India: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in India

For the third consecutive year, the Indian wooden kitchen furniture market recorded decline in sales value, which decreased by -20.1% to $X in 2022. Over the period under review, consumption recorded a pronounced descent. Wooden kitchen furniture consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in India

In value terms, wooden kitchen furniture production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24% against the previous year. Wooden kitchen furniture production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Wooden Kitchen Furniture Exports

Exports from India

In 2022, overseas shipments of wooden furniture for kitchens increased by 36% to X units, rising for the third consecutive year after two years of decline. In general, exports showed significant growth. The growth pace was the most rapid in 2013 when exports increased by 212% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, wooden kitchen furniture exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 120%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for wooden kitchen furniture exports from India, with a 68% share of total exports. Moreover, wooden kitchen furniture exports to the United States exceeded the volume sent to the second major destination, Nepal (X units), fivefold. The third position in this ranking was taken by Sri Lanka (X units), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +40.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+37.8% per year) and Sri Lanka (+76.2% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture for kitchens exports from India, comprising 67% of total exports. The second position in the ranking was taken by Nepal ($X), with a 6% share of total exports. It was followed by Sri Lanka, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+21.0% per year) and Sri Lanka (+68.8% per year).

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, shrinking by -4.2% against the previous year. In general, the export price showed a deep contraction. The pace of growth was the most pronounced in 2016 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to Malaysia ($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 Ghana (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Kitchen Furniture Imports

Imports into India

In 2022, the amount of wooden furniture for kitchens imported into India contracted modestly to X units, approximately equating 2021. In general, imports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 28%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wooden kitchen furniture imports reduced to $X in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +17.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 31%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X units) constituted the largest wooden kitchen furniture supplier to India, accounting for a 65% share of total imports. Moreover, wooden kitchen furniture imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.3% per year) and Italy (-10.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of wooden furniture for kitchens to India, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Italy, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.3% per year) and Italy (-2.0% per year).

Import Prices by Country

In 2022, the average wooden kitchen furniture import price amounted to $X per unit, which is down by -6% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% 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 import price decreased by -14.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 30%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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