Serbia: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Serbia

The Serbian wooden kitchen furniture market skyrocketed to $X in 2022, picking up by 126% against the previous year. Over the period under review, consumption, however, showed a abrupt slump. Wooden kitchen furniture consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wooden Kitchen Furniture Production in Serbia

In value terms, wooden kitchen furniture production skyrocketed to $X in 2022 estimated in export price. In general, production saw resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 70%. Over the period under review, production hit record highs in 2022 and is likely to continue growth in years to come.

Wooden Kitchen Furniture Exports

Exports from Serbia

In 2022, shipments abroad of wooden furniture for kitchens decreased by -38.7% to X units, falling for the third consecutive year after three years of growth. In general, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 116%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 166%. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Croatia (X units), Switzerland (X units) and Italy (X units) were the main destinations of wooden kitchen furniture exports from Serbia, with a combined 48% share 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 Italy (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Switzerland ($X) and Italy ($X) appeared to be the largest markets for wooden kitchen furniture exported from Serbia worldwide, with a combined 48% share of total exports.

Italy, with a CAGR of +55.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden kitchen furniture export price stood at $X per unit in 2022, with an increase of 40% against the previous year. Over the period under review, the export price continues to indicate prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($X per unit) and Switzerland ($X per unit), while the average price for exports to Germany ($X per unit) and Italy ($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 (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Serbia

In 2022, imports of wooden furniture for kitchens into Serbia expanded slightly to X units, with an increase of 2.1% compared with the previous year's figure. Overall, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, wooden kitchen furniture imports amounted to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of wooden kitchen furniture to Serbia, with a 42% share of total imports. Moreover, wooden kitchen furniture imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X units), twofold. Austria (X units) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+22.4% per year) and Austria (+13.2% per year).

In value terms, Germany ($X) constituted the largest supplier of wooden furniture for kitchens to Serbia, comprising 42% of total imports. The second position in the ranking was taken by Poland ($X), with a 20% share of total imports. It was followed by Austria, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+22.0% per year) and Austria (+12.8% per year).

Import Prices by Country

In 2022, the average wooden kitchen furniture import price amounted to $X per unit, rising by 2.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 21%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform