Wooden Kitchen Furniture Market

The article discusses the current state and future projections of the global wooden furniture market for kitchens. It highlights the trends in consumption, production, imports, and exports, with a focus on key countries such as the United States, China, Italy, and Germany. The data shows steady growth in both volume and value terms, with the United States leading in consumption and imports, while Germany is the largest exporter of wooden kitchen furniture.

Market Forecast

Driven by increasing demand for wooden furniture for kitchens worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 934M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $85B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wooden Furniture For Kitchens

In 2022, approx. 884M units of wooden furniture for kitchens were consumed worldwide; picking up by 2.7% on the previous year. The total consumption volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 8.9% against the previous year. Over the period under review, global consumption reached the peak volume in 2022 and is expected to retain growth in the immediate term.

The global wooden kitchen furniture market value rose slightly to $67.4B in 2022, increasing by 3.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $68.3B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The United States (328M units) remains the largest wooden kitchen furniture consuming country worldwide, accounting for 37% of total volume. Moreover, wooden kitchen furniture consumption in the United States exceeded the figures recorded by the second-largest consumer, China (143M units), twofold. The third position in this ranking was held by the UK (38M units), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States stood at +5.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+2.4% per year) and the UK (+4.5% per year).

In value terms, the United States ($19B) led the market, alone. The second position in the ranking was held by Bangladesh ($6.6B). It was followed by China.

In the United States, the wooden kitchen furniture market increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Bangladesh (+1.4% per year) and China (+1.9% per year).

The countries with the highest levels of wooden kitchen furniture per capita consumption in 2022 were the United States (977 units per 1000 persons), the UK (554 units per 1000 persons) and Italy (512 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Italy (with a CAGR of +7.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Wooden Furniture For Kitchens

In 2022, approx. 846M units of wooden furniture for kitchens were produced worldwide; falling by -1.8% on 2021 figures. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 8.2%. Over the period under review, global production hit record highs at 922M units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, wooden kitchen furniture production reached $67.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. As a result, production reached the peak level of $73.3B. From 2019 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (247M units), China (161M units) and Italy (35M units), together accounting for 52% of global production. The UK, Germany, Japan, Nigeria, Indonesia, Bangladesh, Vietnam, Malaysia, Brazil and Mexico lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +8.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Wooden Furniture For Kitchens

Global wooden kitchen furniture imports surged to 131M units in 2022, with an increase of 30% on 2021 figures. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wooden kitchen furniture imports totaled $8.7B in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

The United States prevails in imports structure, reaching 81M units, which was approx. 62% of total imports in 2022. Norway (5.7M units), Switzerland (5.6M units), the UK (5.4M units), Malaysia (4.1M units) and Japan (2.3M units) took a minor share of total imports.

The United States was also the fastest-growing in terms of the wooden furniture for kitchens imports, with a CAGR of +39.0% from 2012 to 2022. At the same time, Malaysia (+25.9%), the UK (+10.2%), Japan (+6.7%) and Norway (+3.9%) displayed positive paces of growth. Switzerland experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United States and Malaysia increased by +57 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3B) constitutes the largest market for imported wooden furniture for kitchens worldwide, comprising 35% of global imports. The second position in the ranking was held by Switzerland ($369M), with a 4.2% share of global imports. It was followed by the UK, with a 4.1% share.

In the United States, wooden kitchen furniture imports expanded at an average annual rate of +13.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Switzerland (+0.3% per year) and the UK (+9.8% per year).

Import Prices By Country

In 2022, the average wooden kitchen furniture import price amounted to $66 per unit, reducing by -16.9% against the previous year. Overall, the import price recorded a perceptible decline. The growth pace was the most rapid in 2020 when the average import price increased by 35% against the previous year. As a result, import price attained the peak level of $83 per unit. From 2021 to 2022, the average import prices remained at a lower figure.

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 Japan ($66 per unit), while Malaysia ($36 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.1%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Wooden Furniture For Kitchens

In 2022, global wooden kitchen furniture exports contracted to 92M units, which is down by -8.3% against 2021 figures. Overall, exports saw a mild decline. The pace of growth was the most pronounced in 2017 when exports increased by 13%. The global exports peaked at 154M units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports reached $9.4B in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +21.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports By Country

The biggest shipments were from China (20M units), Vietnam (17M units) and Malaysia (17M units), together finishing at 58% of total export. Canada (6.9M units) ranks next in terms of the total exports with a 7.5% share, followed by Italy (5.7%). Germany (3.9M units), Thailand (3.6M units), Mexico (3.1M units) and Indonesia (1.4M units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mexico (with a CAGR of +30.4%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.9B) remains the largest wooden kitchen furniture supplier worldwide, comprising 30% of global exports. The second position in the ranking was held by Italy ($1.1B), with a 12% share of global exports. It was followed by Vietnam, with a 12% share.

In Germany, wooden kitchen furniture exports expanded at an average annual rate of +4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+3.3% per year) and Vietnam (+23.8% per year).

Export Prices By Country

In 2022, the average wooden kitchen furniture export price amounted to $102 per unit, rising by 13% against the previous year. In general, the export price posted resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 72%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($730 per unit), while Malaysia ($36 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+29.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform