Republic of Korea - Wooden Furniture of A Kind Used in the Bedroom - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Wooden Bedroom Furniture Market 2024
Wooden Bedroom Furniture Market Size in Republic of Korea
In 2022, the South Korean wooden bedroom furniture market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Wooden bedroom furniture consumption peaked at $X in 2021, and then reduced in the following year.
Wooden Bedroom Furniture Production in Republic of Korea
In value terms, wooden bedroom furniture production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild descent. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Wooden bedroom furniture production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.
Wooden Bedroom Furniture Exports
Exports from Republic of Korea
In 2022, exports of wooden furniture of a kind used in the bedroom from South Korea reached X units, with an increase of X% compared with 2021 figures. In general, exports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.
In value terms, wooden bedroom furniture exports rose markedly to $X in 2022. Over the period under review, exports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.
Exports by Country
The Philippines (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main destinations of wooden bedroom furniture exports from South Korea, together accounting for X% of total exports.
From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the Philippines ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest markets for wooden bedroom furniture exported from South Korea worldwide, together accounting for X% of total exports.
Among the main countries of destination, Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average wooden bedroom furniture export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and China ($X per unit), while the average price for exports to Australia ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.
Wooden Bedroom Furniture Imports
Imports into Republic of Korea
In 2022, purchases abroad of wooden furniture of a kind used in the bedroom decreased by X% to X units, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.
In value terms, wooden bedroom furniture imports dropped significantly to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at $X in 2021, and then shrank significantly in the following year.
Imports by Country
In 2022, China (X units) constituted the largest supplier of wooden bedroom furniture to South Korea, with a X% share of total imports. Moreover, wooden bedroom furniture imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was held by Italy (X units), with a X% share.
From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Italy (X% per year).
In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to South Korea, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Italy, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Italy (X% per year).
Import Prices by Country
In 2022, the average wooden bedroom furniture import price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price showed a mild expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per unit) and Vietnam ($X per unit), while the price for Indonesia ($X per unit) and China ($X per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the wooden bedroom furniture market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 31091230 - Wooden bedroom furniture (excluding builders
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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