Asia: Sleeping Bag Market 2024

Sleeping Bag Market Size in Asia

After three years of growth, the Asian sleeping bag market decreased by -18.2% to $X in 2021. In general, consumption saw a mild setback. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped significantly in the following year.

Sleeping Bag Production in Asia

In value terms, sleeping bag production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 with an increase of 12%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

Sleeping Bag Exports

Exports in Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of sleeping bags, when their volume increased by 30% to X units. Total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 32% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, sleeping bag exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. 82% of total exports in 2021. Bangladesh (X units) ranks second in terms of the total exports with an 8.3% share, followed by India (4.7%). Vietnam (X units) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, Vietnam (+43.0%), Bangladesh (+20.3%) and India (+12.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +43.0% from 2012-2021. While the share of Bangladesh (+6.2 p.p.), Vietnam (+2.5 p.p.) and India (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-10.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest sleeping bag supplier in Asia, comprising 78% of total exports. The second position in the ranking was taken by Bangladesh ($X), with an 8.9% share of total exports. It was followed by Vietnam, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +4.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+20.0% per year) and Vietnam (+42.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, with an increase of 11% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2016 when the export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the other leaders experienced a decline in the export price figures.

Sleeping Bag Imports

Imports in Asia

In 2021, purchases abroad of sleeping bags increased by 32% to X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sleeping bag imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 31%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Japan (X units) and India (X units) were the major importers of sleeping bags in 2021, reaching approx. 33% and 24% of total imports, respectively. It was distantly followed by South Korea (X units), committing a 14% share of total imports. The following importers - Taiwan (Chinese) (X units), Syrian Arab Republic (X units), Thailand (X units), the United Arab Emirates (X units), Hong Kong SAR (X units), Israel (X units), Kazakhstan (X units) and Turkey (X units) - together made up 21% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Syrian Arab Republic (with a CAGR of +49.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported sleeping bags in Asia, comprising 47% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 4.4% share.

In Japan, sleeping bag imports expanded at an average annual rate of +3.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+8.9% per year) and Taiwan (Chinese) (+10.5% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, with a decrease of -3.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 27% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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