Eastern Asia: 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 Eastern Asia

The East Asian bedding and furnishing article market was finally on the rise to reach $X in 2022, after five years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level 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 Eastern Asia

In value terms, bedding and furnishing article production surged to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 39% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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

Exports in Eastern Asia

After five years of growth, overseas shipments of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -36.7% to X tons in 2022. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 64%. The volume of export peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, bedding and furnishing article exports dropped sharply to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

In 2022, China (X tons) represented the main exporter of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) in Eastern Asia, committing 99% of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows). The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest bedding and furnishing article supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China amounted to +1.1%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 19% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by 39%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.5% per year.

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

Imports in Eastern Asia

In 2022, imports of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) in Eastern Asia dropped remarkably to X tons, declining by -33% against 2021. In general, imports continue to indicate a mild decrease. The pace of growth was the most pronounced in 2016 with an increase of 13%. The volume of import peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, bedding and furnishing article imports shrank dramatically to $X in 2022. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Japan represented the largest importing country with an import of about X tons, which amounted to 58% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 22% share, followed by Taiwan (Chinese) (9.2%) and Hong Kong SAR (5.3%). China (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bedding and furnishing article imports into Japan stood at -4.4%. At the same time, China (+14.3%), Taiwan (Chinese) (+7.3%), South Korea (+5.5%) and Hong Kong SAR (+1.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +14.3% from 2012-2022. From 2012 to 2022, the share of South Korea, Taiwan (Chinese) and China increased by +11, +5.3 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) in Eastern Asia, comprising 57% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by Hong Kong SAR, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to -4.9%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.9% per year) and Hong Kong SAR (+5.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by 5.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 8.8% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform