South-Eastern Asia: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in South-Eastern Asia

In 2022, the Southeast Asian wooden bedroom furniture market decreased by -6.2% to $X, falling for the third year in a row after three years of growth. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wooden Bedroom Furniture Production in South-Eastern Asia

In value terms, wooden bedroom furniture production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% 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 2018 with an increase of 16%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Wooden Bedroom Furniture Exports

Exports in South-Eastern Asia

In 2022, exports of wooden furniture of a kind used in the bedroom in South-Eastern Asia dropped modestly to X units, leveling off at 2021. Total exports indicated a moderate increase from 2012 to 2022: its volume 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, exports increased by +20.7% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 30% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.8% 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 2017 with an increase of 8.1%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Malaysia (X units) and Vietnam (X units) represented the key exporters of wooden furniture of a kind used in the bedroom in 2022, reaching approx. 46% and 41% of total exports, respectively. It was distantly followed by Indonesia (X units), committing an 11% share of total exports. Thailand (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +8.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden bedroom furniture supplying countries in South-Eastern Asia were Vietnam ($X), Malaysia ($X) and Indonesia ($X), together accounting for 98% of total exports.

Indonesia, with a CAGR of +6.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, surging by 2.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 27% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.4%), while the other leaders experienced a decline in the export price figures.

Wooden Bedroom Furniture Imports

Imports in South-Eastern Asia

In 2022, imports of wooden furniture of a kind used in the bedroom in South-Eastern Asia dropped to X units, shrinking by -10.6% on the previous year. Over the period under review, imports, however, posted a temperate expansion. The pace of growth was the most pronounced in 2016 with an increase of 65%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture imports stood at $X in 2022. Overall, imports, however, enjoyed slight growth. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X units) was the key importer of wooden furniture of a kind used in the bedroom, committing 42% of total imports. Malaysia (X units) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (13%), Thailand (9.5%) and Indonesia (4.8%). The following importers - Myanmar (X units) and Brunei Darussalam (X units) - each reached a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wooden bedroom furniture imports into the Philippines stood at +7.8%. At the same time, Myanmar (+30.7%), Brunei Darussalam (+4.7%), Thailand (+4.6%) and Malaysia (+4.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +30.7% from 2012-2022. By contrast, Singapore (-2.3%) and Indonesia (-2.8%) illustrated a downward trend over the same period. The Philippines (+14 p.p.), Myanmar (+2.9 p.p.) and Malaysia (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Singapore saw its share reduced by -4.1% and -10.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wooden bedroom furniture importing markets in South-Eastern Asia were Singapore ($X), Malaysia ($X) and the Philippines ($X), with a combined 66% share of total imports. Indonesia, Thailand, Brunei Darussalam and Myanmar lagged somewhat behind, together accounting for a further 28%.

Myanmar, with a CAGR of +12.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, increasing by 18% against the previous year. In general, the import price, however, continues to indicate a mild decline. The pace of growth appeared the most rapid in 2021 when the import price increased by 27% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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