ASEAN: Mattress Market 2024

Mattress Market Size in ASEAN

The ASEAN mattress market contracted to $X in 2022, waning by -11.9% against the previous year. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -24.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Mattress Production in ASEAN

In value terms, mattress production declined to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 46%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports in ASEAN

In 2022, approx. X units of mattresses were exported in ASEAN; jumping by 41% on 2021. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of 165%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, mattress exports skyrocketed to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 127% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X units), Vietnam (X units) and Thailand (X units) was the largest exporter of mattresses in ASEAN, comprising 85% of total export. It was distantly followed by Malaysia (X units), committing a 9.2% share of total exports. Singapore (X units) and Myanmar (X units) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +80.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest mattress supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 19% share of total exports. It was followed by Thailand, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled +42.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+31.5% per year) and Thailand (+13.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, with a decrease of -9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2021 an increase of 23% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Mattress Imports

Imports in ASEAN

Mattress imports dropped to X units in 2022, reducing by -1.9% compared with the year before. Overall, imports, however, recorded resilient growth. The growth pace was the most rapid in 2019 with an increase of 74% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, mattress imports rose to $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 59%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units), Malaysia (X units), Vietnam (X units), the Philippines (X units) and Singapore (X units) was the main importer of mattresses in ASEAN, committing 87% of total import. It was distantly followed by Myanmar (X units), constituting a 6.4% share of total imports. Brunei Darussalam (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +49.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mattress importing markets in ASEAN were Singapore ($X), Vietnam ($X) and Malaysia ($X), together accounting for 64% of total imports. Thailand, the Philippines, Myanmar and Brunei Darussalam lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, Myanmar, with a CAGR of +30.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, rising by 6.5% against the previous year. In general, the import price, however, recorded a mild slump. The growth pace was the most rapid in 2016 when the import price increased by 7.9%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while Brunei Darussalam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform