Latin America and the Caribbean: Mattress Support Market 2024

Mattress Support Market Size in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American mattress support market, when its value increased by 5.8% to $X. In general, consumption, however, showed a pronounced decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Mattress Support Production in Latin America and the Caribbean

In value terms, mattress support production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.4%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Mattress Support Exports

Exports in Latin America and the Caribbean

Mattress support exports soared to X units in 2021, increasing by 36% against the previous year's figure. The total export volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, mattress support exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Guatemala (X units) represented the main exporter of mattress supports, creating 40% of total exports. Brazil (X units) took the second position in the ranking, followed by Mexico (X units), Trinidad and Tobago (X units), El Salvador (X units), Chile (X units) and the Dominican Republic (X units). All these countries together held near 56% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mattress support exports from Guatemala stood at +14.7%. At the same time, Brazil (+26.8%), Trinidad and Tobago (+11.1%), Chile (+10.3%) and the Dominican Republic (+6.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +26.8% from 2012-2021. El Salvador experienced a relatively flat trend pattern. By contrast, Mexico (-6.2%) illustrated a downward trend over the same period. While the share of Guatemala (+21 p.p.), Brazil (+14 p.p.), Trinidad and Tobago (+2.6 p.p.) and Chile (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of El Salvador (-4.3 p.p.) and Mexico (-24.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) remains the largest mattress support supplier in Latin America and the Caribbean, comprising 43% of total exports. The second position in the ranking was held by Mexico ($X), with a 16% share of total exports. It was followed by Brazil, with a 10% share.

In Guatemala, mattress support exports increased at an average annual rate of +16.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-7.9% per year) and Brazil (+17.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, increasing by 12% against the previous year. In general, the export price, however, recorded a slight setback. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+4.1%), while the other leaders experienced more modest paces of growth.

Mattress Support Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of mattress supports were imported in Latin America and the Caribbean; picking up by 17% against 2020. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +129.1% against 2013 indices. The growth pace was the most rapid in 2015 with an increase of 30%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, mattress support imports surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +117.5% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Jamaica (X units) and Chile (X units) represented roughly 39% of total imports in 2021. Uruguay (X units) ranks next in terms of the total imports with a 7.8% share, followed by El Salvador (6.9%), the Dominican Republic (5.6%), Nicaragua (4.9%) and Costa Rica (4.5%). The following importers - Suriname (X units), Mexico (X units), Belize (X units), Argentina (X units), Guatemala (X units) and Guyana (X units) - together made up 17% of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +60.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mattress support importing markets in Latin America and the Caribbean were Jamaica ($X), Chile ($X) and El Salvador ($X), with a combined 47% share of total imports.

Chile, with a CAGR of +52.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, surging by 14% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nicaragua ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+8.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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