China: Market for Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) 2024

Market Size for Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) in China

In 2022, the Chinese bedding and furnishing article market increased by 805% to $X for the first time since 2016, thus ending a five-year declining trend. Over the period under review, consumption, however, recorded a slight shrinkage. Bedding and furnishing article consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) in China

In value terms, bedding and furnishing article production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 26% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

Exports from China

In 2022, shipments abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -36.9% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 64%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted rapidly in the following year.

In value terms, bedding and furnishing article exports contracted remarkably to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

The United States (X tons) was the main destination for bedding and furnishing article exports from China, with a 38% share of total exports. Moreover, bedding and furnishing article exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. Australia (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.9% per year) and Australia (+2.4% per year).

In value terms, the United States ($X) remains the key foreign market for bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) exports from China, comprising 33% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports. It was followed by Australia, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.2% per year) and Australia (+3.1% per year).

Export Prices by Country

In 2022, the average bedding and furnishing article export price amounted to $X per ton, surging by 19% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 39%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

Imports into China

In 2022, approx. X tons of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) were imported into China; remaining stable against the previous year. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, bedding and furnishing article imports fell to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 38% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest bedding and furnishing article supplier to China, with a 62% share of total imports. Moreover, bedding and furnishing article imports from Thailand exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +69.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+84.3% per year) and Italy (+5.1% per year).

In value terms, the largest bedding and furnishing article suppliers to China were Thailand ($X), Germany ($X) and Italy ($X), with a combined 56% share of total imports. The United States, Denmark, Sri Lanka, India, Japan, Vietnam, Australia, South Korea, Poland and Estonia lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Sri Lanka, with a CAGR of +77.9%, 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 average bedding and furnishing article import price stood at $X per ton in 2022, falling by -7.8% against the previous year. In general, the import price saw a abrupt decrease. The growth pace was the most rapid in 2017 an increase of 64% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform