Vietnam: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Vietnam

For the sixth consecutive year, the Vietnamese wooden kitchen furniture market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Wooden Kitchen Furniture Production in Vietnam

In value terms, wooden kitchen furniture production rose notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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Wooden Kitchen Furniture Exports

Exports from Vietnam

In 2022, the amount of wooden furniture for kitchens exported from Vietnam skyrocketed to X units, rising by X% against the previous year's figure. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, wooden kitchen furniture exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for wooden kitchen furniture exports from Vietnam, with a X% share of total exports. Moreover, wooden kitchen furniture exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and Japan ($X per unit), while the average price for exports to the UK ($X per unit) and Canada ($X per unit) were amongst the lowest.

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

Wooden Kitchen Furniture Imports

Imports into Vietnam

In 2022, overseas purchases of wooden furniture for kitchens decreased by X% to X units, falling for the fourth consecutive year after three years of growth. Over the period under review, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wooden kitchen furniture imports shrank sharply to $X in 2022. In general, imports, however, saw strong growth. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of wooden kitchen furniture imports to Vietnam, with a combined X% share of total imports. South Korea, Indonesia, Malaysia, the United States and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), Italy ($X) and Germany ($X) appeared to be the largest wooden kitchen furniture suppliers to Vietnam, together comprising X% of total imports. South Korea, Indonesia, Malaysia, the United States and Thailand lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Italy ($X per unit), while the price for Thailand ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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