Eastern Asia: Market for Tableware And Kitchenware Of Wood 2024

Market Size for Tableware And Kitchenware Of Wood in Eastern Asia

In 2021, the East Asian wood kitchenware and tableware market decreased by -9.3% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Tableware And Kitchenware Of Wood in Eastern Asia

In value terms, wood kitchenware and tableware production shrank to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +59.5% against 2012 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

Exports of Tableware And Kitchenware Of Wood

Exports in Eastern Asia

In 2021, the amount of tableware and kitchenware of wood exported in Eastern Asia surged to X tons, jumping by 29% compared with the previous year. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.4% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood kitchenware and tableware exports skyrocketed to $X in 2021. In general, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) was the key exporter of tableware and kitchenware of wood in Eastern Asia, constituting 99% of total export.

China was also the fastest-growing in terms of the tableware and kitchenware of wood exports, with a CAGR of +7.1% from 2012 to 2021. From 2012 to 2021, the share of China increased by +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest wood kitchenware and tableware supplier in Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +12.8%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, jumping by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +5.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +5.3% per year.

Imports of Tableware And Kitchenware Of Wood

Imports in Eastern Asia

In 2021, approx. X tons of tableware and kitchenware of wood were imported in Eastern Asia; rising by 1.6% on the previous year's figure. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 12%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, wood kitchenware and tableware imports reached $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 12%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) represented the key importer of tableware and kitchenware of wood, making up 48% of total imports. It was distantly followed by China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together achieving a 50% share of total imports. Hong Kong SAR (X tons) took a minor share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of tableware and kitchenware of wood. At the same time, South Korea (+9.4%), China (+8.2%) and Taiwan (Chinese) (+2.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.4% from 2012-2021. By contrast, Hong Kong SAR (-4.8%) illustrated a downward trend over the same period. While the share of South Korea (+7.5 p.p.) and China (+6.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-1.9 p.p.) and Japan (-12.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported tableware and kitchenware of wood in Eastern Asia, comprising 55% of total imports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 17% share.

In Japan, wood kitchenware and tableware imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+16.9% per year) and Taiwan (Chinese) (+8.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 9.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 14%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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