Hungary: 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 Hungary

The Hungarian bedding and furnishing article market expanded notably to $X in 2022, increasing by 8.1% against the previous year. Over the period under review, consumption saw a significant increase. Bedding and furnishing article consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) in Hungary

In value terms, bedding and furnishing article production contracted remarkably to $X in 2022 estimated in export price. In general, production showed a deep downturn. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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

Exports from Hungary

In 2022, after two years of growth, there was significant decline in overseas shipments of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows), when their volume decreased by -17% to X tons. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, bedding and furnishing article exports dropped notably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 39%. As a result, the exports attained the peak of $X, and then fell sharply in the following year.

Exports by Country

Germany (X tons), Italy (X tons) and Spain (X tons) were the main destinations of bedding and furnishing article exports from Hungary, together accounting for 47% of total exports. Slovakia, the Netherlands, Romania, France, Sweden, Croatia, Poland, Austria, the Czech Republic and South Korea lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +23.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) exports from Hungary, comprising 27% of total exports. The second position in the ranking was held by Italy ($X), with a 12% share of total exports. It was followed by Slovakia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+10.4% per year) and Slovakia (+15.7% per year).

Export Prices by Country

In 2022, the average bedding and furnishing article export price amounted to $X per ton, reducing by -16.8% against the previous year. Over the period under review, the export price recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 16% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Netherlands ($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 Italy (+2.8%), 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 Hungary

In 2022, supplies from abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -15.2% to X tons for the first time since 2011, thus ending a ten-year rising trend. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 27%. As a result, imports attained the peak of X tons, and then plummeted in the following year.

In value terms, bedding and furnishing article imports contracted remarkably to $X in 2022. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 33%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of bedding and furnishing article to Hungary, accounting for a 45% share of total imports. Moreover, bedding and furnishing article imports from Poland exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+35.9% per year) and Germany (+7.0% per year).

In value terms, Poland ($X) constituted the largest supplier of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) to Hungary, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.1% per year) and Germany (+7.7% per year).

Import Prices by Country

In 2022, the average bedding and furnishing article import price amounted to $X per ton, with a decrease of -1.5% against the previous year. In general, the import price continues to indicate a mild descent. The pace of growth was the most pronounced in 2021 an increase of 4.9% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform