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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
The home furnishing industry may be restricted from IPO listing
Recently, it has been reported that the China Securities Regulatory Commission has clarified the industry requirements for companies applying for the main board, and draws a line between the prohibited, restricted, permitted and supported listing categories. According to the review rules circulated on the Internet, the listing of traditional industries such as food, furniture, and home appliances will be restricted. According to incomplete statistics from 77 Degrees, in 2022, more than 40 home furnishin
On December 5, the Chinese Academy of Social Sciences Institute of Financial Strategy and the Shell Research Institute released a report. According to the calculation of the Shell Research Institute, the total demand for housing decoration in my country during the period 2022-2030 will be between 3 billion and 5 billion square meters per year. The overall size of the home improvement and furnishing market will reach about 5 trillion yuan in 2025 and about 7 trillion yuan in 2030, with an average annual
Vietnam's wood product exports fell sharply by 21% in two months
The Ministry of Forestry of Vietnam, which was originally full of confidence in this year's timber export, has faced another situation in its timber export trade due to the cancellation of a large number of orders due to inflation in Europe and the United States. According to Vietnamese customs data, during the two-month period from August to September alone, Vietnam's wood product exports fell shar
China's furniture exports up 2.9% in July
The latest data released by the General Administration of Customs on August 7 shows that from January to July, the export value of Chinese furniture and its parts was 265.97 billion yuan, a year-on-year increase of 0.4%. From January to June, the export value of Chinese furniture and its parts was 226.47 billion yuan, a year-on-year increase of 0.2%. Furniture exports achieved positive growth for two consecutive months.
U.S. consumer furniture orders fell 20% in April, inventories soared 39%
On June 30, Smith Leonard of the United States released the latest "Furniture Insights" report, showing that new orders for residential furniture in the United States fell by 20% year-on-year in April, the fourth consecutive month of double-digit decline; shipments. Up 13% year-on-year, mainly from a large backlog of goods; backlog of orders fell 5% month-on-month from March, but increased 9% from April 2021 and 275% from April 2019; inventory surged again, compared to April 2019. In March, the month-on
From January to May, China's furniture exports were 185.8 billion, down 0.3%
On June 9, the General Administration of Customs released the import and export situation from January to May 2022. According to customs statistics, from January to May this year, the export value of furniture and its parts was 185.8 billion yuan, a year-on-year decrease of 0.3%; the export value of ceramic products was 74.32 billion yuan, a year-on-year increase of 6.6%; the export value of lamps,
China's cross-border e-commerce import and export increased nearly 10 times in five years
heng Qiuping, Vice Minister of Commerce, said that according to customs statistics, China's cross-border e-commerce imports and exports have increased nearly 10 times in five years, reaching 1.92 trillion yuan last year, an increase of 18.6%. At present, more than 30,000 companies have registered on the online comprehensive service platform of the c
A new round of crisis, sea freight may rebound strongly after falling for 15 consecutive weeks
According to the latest data released by the Shanghai Shipping Exchange on April 29, the Shanghai Export Containerized Freight Index fell 18.68 points to 3096.85 points last week, but its decline narrowed. To 0.4%, showing strong market demand. According to industry insiders, although the current container freight rate has dropped to a new low, with the gradual unblocking and resumption of work in Shanghai and the accumulation of empty containers in the United States, it may trigger a new round of port
Europe's log and timber trade is set to change dramatically with the fall in timber production in central Europe and the suspension of timber imports from Russia. The log market in Europe could be at an important turning point, with widespread deforestation in the region over the past four years due to outbreaks of the spruce bark beetle, leading to rapid logging, timber production and log exports in a sho
The latest, the United States exempts 15 categories of Chinese furniture, bedding tariffs
It is reported that since July 2018, the U.S. government has imposed tariffs on goods imported from China under Section 301 of the Trade Act of 1974. However, on October 8, 2021, the Office of the United States Trade Representative announced that it intends to re-exempt tariffs on 549 Chinese imports and is seeking public comment on this. Foreign media analysis, because the United States has been facing hi
U.S. furniture retail sales fell 1% to $12.32 billion in February
On March 16, U.S. time, the U.S. Department of Commerce released the latest monthly retail trade report. According to the report, sales of furniture and household goods totaled $12.32 billion in February, down 1.0% month-on-month from $12.441 billion in the previous month and up 7.4% year-on-year from $11.471 billion in February 2021. Overall, in the first two months of 2022, overall furniture consumer demand has slowed down. Conversely, over the past month, building materials and gardening equipment an
Down 0.2%, China's furniture exports from January to February were 71.53 billion yuan
The General Administration of Customs of China released the import and export situation for January-February 2022 on March 7 (in RMB). down 0.2% According to customs statistics, from January to February this year, the cumulative export value of Chinese furniture and its parts was 71.53 billion yuan, a year-on-year decrease of 0.2%.
UK retail furniture prices up 14.1% in January, breaking record again
According to the latest statistics from the Office for National Statistics, in January 2022, the UK furniture retail price (RPI) index reached a new high with an increase of 14.1%, and it was also the fifth consecutive month that the index exceeded 10%. The furniture production index for the month was 20%, and it is now five months in a row that the index has reached at least 20%. Retail sales of furniture and lighting products were £1.32bn in January 2022, up 51.3% from the sa
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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.