The import of wooden kitchen furniture to Malaysia has shown fluctuating trends over the past decade, standing at 1050.1 thousand in 2023. The period from 2013 to 2023 indicates a series of ups and downs with significant growth; for instance, a remarkable jump in 2015 (+45.33%) contrasted with minor contractions in subsequent years. The 2021-2022 period witnessed modest expansion, with year-on-year variations of +10.03% and +4.25%, respectively. CAGR for the past five years stands at 7.41%, indicating a fairly steady upward movement. The year 2023 recorded a 3.99% increase and a 3.33% 5-year CAGR.
Future trends indicate continued growth, with a 5-year forecasted CAGR of 2.87% and an estimate of reaching 1260.8 thousand by 2028. A cumulative growth rate of 15.2% is anticipated during this period.
Trends to watch for include:
• The impact of global supply chain dynamics.
• Changes in consumer preferences towards sustainable and eco-friendly materials.
• Technological advancements in furniture manufacturing.
• Economic factors influencing disposable income and housing development rates.
