Hungary: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Hungary

The Hungarian wooden kitchen furniture market soared to $X in 2022, jumping by 67% against the previous year. In general, consumption continues to indicate a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Wooden Kitchen Furniture Production in Hungary

In value terms, wooden kitchen furniture production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 when the production volume increased by 40%. As a result, production reached the peak level of $X, and then fell in the following year.

Wooden Kitchen Furniture Exports

Exports from Hungary

In 2022, wooden kitchen furniture exports from Hungary dropped significantly to X units, shrinking by -31.6% against 2021. In general, exports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2016 when exports increased by 59%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden kitchen furniture exports fell sharply to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 32%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for wooden kitchen furniture exports from Hungary, accounting for a 61% share of total exports. Moreover, wooden kitchen furniture exports to Germany exceeded the volume sent to the second major destination, the UK (X units), threefold. Switzerland (X units) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+33.0% per year) and Switzerland (+2.4% per year).

In value terms, Germany ($X) remains the key foreign market for wooden furniture for kitchens exports from Hungary, comprising 61% of total exports. The second position in the ranking was taken by the UK ($X), with a 20% share of total exports. It was followed by Switzerland, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+30.2% per year) and Switzerland (+0.4% per year).

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the export price saw a slight descent. The pace of growth was the most pronounced in 2014 an increase of 23% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Sweden ($X per unit) and Switzerland ($X per unit), while the average price for exports to Germany ($X per unit) and the UK ($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 Austria (-1.9%), while the prices for the other major destinations experienced a decline.

Wooden Kitchen Furniture Imports

Imports into Hungary

Wooden kitchen furniture imports into Hungary totaled X units in 2022, stabilizing at the year before. Overall, imports saw a strong increase. The smallest decline of 99.9% was in 2021. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, wooden kitchen furniture imports soared to $X in 2022. Over the period under review, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 61%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Lithuania (X units) and Poland (X units) were the main suppliers of wooden kitchen furniture imports to Hungary, with a combined 86% share of total imports. Italy, Ukraine and Turkey lagged somewhat behind, together comprising a further 8.1%.

From 2020 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +294.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden kitchen furniture suppliers to Hungary were Germany ($X), Lithuania ($X) and Poland ($X), with a combined 86% share of total imports. Italy, Ukraine and Turkey lagged somewhat behind, together comprising a further 8.1%.

In terms of the main suppliers, Turkey, with a CAGR of +326.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, leveling off at the previous year. In general, the import price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2021 a decrease of 99.9% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per unit) and Ukraine ($X per unit), while the price for Germany ($X per unit) and Lithuania ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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