Philippines: Mattress Support Market 2024

Mattress Support Market Size in the Philippines

The Philippine mattress support market contracted dramatically to $X in 2021, dropping by -18.6% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Mattress Support Production in the Philippines

In value terms, mattress support production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Mattress Support Exports

Exports from the Philippines

Mattress support exports from the Philippines skyrocketed to X units in 2021, jumping by 6,252% against 2020. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mattress support exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for mattress support exports from the Philippines, accounting for a 100% share of total exports. It was followed by Marshall Islands (X units), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +98.8%.

In value terms, the United States ($X) emerged as the key foreign market for mattress supports exports from the Philippines, comprising 100% of total exports. The second position in the ranking was taken by Marshall Islands ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +90.6%.

Export Prices by Country

In 2021, the average mattress support export price amounted to $X per unit, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2013 when the average export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Marshall Islands ($X per unit), while the average price for exports to the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Marshall Islands (+5.0%), while the prices for the other major destinations experienced a decline.

Mattress Support Imports

Imports into the Philippines

In 2021, approx. X units of mattress supports were imported into the Philippines; surging by 111% compared with the year before. In general, imports posted moderate growth. The pace of growth appeared the most rapid in 2016 with an increase of 553% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, mattress support imports skyrocketed to $X in 2021. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 365% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of mattress support to the Philippines, accounting for a 88% share of total imports. Moreover, mattress support imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+94.2% per year) and Germany (+18.4% per year).

In value terms, China ($X) constituted the largest supplier of mattress supports to the Philippines, comprising 88% of total imports. The second position in the ranking was taken by Denmark ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+75.4% per year) and Germany (+7.4% per year).

Import Prices by Country

The average mattress support import price stood at $X per unit in 2021, growing by 8.9% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mattress support import price increased by +14.7% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 103% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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