Singapore: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Singapore

In 2022, the Singaporean wooden bedroom furniture market increased by 15% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Wooden bedroom furniture consumption peaked in 2022 and is likely to see steady growth in the near future.

Wooden Bedroom Furniture Production in Singapore

In value terms, wooden bedroom furniture production rose to $X in 2022 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +9.2% 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 -1.7% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 92%. Wooden bedroom furniture production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports from Singapore

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a abrupt decrease. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wooden bedroom furniture exports skyrocketed to $X in 2022. Overall, exports, however, saw a drastic downturn. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for wooden bedroom furniture exports from Singapore, with a 49% share of total exports. Moreover, wooden bedroom furniture exports to the UK exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was held by Bangladesh (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +91.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-10.8% per year) and Bangladesh (+34.1% per year).

In value terms, the UK ($X) emerged as the key foreign market for wooden furniture of a kind used in the bedroom exports from Singapore, comprising 46% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 18% share of total exports. It was followed by Bangladesh, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +97.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-10.9% per year) and Bangladesh (+33.5% per year).

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, approximately equating the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 31%. The export price peaked at $X per unit in 2014; however, from 2015 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 the United Arab Emirates ($X per unit), while the average price for exports to Indonesia ($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 the UK (+3.4%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Singapore

In 2022, purchases abroad of wooden furniture of a kind used in the bedroom increased by 38% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a noticeable setback. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, wooden bedroom furniture imports surged to $X in 2022. Over the period under review, imports, however, recorded a pronounced contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X units), China (X units) and Italy (X units) were the main suppliers of wooden bedroom furniture imports to Singapore, with a combined 87% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +14.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest wooden bedroom furniture suppliers to Singapore were Malaysia ($X), China ($X) and Italy ($X), with a combined 85% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +13.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average wooden bedroom furniture import price amounted to $X per unit, increasing by 2.7% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 25% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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