ECOWAS: Mattress Market 2024

Mattress Market Size in ECOWAS

The ECOWAS mattress market dropped modestly to $X in 2022, waning by -4.2% against the previous year. Over the period under review, consumption, however, showed prominent growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Mattress Production in ECOWAS

In value terms, mattress production declined slightly to $X in 2022 estimated in export price. In general, production, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports in ECOWAS

In 2022, the amount of mattresses exported in ECOWAS fell slightly to X units, shrinking by -1.7% compared with 2021 figures. Overall, exports, however, recorded a perceptible expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 66%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, mattress exports declined modestly to $X in 2022. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 155% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal represented the major exporter of mattresses in ECOWAS, with the volume of exports reaching X units, which was approx. 49% of total exports in 2022. Mali (X units) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Togo (14%). Nigeria (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +53.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest mattress supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was taken by Mali ($X), with a 26% share of total exports. It was followed by Togo, with a 14% share.

In Senegal, mattress exports increased at an average annual rate of +55.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (+3.5% per year) and Togo (+14.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, approximately reflecting the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mattress export price increased by +132.3% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 54% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Senegal ($X per unit) and Nigeria ($X per unit), while Mali ($X per unit) and Togo ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+1.5%), while the other leaders experienced more modest paces of growth.

Mattress Imports

Imports in ECOWAS

In 2022, approx. X units of mattresses were imported in ECOWAS; growing by 4.3% compared with the year before. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 67%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, mattress imports totaled $X in 2022. In general, imports showed a resilient increase. The growth pace was the most rapid in 2019 when imports increased by 53%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Guinea (X units), distantly followed by Ghana (X units), Togo (X units), Burkina Faso (X units), Guinea-Bissau (X units), Cabo Verde (X units), Cote d'Ivoire (X units) and Mali (X units) represented the key importers of mattresses, together mixing up 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mattress importing markets in ECOWAS were Guinea ($X), Togo ($X) and Guinea-Bissau ($X), together comprising 50% of total imports.

In terms of the main importing countries, Togo, with a CAGR of +35.5%, recorded 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 import price in ECOWAS stood at $X per unit in 2022, falling by -2.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 28%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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 Togo ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform