China: Mattress Market 2024

Mattress Market Size in China

The Chinese mattress market fell remarkably to $X in 2022, which is down by -26.4% against the previous year. Over the period under review, consumption recorded a abrupt shrinkage. Mattress consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Mattress Production in China

In value terms, mattress production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Mattress production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Mattress Exports

Exports from China

In 2022, shipments abroad of mattresses increased by 24% to X units, rising for the second year in a row after two years of decline. In general, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +58.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, mattress exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 23%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for mattress exports from China, with a 49% share of total exports. Moreover, mattress exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.1% per year) and the UK (+3.4% per year).

In value terms, the largest markets for mattress exported from China were the United States ($X), Japan ($X) and Australia ($X), with a combined 47% share of total exports. South Korea, the UK, Germany, Vietnam, Malaysia, Canada and the Netherlands lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, Vietnam, with a CAGR of +27.2%, saw the highest growth rate of 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

The average mattress export price stood at $X per unit in 2022, reducing by -24.1% against the previous year. In general, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2013 an increase of 18% against the previous year. Over the period under review, the average export prices hit record highs 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to the United States ($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 the Netherlands (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into China

In 2022, overseas purchases of mattresses decreased by -25% to X units, falling for the third year in a row after eight years of growth. Over the period under review, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 64%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mattress imports reduced notably to $X in 2022. In general, imports, however, saw strong growth. The growth pace was the most rapid in 2017 when imports increased by 48% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of mattress to China, with a 56% share of total imports. Moreover, mattress imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sixfold. Nepal (X units) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand stood at +143.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+52.9% per year) and Nepal (+127.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of mattresses to China, comprising 51% of total imports. The second position in the ranking was held by Vietnam ($X), with a 6.9% share of total imports. It was followed by Italy, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand totaled +130.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.0% per year) and Italy (+3.7% per year).

Import Prices by Country

In 2022, the average mattress import price amounted to $X per unit, rising by 8.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 38% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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