Market scenario- Kenya & East africa
The east African economies consume US $1.2 billion worth of furniture annually, of which 22 percent is imported. Since growth is driven by growing urban populations and purchasing power, growth prospects are favourable, and Kenya, Ethiopia, Tanzania and Uganda are likely to remain the dominant furniture Markets. Kenya is the largest market of furniture in east Africa. It is also the largest producer of furniture manufacturing twice as much as Ethiopia, the next biggest market. Looking at the furniture industry of Kenya we see great potential of wood working machinery, given the fact that they are dependent on importing it from different countries.
Share a few points regarding contribution of wood industry in Kenya.
- Kenya is largest market for Particle board, Gypsum board, MDF board and Plywood.
- In Kenya the demand of furniture is growing at 10% per year.
- Kenya and East Africa is a very big market for laminate products.
- In Kenya plywood mills consume 15 percent of industrial wood available for furniture.
- Kenya’s wood carving sector is estimated to utilize 600 tonnes of wood annually.
- The industry produces approx. Kshs 4.5 billion of furniture per year.
- The sector contributes about 5% to the county’s GDP.