Kitchen furniture: world market outlook
18 December 2019
The kitchen furniture business is one of the most innovative segments of the industry in terms of new materials, coverings, and devices; as well as for the introduction of new appliance technologies. The 14th edition of the Report “Kitchen Furniture World Market Outlook” (November 2019) aims at offering an accurate picture of the kitchen furniture industry worldwide focusing on 60 countries, selected according to their contribution to the international trade of kitchen furniture.
World production of kitchen furniture was worth around US$ 57 billion in the year 2018, accounting for about 12% of total world furniture production. If compared to the previous year, kitchen furniture production increased by 5% in US$. World kitchen furniture production includes US$ 49 billion for local consumption in the manufacturing countries and US$ 7.6 billion for exports, which constitute the international kitchen furniture trade. World consumption of kitchen furniture (valued at production prices, excluding mark-up) accounting for about 13% of total world home furniture consumption.
MODEST OPENNESS TO FOREIGN MARKETS
The kitchen furniture sector is still not very open to international trade. The import penetration (imports/consumption ratio valued in current US$) for the 60 countries as a whole has been around 10%-11% during the last years. After a slight contraction in 2015, the value of international trade of kitchen furniture has kept growing. With an average annual rate of growth of 5% in US$ over the last five years, it reached US$ 6.9 billion in 2018. In terms of units, the total market can be estimated in around 26 million kitchens produced in 2018, increasing by 2.4% if compared to the previous year. Approximately 2.4 million units of kitchens were exported in 2018, representing about 9% of the total production of kitchens in quantity.
The largest markets are the United States, China, Japan, and Germany. Other major markets are the United Kingdom, Canada, France, Italy, South Korea, and Russia. According to the ranking of the main exporting countries between the years 2013 and 2018, Germany is by far the leading exporter. China gains the second position; Italy ranks third since 2012. Malaysia and Vietnam are the second and the third largest kitchen furniture exporter in Asia. After the United States, the main importing countries of kitchen furniture are France, The Netherlands, and Switzerland.
WORLD TRADE FORECAST
In the next five years, the world trade of kitchen furniture is expected to run faster than the kitchen furniture consumption worldwide. According to CSIL forecasts, the world trade of kitchen furniture is expected to reach US$ 8 billion by 2023. In the medium term (2020- 2023), kitchen furniture sales (in volume) are expected to grow approximately at an average rate of 2.7% per year.
The CSIL Report “Kitchen Furniture World Market Outlook” offers status and prospects of the kitchen furniture industry worldwide focusing on 60 countries, which are relevant for their contribution to the international trade of kitchen furniture.
The 14th edition of the Report has been issued in November 2019 and is available for online purchase and download at: https://www.worldfurnitureonline.com/research-market/world-furniture-outlook-0058524.html