Colombia: Mattress Market 2024

Mattress Market Size in Colombia

The Colombian mattress market expanded modestly to $X in 2022, rising by 4.2% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Mattress Production in Colombia

In value terms, mattress production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 42% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Mattress Exports

Exports from Colombia

In 2022, approx. X units of mattresses were exported from Colombia; waning by -63.7% against 2021. Overall, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 348% against the previous year. The exports peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, mattress exports dropped notably to $X in 2022. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 353%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

The United States (X units) was the main destination for mattress exports from Colombia, with a 63% share of total exports. Moreover, mattress exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), sixfold. Costa Rica (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+72.4% per year) and Costa Rica (+50.4% per year).

In value terms, the United States ($X) remains the key foreign market for mattresses exports from Colombia, comprising 81% of total exports. The second position in the ranking was held by Costa Rica ($X), with an 11% share of total exports. It was followed by Guatemala, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +77.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+54.7% per year) and Guatemala (+49.4% per year).

Export Prices by Country

In 2022, the average mattress export price amounted to $X per unit, rising by 68% against the previous year. Overall, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 109%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ecuador ($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 United States (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into Colombia

In 2022, imports of mattresses into Colombia rose rapidly to X units, with an increase of 14% on the year before. In general, imports, however, saw a mild descent. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mattress imports reduced to $X in 2022. Over the period under review, imports, however, saw a perceptible decline. The pace of growth was the most pronounced in 2020 when imports increased by 52%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest mattress supplier to Colombia, accounting for a 80% share of total imports. Moreover, mattress imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold. The third position in this ranking was taken by Ecuador (X units), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+46.7% per year) and Ecuador (-21.1% per year).

In value terms, the largest mattress suppliers to Colombia were Denmark ($X), China ($X) and Turkey ($X), together accounting for 63% of total imports.

Among the main suppliers, Turkey, with a CAGR of +50.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average mattress import price amounted to $X per unit, falling by -23.1% against the previous year. Overall, the import price continues to indicate a perceptible setback. The growth pace was the most rapid in 2013 an increase of 44%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average 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 Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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