Eastern Asia: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Eastern Asia

The East Asian wooden kitchen furniture market dropped slightly to $X in 2022, which is down by -2.9% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Wooden Kitchen Furniture Production in Eastern Asia

In value terms, wooden kitchen furniture production dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Wooden Kitchen Furniture Exports

Exports in Eastern Asia

In 2022, overseas shipments of wooden furniture for kitchens decreased by -0.9% to X units, falling for the fourth year in a row after seven years of growth. Total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -41.3% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 16%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports declined modestly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X units, which was approx. 93% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), mixing up a 5.8% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of wooden furniture for kitchens. At the same time, Taiwan (Chinese) (+56.4%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +56.4% from 2012-2022. While the share of Taiwan (Chinese) (+5.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-4.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest wooden kitchen furniture supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 2.9% share of total exports.

In China, wooden kitchen furniture exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, falling by -2.6% against the previous year. Overall, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 when the export price increased by 15% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per unit), while Taiwan (Chinese) amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.7%).

Wooden Kitchen Furniture Imports

Imports in Eastern Asia

In 2022, overseas purchases of wooden furniture for kitchens decreased by -5.6% to X units, falling for the second consecutive year after six years of growth. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 31%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, wooden kitchen furniture imports dropped to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 21%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units) and South Korea (X units) represented roughly 64% of total imports in 2022. Taiwan (Chinese) (X units) took the next position in the ranking, followed by China (X units). All these countries together held near 33% share of total imports. Hong Kong SAR (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden kitchen furniture importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 85% share of total imports.

South Korea, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, remaining stable against the previous year. In general, the import price showed a perceptible reduction. The pace of growth was the most pronounced in 2016 an increase of 5.1% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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