Bangladesh: Mattress Market 2024

Mattress Market Size in Bangladesh

The Bangladeshi mattress market fell to $X in 2022, waning by -5.4% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 -14.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Mattress Production in Bangladesh

In value terms, mattress production reduced to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.9% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 51%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Mattress Exports

Exports from Bangladesh

In 2022, exports of mattresses from Bangladesh contracted notably to X units, dropping by -38.3% on the previous year. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by 1,311% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, mattress exports declined rapidly to $X in 2022. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 562%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units) was the main destination for mattress exports from Bangladesh, accounting for a 34% share of total exports. Moreover, mattress exports to Norway exceeded the volume sent to the second major destination, Italy (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and the United States (0.0% per year).

In value terms, the largest markets for mattress exported from Bangladesh were Norway ($X), Italy ($X) and the United States ($X), together comprising 48% of total exports.

Norway, with a CAGR of +1.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mattress export price amounted to $X per unit, reducing by -6.7% against the previous year. Over the period under review, the export price, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 144% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+57.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into Bangladesh

Mattress imports into Bangladesh surged to X units in 2022, jumping by 31% on 2021 figures. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by 112% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, mattress imports expanded rapidly to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 181%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest mattress supplier to Bangladesh, with a 16% share of total imports. Moreover, mattress imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. India (X units) ranked third in terms of total imports with a 0.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+21.4% per year) and India (+59.7% per year).

In value terms, China ($X) constituted the largest supplier of mattresses to Bangladesh, comprising 24% of total imports. The second position in the ranking was taken by South Korea ($X), with a 5.9% share of total imports. It was followed by Singapore, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.6% per year) and Singapore (+15.8% per year).

Import Prices by Country

The average mattress import price stood at $X per unit in 2022, with a decrease of -18.2% against the previous year. In general, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of 32% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for India ($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 (+15.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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