Vietnam drives China out of US wood kitchen furniture market
IndexBox has just published a new report: ‘US – Wooden Furniture of a Type Used in Kitchen – Market Analysis, Forecast, Size, Trends and Information’. Here is a summary of the main findings of the report.
In 2020, US imports of wooden kitchen furniture climbed + 22% year-on-year to 52 million units or $ 1.9 billion in value. Supplies from Vietnam and Malaysia offset the dramatic drop in imports from China after tariff increases on Chinese products. Among the other countries, Indonesia, Taiwan, Thailand and Mexico experienced the largest increases in wood kitchen furniture exports to the United States. The average price of imports of wooden kitchen furniture fell -18.1% from the previous year.
United States Imports of Wooden Kitchen Furniture by Country
In 2020, the quantity of wooden kitchen furniture imported to the United States reached 52 million units, an increase of 22% from 2019. In terms of value, imports of wooden kitchen furniture totaled $ 1.9 billion in 2020 (IndexBox estimates).
In 2020, Vietnam ousted China from the leading position in American imports and became the largest exporter of wooden kitchen furniture to the United States. Over the past year, Vietnam’s supplies have grown from $ 224 million to $ 487 million. Malaysia took second place in the list of top suppliers to America, increasing its exports to the United States from $ 148 million in 2019 to $ 415 million in 2020. Indonesia recorded the strongest increase in kitchen furniture exports to the United States In 2020, Indonesia increased its supplies from $ 13 million to $ 103 million. Among other countries, Taiwan, Thailand and Mexico recorded the largest increases in kitchen furniture exports to the United States.
Vietnam (16 million units), Malaysia (11 million units) and Canada (6.1 million units) were the main suppliers of wood kitchen furniture imports to the United States, with a combined share of 64% of total imports. China, Indonesia, Mexico, Italy, Taiwan and Thailand lag somewhat behind, together accounting for an additional 27%.
In terms of value, the largest suppliers of wood kitchen furniture to the United States were Vietnam ($ 487 million), Malaysia ($ 415 million) and Canada ($ 301 million), together accounting for 62 % of total imports. China, Italy, Indonesia, Mexico, Thailand and Taiwan lag somewhat behind, together accounting for an additional 28%.
The average import price for wood kitchen furniture was $ 37 per unit in 2020, down -18.1% from the previous year. Prices varied significantly depending on the country of origin; the country with the highest price was Italy, while the price for Taiwan was among the lowest.
Source: IndexBox platform