Market Size of Latin America Kitchen Furniture Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | < 2.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Latin America Kitchen Furniture Market Analysis
The Latin Kitchen Furniture Market offers a large variety of kitchen organizers and seating options. Wood, glass, fibre, metal, and other materials are used to make kitchen furniture, with the majority of the wood coming from Brazil. The authentic, handcrafted classic American kitchen furniture designs are primarily found in Latin American countries, causing the Latin Kitchen furniture market to grow over the forecast period.
A new trend of custom-made furniture is carefully designed to satisfy high standards and match varied tastes and expectations across Latin America, inspired by European style with a blend of Brazilian flavours. Because of their large customer bases, the Brazil, Peru, and Columbia markets have contributed significantly to regional expansion. The need for kitchen furniture cabinets, storage, and countertops is expected to rise as new buildings are constructed. Peru has seen a rise in traditional furniture styles, resulting in a surge in demand for Latin American kitchen furniture from abroad.
The figures have become less predictable because of changes in consumer habits at least partly brought about by the pandemic because of a sudden change in expenditure behaviours by the families. The coronavirus pandemic has shown an impact on the proper functioning of whole furniture industry in various countries of Latin America. Peru was hit hard across the Latin America region by COVID-19 which decreased its trade-in first three quarters of 2020 by a huge rate. However, Brazil furniture sales rose in April from the previous month as consumers increased purchases of furniture and related goods thus, leading the market in an upward trend throughout the forecast period.