Guatemala: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in Guatemala

The Guatemalan market for mattresses other than of cellular rubber or plastics skyrocketed to $X in 2022, with an increase of 28% against the previous year. Over the period under review, consumption enjoyed a slight increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Mattresses other than of cellular rubber or plastics in Guatemala

In value terms, production of mattresses other than of cellular rubber or plastics expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mattresses other than of cellular rubber or plastics

Exports from Guatemala

In 2022, the amount of mattresses other than of cellular rubber or plastics exported from Guatemala declined to X units, which is down by -10.4% on the year before. Over the period under review, exports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2016 with an increase of 68%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of mattresses other than of cellular rubber or plastics reduced to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Honduras (X units) was the main destination for exports of mattresses other than of cellular rubber or plastics from Guatemala, accounting for a 57% share of total exports. Moreover, exports of mattresses other than of cellular rubber or plastics to Honduras exceeded the volume sent to the second major destination, El Salvador (X units), threefold. Costa Rica (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras totaled +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+3.0% per year) and Costa Rica (+14.1% per year).

In value terms, Honduras ($X) remains the key foreign market for mattresses other than of cellular rubber or plastics exports from Guatemala, comprising 57% of total exports. The second position in the ranking was held by El Salvador ($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 +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+7.7% per year) and Costa Rica (+19.3% per year).

Export Prices by Country

In 2022, the average export price for mattresses other than of cellular rubber or plastics amounted to $X per unit, growing by 3.9% against the previous year. Over the period under review, export price indicated a noticeable expansion 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, export price for mattresses other than of cellular rubber or plastics decreased by -5.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 89%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Panama ($X per unit) and El Salvador ($X per unit), while the average price for exports to Nicaragua ($X per unit) and Costa Rica ($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 Panama (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mattresses other than of cellular rubber or plastics

Imports into Guatemala

In 2022, supplies from abroad of mattresses other than of cellular rubber or plastics increased by 4.2% to X units, rising for the second consecutive year after two years of decline. Overall, imports enjoyed a strong expansion. The growth pace was the most rapid in 2021 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of mattresses other than of cellular rubber or plastics rose remarkably to $X in 2022. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2021 with an increase of 58%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, El Salvador (X units) constituted the largest mattresses other than of cellular rubber or plastics supplier to Guatemala, with a 81% share of total imports. Moreover, imports of mattresses other than of cellular rubber or plastics from El Salvador exceeded the figures recorded by the second-largest supplier, Mexico (X units), more than tenfold. China (X units) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from El Salvador amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-2.1% per year) and China (+52.6% per year).

In value terms, El Salvador ($X) constituted the largest supplier of mattresses other than of cellular rubber or plastics to Guatemala, comprising 81% of total imports. The second position in the ranking was held by Mexico ($X), with a 6.8% share of total imports. It was followed by China, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from El Salvador amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-1.8% per year) and China (+53.1% per year).

Import Prices by Country

In 2022, the average import price for mattresses other than of cellular rubber or plastics amounted to $X per unit, surging by 3.8% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 41% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform