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Kitchen Cabinet Global Market Report 2024
The kitchen cabinet market size has grown strongly in recent years. It will grow from $144.51 billion in 2023 to $156.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to housing boom, traditional design trends, economic stability, material preferences, limited customization, functional considerations. The kitchen cabinet market size is expected to see strong growth in the next few years. It will grow to $210.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growt
Kitchen & Dining Furniture - Worldwide
· Revenue in the Kitchen & Dining Furniture Market is projected to reach US$58.57bn in 2024. · Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.17%, resulting in a projected market volume of US$90.81bn by 2029. · With a projected market volume of US$32,150.00m in 2024, most revenue is generated in the United States. · In the Kitchen & Dining Furniture Market, the number of users is expected to amount to 1.0bn users by 2029. · User penetration will be 10.8% in 2024 and is expected
China Furniture Market Forecast to Grow at a CAGR of 11.3%
The China furniture market is experiencing significant growth, driven by increasing consumer disposable income and rising expenditure on home decor. The market is also benefiting from the booming tourism industry and substantial investments in the hospitality sector, including airports, hotels, and restaurants.
China's Green Building Materials Sector: Policies and Investment Opportunities
China's green building materials sector presents great opportunities for foreign investment, given the country's vast real estate market and ambitious plans to meet high environmental standards and serve climate-conscious goals. Foreign investors are advised to keep a close eye on policy developments impacting this sector.
Chinese Imports Kitchen Cabinet are Increasing In Canada
From 2014 to 2023, the value of Chinese kitchen cabinet imports to Canada surged from CAD 32,508,000 to CAD 58,769,000. During the same period, imports from the United States declined dramatically, while Italian imports showed a substantial increase. In 2014, U.S. imports were valued at CAD 98,661,000 but plummeted to CAD 19,880,000 by 2023. Conversely, Italian imports rose from CAD 14,375,000 to CAD 40,401,000 over the same period.
THE KITCHEN FURNITURE MARKET IN CHINA
Kitchen furniture exports and imports are broken down by country and by geographical region of origin/destination. Historical data are provided for the time frame 2016-2021. A similar analysis was conducted for the international trade of a list of selected appliances (refrigerator and freezers, cooking appliances, clothes washers and driers, dishwashing machines, hoods) relevant for the kitchen industry for the period 2016-2021. Chinese kitchen production is analysed by including historical series of kitchen production in value and volume for the years 20
China is the world's largest furniture producer and exporter
In April 2024, China's own furniture retail sales were about 11 billion yuan (over 1.4 billion euros: 1,413,500,000). This indicates a slight increase compared to the same period last year, according to Statista. After decades of development in the furniture industry, China has become the world's largest furniture producer and exporter. Being one of China's main exports, a significant proportion of Chinese furn
China's furniture industry sees steady recovery in Jan-Feb 2024
BEIJING, May 4 (Xinhua) -- China's furniture industry reported a strong rebound in the first two months of 2024, data from the Ministry of Industry and Information Technology showed. The combined operating revenue of the country's major furniture manufacturers rose 14.9 percent year on year to 91.78 billion yuan (about 12.92 billion U.S. dollars), according to the ministry. These companies generated total profits of 4.71 billion yuan in the same period -- skyrocketing 198.1 percent year on year. The optimization and adjustment of local real estate p
Room for Growth: Home Furnishings Industry Showing Areas of Opportunity
While the supply chain recovered, inflation and rising interest rates contributed to slowing demand throughout 2022 and 2023 as the industry contracted 5.2%. As shipments were delivered, retailers found themselves with excessive inventory. The surplus led to significant gross margin contractions as retailers discounted heavily to move products throughout 2022 and 2023. The chart below highlights the volatility the industry has experienced as reflected by the Monthly Sales for Retail and Food Services Report, published by U.S. Census Bureau over the last three yea
Momentum lost: U.S. furniture exports fall in 2023
A year after registering a 4% increase in exports, the United States furniture market has given back that gain - and then some - ending 2023 with a 4% decrease for a total of $2.297 billion vs. $2.399 billion in 2022.
Index of China's manufacturing output reports fastest growth in 2 years
HIGH POINT - A key privately reported index of China's manufacturing activity showed its strongest gains in two years for the month of May, driven by production increases and new orders. Caixin/S&P global's purchasing managers index (PMI) increased to 51.7 from 51.4 in April. Any number above 50 represents growth, while a number under 50 indicates contraction. This index has now been i
In 2022, lumber imports fell, and the average price of softwood still rose by 7%
According to the latest statistics from TDUK, imports of major wood and panel products to the UK in 2022 will decrease by 2.4 million cubic meters to 9.3 million cubic meters compared with the same period of the previous year, a year-on-year decrease of 25.8%. Among them, this is mainly related to the reduction in cork imports. Figures show UK softwood log imports in 2022 are down 25% from the record 2021
On February 15, the China Building Materials Circulation Association released the National Building Materials and Home Furnishing Prosperity Index BHI. The data shows that the national building materials and household prosperity index BHI was 119.88 in February, an increase of 24.26 points month-on-month and 16.91 points year-on-year. The February sales of building materials and home furnishing stores above designated size nationwide were 113.027 billion yuan, up 44.18% month-on-month and 34.54
Containers from Asia to the United States plunged 29% in February, mainly in furniture and toys
According to data released by Descartes Datamyne, a US research firm, the volume of sea containers shipped from Asia to the United States in February was 1,189,997 (converted into 20-foot containers), down 29% year-on-year and expanding again from January (17%). Among them, China's container exports to the United States fell by 25.4%, Japan by 19.9%, Indonesia by 14.2%, Vietnam by 12.5%, Bangladesh
Furniture shipments from Asia to the United States stalled in February, down 37% year-on-year
News on March 17, data released by the US research firm Descartes Datamyne showed that the volume of sea container shipments from Asia to the United States in February was 1,189,997, a year-on-year decrease of 29%, and the decline was again wider than in January (17%). Against the backdrop of inflation in the United States, freight shipments in the furniture category have stagnated. The furniture category, which accounts for nearly 20% of the transportation volume, fell sharply by 37% year-on-year, affe
Recently, driven by the expected recovery in the real estate market, the home furnishing industry, which is the back-end consumer industry of the real estate link, has also ushered in an improvement in sales. Some brokerages said that the sales of the home furnishing industry are affected by more than 60% of real estate. The continuous effectiveness of the policy will help to ensure the delivery of new houses, drive the demand for home furnishing listed companies to strengthen, and their performance to
Export performance in January-February was better than expected
According to data released by the General Administration of Customs on Tuesday, in terms of US dollars, China`s exports from January to February fell by 6.8% year-on-year, a decrease of 3.1 percentage points from December; imports fell by 10.2% year-on-year, a decline of 2.7 percentage points from December. From January to February, the trade surplus was US$116.89 billion. Exports performed
On the afternoon of December 12, sponsored by Shanghai Furniture Industry Association and Shanghai Creative City Think Tank, co-hosted by Shanghai UBM International Exhibition Co., Ltd., co-organized by China Brand and 800 Show, "Future Home Furnishing Future - Furnishing Metaverse Summit Forum" The 800 show in Shanghai was successfully held.
According to the information compiled and released by the Circulation Industry Development Department of the Ministry of Commerce and the China Building Materials Circulation Association, the National Building Materials and Home Furnishing Prosperity Index BHI in November was 86.52, down 11.60 points month-on-month and 52.98 points year-on-year. According to the China Building Materials Circulation Association, the winter off-season is approaching, and the situation of epidemic prevention and control in
Apple China officially launched the smart home segment
Recently, technology giant Apple officially entered the smart home field in the Chinese market. At present, the official website of Apple China has developed a separate home section (Apple Home). Judging from the page, the home furnishing sector is mainly divided into three categories: HomePod, Home App (family App) and smart home items.
With an increase of 6.7%, Vietnam's furniture exports will reach US$15.8 billion in 2022
According to the Vietnam News Agency, the latest statistics from the General Administration of Customs of Vietnam show that the export value of Vietnam's timber and wood products is expected to reach US$15.8 billion in 2022, a year-on-year increase of 6.7%. Meanwhile, Vietnam's imports of lumber and wood products rose 4.1 percent to $2.8 billion. The trade surplus is expected to be $14.1 billion, up 6.5 percent from last year.
The national building materials and household prosperity index BHI was 88.93 in December, up 2.41 points month-on-month and down 34.30 points year-on-year. The December sales of building materials and home furnishing stores above designated size nationwide were 71.825 billion yuan, an increase of 18% month-on-month and a year-on-year decrease of 39.91%; the cumulative sales for the whole year of 2022 were 1,161.076 billion yuan, a year-on-year decrease of 1.39%.
The value-added tax invoice data released by the State Administration of Taxation shows that during the Spring Festival holiday in 2023, the sales revenue of consumption-related industries across the country will increase by 12.2% compared with the Spring Festival holiday of the previous year, and an average annual increase of 12.4% over the Spring Festival holiday in 2019, maintaining a steady growth overall.
Annual inventory: 2022 home furnishing industry big data released
Recently, the major data of the home furnishing industry in 2022 have been released. According to data from the National Bureau of Statistics, the total retail sales of furniture in the country will be 163.5 billion yuan in 2022, a year-on-year decrease of 7.5%. From the perspective of major financial indicators, the operating income of the national furniture manufacturing industry in 2022 will be 762.41 billion yuan, a year-on-year decrease of 8.1%; operating costs will be 631.35 billion yuan, a year-o
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Privacy statement: Your privacy is very important to Us. Our company promises not to disclose your personal information to any external company with out your explicit permission.