The UK market for wooden furniture used in kitchens is expected to show sustained growth over the next decade, with forecasts indicating a positive outlook in both volume and value. According to the latest report by IndexBox, the market is projected to grow at a compound annual growth rate (CAGR) of 2.6% in volume and 2.9% in value, reaching 51 million units and $3.1 billion by 2035.
The report notes that the increase in demand for wooden furniture in kitchens will continue to drive the market's growth. 'The market is forecast to expand steadily, with an anticipated CAGR of 2.6% in volume and 2.9% in value from 2024 to 2035,' the report states. 'This growth reflects a continued upward trend in consumption.'
Despite the long-term optimism, recent figures reveal a slight dip in both production and consumption. In 2024, the consumption of wooden kitchen furniture decreased by 0.2%, dropping to 38 million units. This marks the second consecutive year of decline after three years of growth. The total market value in 2024 stood at $2.3 billion, reflecting a modest 1.6% increase compared to the previous year.
The production of wooden kitchen furniture in the UK remained relatively stable in 2024, at approximately 34 million units, following a steady growth trend at an average annual rate of 1.2% from 2013 to 2024. The value of UK production in 2024 was estimated at $2 billion, with a growth rate of 1.9% over the past decade.
On the import side, the UK's overseas purchases of wooden kitchen furniture fell by 6.1% to 5.6 million units in 2024, continuing a two-year trend of decline after a period of rapid growth. Import values also decreased to $332 million, a drop from the previous year's $359 million. Germany remained the UK's largest supplier of wooden kitchen furniture, providing 52% of total imports.
'Germany, Italy, and the Netherlands are key suppliers, with Germany continuing to dominate both in volume and value terms,' the report highlights. 'Germany's wooden kitchen furniture exports to the UK accounted for 52% of total imports, valued at $184 million.'
In contrast, UK exports of wooden kitchen furniture saw a significant decline in 2024, falling by 19.1% to 893,000 units. This decrease, along with a drop in export value to $55 million, marks a sharp contrast to the previous year's performance.
The report also provides insights into key export markets. Ireland, the United States, and France remain the largest destinations for UK wooden kitchen furniture, accounting for 73% of total exports. 'Ireland, the United States, and France are key markets for UK exports, collectively representing a 73% share of total shipments,' the report details.
Despite the decline in recent years, the overall growth trajectory of the market indicates that demand for wooden kitchen furniture in the UK remains robust, with future growth expected as the sector recovers and expands through 2035.
This detailed analysis underscores the evolving landscape of the UK wooden kitchen furniture market, highlighting both challenges and opportunities for businesses within the sector.
More information:
IndexBox Market Intelligence Platform
www.indexbox.io