Costa Rica: Mattress Market 2024

Mattress Market Size in Costa Rica

The Costa Rican mattress market shrank to $X in 2022, which is down by -5.5% against the previous year. In general, consumption, however, saw a strong increase. Mattress consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Mattress Production in Costa Rica

In value terms, mattress production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 64% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports from Costa Rica

In 2022, overseas shipments of mattresses decreased by -24.7% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by 137%. The exports peaked at X units in 2021, and then shrank markedly in the following year.

In value terms, mattress exports declined rapidly to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 142% against the previous year. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Nicaragua (X units), Panama (X units) and Honduras (X units) were the main destinations of mattress exports from Costa Rica, together accounting for 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +37.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for mattress exported from Costa Rica were Nicaragua ($X), Panama ($X) and Honduras ($X), with a combined 98% share of total exports.

Nicaragua, with a CAGR of +37.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average mattress export price amounted to $X per unit, remaining constant against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 35%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Honduras ($X per unit) and Guatemala ($X per unit), while the average price for exports to Panama ($X per unit) and Nicaragua ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Mattress Imports

Imports into Costa Rica

In 2022, approx. X units of mattresses were imported into Costa Rica; with a decrease of -7.5% against the previous year. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2013 with an increase of 146%. Imports peaked at X units in 2021, and then fell in the following year.

In value terms, mattress imports dropped to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 42%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

El Salvador (X units), Honduras (X units) and Guatemala (X units) were the main suppliers of mattress imports to Costa Rica, with a combined 67% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Guatemala (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mattress suppliers to Costa Rica were Honduras ($X), El Salvador ($X) and Guatemala ($X), with a combined 66% share of total imports. China, Trinidad and Tobago and the United States lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Trinidad and Tobago, with a CAGR of +31.3%, saw the highest rates of growth with regard to 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 mattress import price stood at $X per unit in 2022, increasing by 1.7% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 34%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Trinidad and Tobago ($X per unit) and Honduras ($X per unit), while the price for El Salvador ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform