with more product/service extensions, innovations in technology, partnerships, and M&A.

Key vendors in this market are -

• Ambyenta Furniture
• Preduzeće Izazov
• NOVA FORMA
• VIGMELT 
• Laser
• Asiks
• Ip Krivaja
• Rattan Sedia
• Economic Vitez
• HSI Wood
• Fis
• Nobil

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the furniture manufacturing market in Bosnia and Herzegovina?
• What are the key market trends impacting the growth of the furniture manufacturing market in Bosnia and Herzegovina?
• What are the challenges to market growth?
• Who are the key vendors in the furniture manufacturing market in Bosnia and Herzegovina?
• What are the market opportunities and threats faced by the vendors in the furniture manufacturing market in Bosnia and Herzegovina?
• What are the trending factors influencing the market shares of Bosnia and Herzegovina?
• What are the key outcomes of the five forces analysis of the furniture manufacturing market in Bosnia and Herzegovina?

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