Hong Kong SAR, China: 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 Hong Kong SAR, China

The Hong Kong bedding and furnishing article market surged to $X in 2022, picking up by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.2% against 2019 indices. Bedding and furnishing article consumption peaked in 2022 and is expected to retain growth in years to come.

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

Exports from Hong Kong SAR, China

In 2022, approx. X tons of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) were exported from Hong Kong SAR; falling by -34.9% compared with the previous year. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 66% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, bedding and furnishing article exports fell sharply to $X in 2022. Overall, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 65%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main destinations of bedding and furnishing article exports from Hong Kong SAR, together comprising 68% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +15.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bedding and furnishing article exported from Hong Kong SAR were China ($X), Taiwan (Chinese) ($X) and the United States ($X), with a combined 69% share of total exports.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +25.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bedding and furnishing article export price stood at $X per ton in 2022, picking up by 18% against the previous year. Over the last decade, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 29% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Hong Kong SAR, China

In 2022, the amount of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) imported into Hong Kong SAR skyrocketed to X tons, growing by 18% against the previous year's figure. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bedding and furnishing article imports totaled $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +44.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main bedding and furnishing article supplier to Hong Kong SAR, accounting for a 92% share of total imports. It was followed by Vietnam (X tons), with a 1.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.2%.

In value terms, China ($X) constituted the largest supplier of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 1.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +5.3%.

Import Prices by Country

In 2022, the average bedding and furnishing article import price amounted to $X per ton, falling by -13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2021 an increase of 36%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%).

Source: IndexBox Platform