Eastern Asia: Mattress Market 2024

Mattress Market Size in Eastern Asia

The East Asian mattress market shrank to $X in 2022, falling by -11.4% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Mattress Production in Eastern Asia

In value terms, mattress production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a slight increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 15%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Mattress Exports

Exports in Eastern Asia

In 2022, shipments abroad of mattresses increased by 23% to X units, rising for the second consecutive year after two years of decline. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +59.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, mattress exports contracted to $X in 2022. The total export value increased at an average annual rate of +2.4% 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 26%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of mattresses, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the mattresses exports, with a CAGR of +4.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest mattress supplier in Eastern Asia.

In China, mattress exports expanded at an average annual rate of +1.8% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, shrinking by -25.8% against the previous year. In general, the export price saw a perceptible contraction. The most prominent rate of growth was recorded in 2013 an increase of 19%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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 -2.7% per year.

Mattress Imports

Imports in Eastern Asia

In 2022, overseas purchases of mattresses decreased by -12.6% to X units, falling for the third year in a row after four years of growth. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 37% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, mattress imports reduced to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +70.2% against 2013 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Japan (X units) was the major importer of mattresses, achieving 47% of total imports. South Korea (X units) ranks second in terms of the total imports with a 20% share, followed by Hong Kong SAR (13%), Taiwan (Chinese) (10%) and China (9.8%).

Imports into Japan increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, China (+12.3%), Taiwan (Chinese) (+6.8%) and South Korea (+5.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +12.3% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. China (+5.1 p.p.) and Taiwan (Chinese) (+2 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -7.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported mattresses in Eastern Asia, comprising 53% of total imports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total imports. It was followed by Hong Kong SAR, with a 10% share.

In Japan, mattress imports increased at an average annual rate of +4.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+6.1% per year) and Hong Kong SAR (+2.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, picking up by 5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 14%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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