Market Trends of Latin America Kitchen Furniture Industry
This section covers the major market trends shaping the Latin America Kitchen Furniture Market according to our research experts:
Growing Wood Furniture Exports from Brazil is Driving the Market Growth
In the kitchen furniture market, wood is the most commonly utilised material. Brazilian wooden furniture exports climbed 30.5% in value in February 2021 compared to February 2020, followed by a 0.3% fall in 2019 compared to 2018. The United States, Uruguay, the United Kingdom, France, Canada, and the Netherlands are the main destinations for Brazilian wooden furniture exports. Following a significant drop in 2019, exports to the United Kingdom increased for three of the four quarters, with only April-June deliveries falling short of expectations, and Brazil exports in Q4 of 2020 more than doubled those in Q4 of 2019. June and July 2020 were exponential months and this growth happened due to the pandemic.
Continuous Growth in Construction is Driving the Market
Since the decade, the continuous increase in residential and commercial constructions, with the highest growth seen in Detached Prestige Houses, followed by High Rise Apartments, and Aged Care units in various regions of Latin America, primarily focusing on Brazil, Columbia, Argentina, and Chile, has led to economic development and the growth of kitchen furniture in the region. In the future years, this increase and demand for kitchen furniture are expected to continue.
