Asia-Pacific: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Asia-Pacific

In 2022, the Asia-Pacific wooden kitchen furniture market increased by 4.6% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wooden Kitchen Furniture Production in Asia-Pacific

In value terms, wooden kitchen furniture production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Wooden Kitchen Furniture Exports

Exports in Asia-Pacific

In 2022, overseas shipments of wooden furniture for kitchens decreased by -28.7% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted notable growth. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell markedly in the following year.

In value terms, wooden kitchen furniture exports shrank slightly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 24%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, China (X units) was the main exporter of wooden furniture for kitchens, creating 44% of total exports. Malaysia (X units) ranks second in terms of the total exports with a 28% share, followed by Thailand (8.2%), Vietnam (8.1%) and Indonesia (6.6%). Taiwan (Chinese) (X units) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +56.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden kitchen furniture supplying countries in Asia-Pacific were China ($X), Vietnam ($X) and Malaysia ($X), with a combined 86% share of total exports. Thailand, Indonesia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 12%.

Taiwan (Chinese), with a CAGR of +42.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, growing by 35% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.8%), while the other leaders experienced mixed trends in the export price figures.

Wooden Kitchen Furniture Imports

Imports in Asia-Pacific

In 2022, the amount of wooden furniture for kitchens imported in Asia-Pacific amounted to X units, standing approx. at the year before. In general, imports posted a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of 35% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wooden kitchen furniture imports fell modestly to $X in 2022. Overall, imports showed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 23%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia represented the main importing country with an import of around X units, which recorded 31% of total imports. Japan (X units) ranks second in terms of the total imports with a 15% share, followed by South Korea (10%), Australia (9.7%), Taiwan (Chinese) (6.6%), China (6.3%) and the Philippines (6%).

Malaysia was also the fastest-growing in terms of the wooden furniture for kitchens imports, with a CAGR of +28.2% from 2012 to 2022. At the same time, the Philippines (+17.4%), Taiwan (Chinese) (+12.7%), South Korea (+11.0%), Japan (+6.7%), China (+6.0%) and Australia (+1.2%) displayed positive paces of growth. From 2012 to 2022, the share of Malaysia and the Philippines increased by +24 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wooden kitchen furniture importing markets in Asia-Pacific were Malaysia ($X), Japan ($X) and China ($X), together accounting for 58% of total imports.

Among the main importing countries, Malaysia, with a CAGR of +36.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, waning by -3% against the previous year. Overall, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2020 when the import price increased by 10%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :