Asia: Mattress Market 2024

Mattress Market Size in Asia

The Asian mattress market contracted to $X in 2022, shrinking by -7.5% against the previous year. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -16.5% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Mattress Production in Asia

In value terms, mattress production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable increase. The growth pace was the most rapid in 2017 when the production volume increased by 29%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports in Asia

Mattress exports soared to X units in 2022, increasing by 22% against 2021. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.1% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, mattress exports rose slightly to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.8% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 20%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. 82% of total exports in 2022. India (X units), Indonesia (X units), Vietnam (X units), Thailand (X units) and Turkey (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to mattress exports from China stood at +4.6%. At the same time, Vietnam (+42.9%), Indonesia (+37.2%), Thailand (+15.0%) and Turkey (+14.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +42.9% from 2012-2022. By contrast, India (-3.0%) illustrated a downward trend over the same period. While the share of Indonesia (+3.1 p.p.) and Vietnam (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-4.5 p.p.) and India (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Indonesia ($X) and Turkey ($X) were the countries with the highest levels of exports in 2022, with a combined 72% share of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +42.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, with a decrease of -15.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 an increase of 21%. The level of export peaked at $X per unit in 2017; however, from 2018 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 ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the other leaders experienced more modest paces of growth.

Mattress Imports

Imports in Asia

In 2022, approx. X units of mattresses were imported in Asia; shrinking by -31.2% against 2021 figures. Overall, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 89%. As a result, imports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, mattress imports declined to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.2% against 2013 indices. The growth pace was the most rapid in 2019 with an increase of 17%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Qatar (X units) and Japan (X units) represented roughly 34% of total imports in 2022. Thailand (X units) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by India (7.1%), South Korea (5.9%), Malaysia (5.6%) and Vietnam (4.9%). The Philippines (X units), Hong Kong SAR (X units), Singapore (X units), Taiwan (Chinese) (X units), China (X units) and the United Arab Emirates (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +29.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported mattresses in Asia, comprising 31% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Singapore, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan stood at +4.9%. In the other countries, the average annual rates were as follows: South Korea (+6.1% per year) and Singapore (+3.5% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, surging by 39% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Qatar ($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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :