Guatemala: Mattress Market 2024

Mattress Market Size in Guatemala

The Guatemalan mattress market rose remarkably to $X in 2022, increasing by 9.3% against the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.2% against 2020 indices. Mattress consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Mattress Production in Guatemala

In value terms, mattress production rose significantly to $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value 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, production decreased by -8.0% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 56%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Mattress Exports

Exports from Guatemala

In 2022, approx. X units of mattresses were exported from Guatemala; with a decrease of -10.5% against the year before. In general, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +49.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, mattress exports fell to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Honduras (X units) was the main destination for mattress exports from Guatemala, with a 57% share of total exports. Moreover, mattress exports to Honduras exceeded the volume sent to the second major destination, El Salvador (X units), threefold. The third position in this ranking was held by Costa Rica (X units), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+2.9% per year) and Costa Rica (+14.1% per year).

In value terms, Honduras ($X) remains the key foreign market for mattresses exports from Guatemala, comprising 57% of total exports. The second position in the ranking was held by El Salvador ($X), with a 19% share of total exports. It was followed by Costa Rica, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Honduras totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+7.6% per year) and Costa Rica (+19.3% per year).

Export Prices by Country

The average mattress export price stood at $X per unit in 2022, increasing by 3.9% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.6% 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 decreased by -5.1% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 88%. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Panama ($X per unit) and Costa Rica ($X per unit), while the average price for exports to El Salvador ($X per unit) and Nicaragua ($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 Belgium (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into Guatemala

In 2022, supplies from abroad of mattresses increased by 3% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +9.0% 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 +40.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 37% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, mattress imports totaled $X in 2022. Over the period under review, imports saw buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 55%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, El Salvador (X units) constituted the largest supplier of mattress to Guatemala, accounting for a 74% share of total imports. Moreover, mattress imports from El Salvador exceeded the figures recorded by the second-largest supplier, Mexico (X units), sevenfold. The third position in this ranking was taken by China (X units), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from El Salvador amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+2.5% per year) and China (+16.3% per year).

In value terms, El Salvador ($X) constituted the largest supplier of mattresses to Guatemala, comprising 74% of total imports. The second position in the ranking was taken by Mexico ($X), with a 10% share of total imports. It was followed by China, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from El Salvador stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+3.0% per year) and China (+16.1% per year).

Import Prices by Country

The average mattress import price stood at $X per unit in 2022, with an increase of 3.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 36%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per unit) and Mexico ($X per unit), while the price for Costa Rica ($X per unit) and Honduras ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform