Finland: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Finland

In 2022, the Finnish wooden kitchen furniture market increased by 6.2% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Wooden Kitchen Furniture Production in Finland

In value terms, wooden kitchen furniture production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Over the period under review, production reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Wooden Kitchen Furniture Exports

Exports from Finland

In 2022, approx. X units of wooden furniture for kitchens were exported from Finland; falling by -17.3% compared with the year before. Overall, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2016 when exports increased by 43% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, wooden kitchen furniture exports reduced to $X in 2022. Over the period under review, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 103%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units) was the main destination for wooden kitchen furniture exports from Finland, with a 71% share of total exports. Moreover, wooden kitchen furniture exports to Norway exceeded the volume sent to the second major destination, the United States (X units), fivefold. Russia (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Norway totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.8% per year) and Russia (-30.3% per year).

In value terms, Norway ($X) remains the key foreign market for wooden furniture for kitchens exports from Finland, comprising 70% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Russia, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.0% per year) and Russia (-22.4% per year).

Export Prices by Country

The average wooden kitchen furniture export price stood at $X per unit in 2022, surging by 7.5% against the previous year. Over the period under review, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2021 an increase of 46%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Sweden ($X per unit) and Russia ($X per unit), while the average price for exports to the United States ($X per unit) and Estonia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Finland

In 2022, after three years of growth, there was significant decline in supplies from abroad of wooden furniture for kitchens, when their volume decreased by -16.8% to X units. Over the period under review, imports, however, showed a strong increase. The growth pace was the most rapid in 2017 with an increase of 64% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then reduced dramatically in the following year.

In value terms, wooden kitchen furniture imports reduced to $X in 2022. In general, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 45% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of wooden kitchen furniture to Finland, with a 37% share of total imports. Moreover, wooden kitchen furniture imports from Germany exceeded the figures recorded by the second-largest supplier, Estonia (X units), twofold. Denmark (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+3.6% per year) and Denmark (-2.1% per year).

In value terms, Germany ($X) constituted the largest supplier of wooden furniture for kitchens to Finland, comprising 37% of total imports. The second position in the ranking was taken by Estonia ($X), with an 18% share of total imports. It was followed by Denmark, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+3.2% per year) and Denmark (-2.4% per year).

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, picking up by 2.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 21%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($X per unit) and Denmark ($X per unit), while the price for Italy ($X per unit) and Slovakia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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