GCC: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in GCC

The GCC wooden kitchen furniture market expanded slightly to $X in 2022, with an increase of 4.5% against the previous year. The total consumption indicated a prominent increase 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, consumption decreased by -4.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in GCC

In value terms, wooden kitchen furniture production amounted to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 90% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports in GCC

In 2022, exports of wooden furniture for kitchens in GCC skyrocketed to X units, jumping by 27% compared with the previous year's figure. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 105%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden kitchen furniture exports soared to $X in 2022. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 116% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Kuwait (X units) was the main exporter of wooden furniture for kitchens, achieving 46% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a 17% share, followed by Oman (13%), Saudi Arabia (12%) and Bahrain (12%).

Kuwait was also the fastest-growing in terms of the wooden furniture for kitchens exports, with a CAGR of +42.2% from 2012 to 2022. At the same time, Oman (+39.4%), Bahrain (+17.5%) and Saudi Arabia (+5.0%) displayed positive paces of growth. By contrast, the United Arab Emirates (-3.4%) illustrated a downward trend over the same period. Kuwait (+42 p.p.), Oman (+11 p.p.) and Bahrain (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by -8.9% and -50.2% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) constituted the countries with the highest levels of exports in 2022, with a combined 85% share of total exports. Oman and Saudi Arabia lagged somewhat behind, together comprising a further 15%.

Oman, with a CAGR of +37.7%, recorded 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

In 2022, the export price in GCC amounted to $X per unit, dropping by -7.7% against the previous year. In general, the export price recorded a mild setback. The pace of growth appeared the most rapid in 2014 when the export price increased by 43%. As a result, the export price reached the peak level of $X per unit. From 2015 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 the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.0%), while the other leaders experienced a decline in the export price figures.

Wooden Kitchen Furniture Imports

Imports in GCC

In 2022, imports of wooden furniture for kitchens in GCC reduced to X units, falling by -4.4% compared with 2021 figures. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.3% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 34%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wooden kitchen furniture imports fell to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 34% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X units) was the major importer of wooden furniture for kitchens, constituting 64% of total imports. Oman (X units) ranks second in terms of the total imports with a 14% share, followed by Kuwait (13%) and Qatar (5.7%). Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +9.6% from 2012 to 2022. At the same time, Oman (+14.5%), Kuwait (+9.5%) and Bahrain (+2.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.5% from 2012-2022. By contrast, Qatar (-11.3%) illustrated a downward trend over the same period. The United Arab Emirates (+18 p.p.), Oman (+7.4 p.p.) and Kuwait (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -28.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wooden furniture for kitchens in GCC, comprising 34% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 7.8% share of total imports. It was followed by Oman, with a 6.4% share.

In the United Arab Emirates, wooden kitchen furniture imports expanded at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+10.0% per year) and Oman (+9.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, reducing by -9.2% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2021 when the import price increased by 24% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Bahrain ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform