Report Update: Apr 1, 2024

Republic of Korea - Tableware And Kitchenware Of Wood - Market Analysis, Forecast, Size, Trends And Insights

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Price for Wood Kitchenware and Tableware in South Korea - 2022

Price for Wood Kitchenware and Tableware in South Korea (CIF) - 2022

The average wood kitchenware and tableware import price stood at $2,685 per ton in December 2022, with an increase of 6.5% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 when the average import price increased by 10% month-to-month. Over the period under review, average import prices reached the peak figure at $3,070 per ton in February 2022; however, from March 2022 to December 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($4,446 per ton), while the price for China ($2,207 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the prices for the other major suppliers experienced a decline.

Price for Wood Kitchenware and Tableware in South Korea (FOB) - 2022

The average wood kitchenware and tableware export price stood at $5,422 per ton in 2022, dropping by -9.7% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood kitchenware and tableware export price decreased by -5.4% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 28%. The export price peaked at $7,565 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($15,759 per ton), while the average price for exports to Russia ($2,711 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Kitchenware and Tableware in South Korea

In 2022, purchases abroad of tableware and kitchenware of wood decreased by -2.7% to 31K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.1% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 10% against the previous year.

In value terms, wood kitchenware and tableware imports declined to $79M in 2022. The total import value increased at an average annual rate of +8.3% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of $87M, and then declined in the following year.

Import of Wood Kitchenware and Tableware in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	41.3	45.0	40.4	48.4	5.4%
Vietnam	11.3	14.3	13.2	16.7	13.9%
Indonesia	2.7	4.3	4.7	5.9	29.8%
Others	7.4	8.1	29.0	8.5	4.7%
Total	62.6	71.7	87.3	79.5	8.3%

Top Suppliers of Wood Kitchenware and Tableware to South Korea in 2022:

China (24.7K tons)
Vietnam (3.5K tons)
Indonesia (1.4K tons)

Exports of Wood Kitchenware and Tableware in South Korea

Wood kitchenware and tableware exports from South Korea dropped remarkably to 226 tons in 2022, shrinking by -19.3% compared with 2021. In general, exports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 161% against the previous year. As a result, the exports reached the peak of 281 tons, and then fell markedly in the following year.

In value terms, wood kitchenware and tableware exports declined sharply to $1.2M in 2022. Overall, exports saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 118% against the previous year. As a result, the exports attained the peak of $1.7M, and then dropped remarkably in the following year.

Export of Wood Kitchenware and Tableware in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	250	163	364	264	1.8%
China	115	26.0	160	161	11.9%
Japan	181	110	237	148	-6.5%
Denmark	35.4	32.9	54.9	52.3	13.9%
Mongolia	29.3	22.9	51.0	46.1	16.3%
Vietnam	98.0	31.4	14.6	40.7	-25.4%
Singapore	51.4	19.5	44.1	39.8	-8.2%
Canada	35.6	11.6	36.0	33.6	-1.9%
Russia	63.9	1.2	1.1	16.6	-36.2%
Saudi Arabia	34.3	11.6	1.4	8.9	-36.2%
Philippines	94.1	39.0	97.0	6.0	-60.0%
Others	506	303	623	411	-6.7%
Total	1,494	772	1,684	1,228	-6.3%

Top Export Markets for Wood Kitchenware and Tableware from South Korea in 2022:

United States (65.4 tons)
China (45.0 tons)
Japan (9.4 tons)
Mongolia (9.2 tons)
Singapore (7.5 tons)
Denmark (7.5 tons)
Russia (6.1 tons)
Vietnam (4.9 tons)
Canada (4.6 tons)
Saudi Arabia (2.7 tons)
Philippines (2.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for wood kitchenware and tableware in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 16291200 - Tableware and kitchenware of wood

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023