Thailand: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Thailand

The Thai wooden kitchen furniture market surged to $X in 2022, with an increase of 20% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in Thailand

In value terms, wooden kitchen furniture production rose to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value 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, production decreased by -3.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 27%. Wooden kitchen furniture production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports from Thailand

After two years of growth, shipments abroad of wooden furniture for kitchens decreased by -17.7% to X units in 2022. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 327% against the previous year. The exports peaked at X units in 2021, and then shrank significantly in the following year.

In value terms, wooden kitchen furniture exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 when exports increased by 293%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for wooden kitchen furniture exports from Thailand, with a 96% share of total exports. It was followed by Japan (X units), with a 0.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-17.4% per year) and the UK (-10.9% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture for kitchens exports from Thailand, comprising 97% of total exports. The second position in the ranking was held by Japan ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-6.8% per year) and the UK (-10.3% per year).

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, rising by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2019 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the UK ($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 Japan (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Thailand

In 2022, the amount of wooden furniture for kitchens imported into Thailand surged to X units, rising by 62% compared with the previous year's figure. In general, imports saw buoyant growth. The growth pace was the most rapid in 2016 when imports increased by 133%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, wooden kitchen furniture imports skyrocketed to $X in 2022. Over the period under review, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Malaysia (X units) and Denmark (X units) were the main suppliers of wooden kitchen furniture imports to Thailand, together accounting for 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +69.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of wooden furniture for kitchens to Thailand, comprising 46% of total imports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total imports. It was followed by Germany, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+4.7% per year) and Germany (+11.6% per year).

Import Prices by Country

In 2022, the average wooden kitchen furniture import price amounted to $X per unit, remaining stable against the previous year. Overall, the import price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 36%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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