Southern Asia: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Southern Asia

The South Asian wooden bedroom furniture market expanded significantly to $X in 2022, picking up by 5.4% against the previous year. The market value increased at an average annual rate of +2.1% 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 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Wooden Bedroom Furniture Production in Southern Asia

In value terms, wooden bedroom furniture production rose sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 25%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports in Southern Asia

In 2022, approx. X units of wooden furniture of a kind used in the bedroom were exported in Southern Asia; which is down by -16.4% on 2021 figures. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 125% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, wooden bedroom furniture exports reduced slightly to $X in 2022. In general, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 55% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

In 2022, India (X units) represented the major exporter of wooden furniture of a kind used in the bedroom, mixing up 66% of total exports. It was distantly followed by Sri Lanka (X units), creating a 30% share of total exports. Pakistan (X units) took a little share of total exports.

India was also the fastest-growing in terms of the wooden furniture of a kind used in the bedroom exports, with a CAGR of +14.6% from 2012 to 2022. At the same time, Sri Lanka (+7.2%) and Pakistan (+1.7%) displayed positive paces of growth. While the share of India (+18 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-4.6 p.p.) and Sri Lanka (-12.7 p.p.) displayed negative dynamics.

In value terms, India ($X), Sri Lanka ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2022, together accounting for 100% of total exports.

In terms of the main exporting countries, India, with a CAGR of +20.1%, saw the highest rates of growth with regard to the value of exports, 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 Southern Asia stood at $X per unit in 2022, rising by 14% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden bedroom furniture export price increased by +98.7% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 36% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the other leaders experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports in Southern Asia

For the third year in a row, Southern Asia recorded decline in overseas purchases of wooden furniture of a kind used in the bedroom, which decreased by -3.2% to X units in 2022. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 20%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, wooden bedroom furniture imports stood at $X in 2022. In general, imports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2017 when imports increased by 21%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units) was the major importer of wooden furniture of a kind used in the bedroom, making up 76% of total imports. Maldives (X units) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (6.7%).

Imports into India decreased at an average annual rate of -7.7% from 2012 to 2022. At the same time, Nepal (+32.1%) and Maldives (+8.8%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +32.1% from 2012-2022. While the share of Maldives (+9.9 p.p.) and Nepal (+6.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (-17.1 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported wooden furniture of a kind used in the bedroom in Southern Asia, comprising 78% of total imports. The second position in the ranking was taken by Maldives ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India totaled -3.3%. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+6.4% per year) and Nepal (+22.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, rising by 3.8% against the previous year. Over the period under review, the import price showed tangible growth. The most prominent rate of growth was recorded in 2020 when the import price increased by 41% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Maldives ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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