Myanmar: 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 Myanmar

The Myanmar's bedding and furnishing article market shrank modestly to $X in 2022, reducing by -2% 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). In general, consumption showed a perceptible reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Myanmar

For the third year in a row, Myanmar recorded growth in shipments abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows), which increased by 62% to X tons in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 954% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, bedding and furnishing article exports surged to $X in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 180%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for bedding and furnishing article exports from Myanmar, accounting for a 82% share of total exports. Moreover, bedding and furnishing article exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), fivefold. The third position in this ranking was taken by Thailand (X tons), with a 3% share.

From 2015 to 2022, the average annual growth rate of volume to the United States stood at +301.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and Thailand (-43.7% per year).

In value terms, the United States ($X) remains the key foreign market for bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) exports from Myanmar, comprising 80% of total exports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total exports. It was followed by Canada, with a 2.3% share.

From 2015 to 2022, the average annual growth rate of value to the United States amounted to +406.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+286.1% per year) and Canada (0.0% per year).

Export Prices by Country

The average bedding and furnishing article export price stood at $X per ton in 2022, growing by 28% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 2,480% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

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

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+585.5%), 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 Myanmar

In 2022, overseas purchases of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) increased by 2.9% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 240% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, bedding and furnishing article imports reached $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 240% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bedding and furnishing article to Myanmar, accounting for a 86% share of total imports. Moreover, bedding and furnishing article imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +36.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+15.4% per year) and Singapore (-31.3% per year).

In value terms, China ($X) constituted the largest supplier of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) to Myanmar, comprising 87% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-8.3% per year) and Singapore (-38.9% per year).

Import Prices by Country

The average bedding and furnishing article import price stood at $X per ton in 2022, growing by 4.1% against the previous year. Overall, the import price, however, showed a abrupt decline. The pace of growth was the most pronounced in 2020 when the average import price increased by 36%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 Singapore ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+41.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform