Guatemala: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Guatemala

The Guatemalan wooden kitchen furniture market expanded modestly to $X in 2022, surging by 2.7% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Wooden Kitchen Furniture Production in Guatemala

In value terms, wooden kitchen furniture production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Wooden Kitchen Furniture Exports

Exports from Guatemala

In 2022, the amount of wooden furniture for kitchens exported from Guatemala declined modestly to X units, almost unchanged from the previous year's figure. Over the period under review, exports continue to indicate a deep slump. The growth pace was the most rapid in 2021 with an increase of 31%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports surged to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X units), El Salvador (X units) and Costa Rica (X units) were the main destinations of wooden kitchen furniture exports from Guatemala, together comprising 84% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +71.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden kitchen furniture exported from Guatemala were Honduras ($X), El Salvador ($X) and Costa Rica ($X), with a combined 90% share of total exports.

Among the main countries of destination, Costa Rica, with a CAGR of +83.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, jumping by 32% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden kitchen furniture export price increased by +93.3% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Guatemala

In 2022, after two years of growth, there was significant decline in overseas purchases of wooden furniture for kitchens, when their volume decreased by -10% to X units. Overall, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 93%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, wooden kitchen furniture imports dropped rapidly to $X in 2022. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 118%. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Brazil (X units), Mexico (X units) and Malaysia (X units) were the main suppliers of wooden kitchen furniture imports to Guatemala, with a combined 63% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden kitchen furniture suppliers to Guatemala were Brazil ($X), Mexico ($X) and Colombia ($X), with a combined 69% share of total imports.

Colombia, with a CAGR of +43.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wooden kitchen furniture import price amounted to $X per unit, shrinking by -11.3% against the previous year. Over the period under review, the import price saw a slight slump. The pace of growth was the most pronounced in 2015 an increase of 29%. Over the period under review, average import prices attained 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform