South-Eastern Asia: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in South-Eastern Asia

The Southeast Asian wooden kitchen furniture market surged to $X in 2022, growing by 34% against the previous year. Over the period under review, consumption saw slight growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wooden Kitchen Furniture Production in South-Eastern Asia

In value terms, wooden kitchen furniture production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of wooden furniture for kitchens decreased by -43.4% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 209% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted notably in the following year.

In value terms, wooden kitchen furniture exports contracted modestly to $X in 2022. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 144%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Malaysia represented the largest exporter of wooden furniture for kitchens in South-Eastern Asia, with the volume of exports recording X units, which was near 53% of total exports in 2022. Thailand (X units) ranks second in terms of the total exports with a 16% share, followed by Vietnam (15%) and Indonesia (13%). Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wooden kitchen furniture exports from Malaysia stood at +9.5%. At the same time, Cambodia (+95.5%), Thailand (+17.6%), Indonesia (+12.9%) and Vietnam (+4.6%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +95.5% from 2012-2022. Thailand (+7.5 p.p.), Cambodia (+2.9 p.p.) and Indonesia (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Vietnam saw its share reduced by -2.8% and -10.3% from 2012 to 2022, respectively.

In value terms, Vietnam ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 91% share of total exports. Indonesia and Cambodia lagged somewhat behind, together accounting for a further 8.6%.

Cambodia, with a CAGR of +90.6%, recorded 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, picking up by 69% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.8%), while the other leaders experienced mixed trends in the export price figures.

Wooden Kitchen Furniture Imports

Imports in South-Eastern Asia

In 2022, wooden kitchen furniture imports in South-Eastern Asia rose sharply to X units, with an increase of 5.2% on 2021. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 80% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wooden kitchen furniture imports totaled $X in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 112% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia was the largest importer of wooden furniture for kitchens in South-Eastern Asia, with the volume of imports accounting for X units, which was approx. 67% of total imports in 2022. The Philippines (X units) held the second position in the ranking, followed by Thailand (X units) and Indonesia (X units). All these countries together took approx. 27% share of total imports. The following importers - Singapore (X units) and Vietnam (X units) - together made up 4.8% of total imports.

Malaysia was also the fastest-growing in terms of the wooden furniture for kitchens imports, with a CAGR of +28.2% from 2012 to 2022. At the same time, Indonesia (+25.1%), Vietnam (+23.2%), the Philippines (+17.4%) and Thailand (+16.8%) displayed positive paces of growth. By contrast, Singapore (-2.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Indonesia increased by +30 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported wooden furniture for kitchens in South-Eastern Asia, comprising 78% of total imports. The second position in the ranking was taken by Thailand ($X), with a 5.4% share of total imports. It was followed by Indonesia, with a 4.9% share.

In Malaysia, wooden kitchen furniture imports expanded at an average annual rate of +36.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+9.4% per year) and Indonesia (+17.9% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, with a decrease of -1.9% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 increased by +90.0% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of 60%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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