Philippines: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in the Philippines

The Philippine market for mattresses other than of cellular rubber or plastics skyrocketed to $X in 2022, jumping by 22% against the previous year. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +50.5% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Mattresses other than of cellular rubber or plastics in the Philippines

In value terms, production of mattresses other than of cellular rubber or plastics reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 14% against the previous year. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Mattresses other than of cellular rubber or plastics

Exports from the Philippines

Exports of mattresses other than of cellular rubber or plastics from the Philippines dropped sharply to X units in 2022, with a decrease of -67.2% on 2021 figures. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 4,953% against the previous year. Over the period under review, the exports of hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of mattresses other than of cellular rubber or plastics declined dramatically to $X in 2022. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 27,923%. Over the period under review, the exports of reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for exports of mattresses other than of cellular rubber or plastics from the Philippines, with a 98% share of total exports. It was followed by the United States (X units), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +138.3%.

In value terms, the Netherlands ($X) remains the key foreign market for mattresses other than of cellular rubber or plastics exports from the Philippines, comprising 100% of total exports. The second position in the ranking was held by the United States ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +146.6%.

Export Prices by Country

The average export price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, growing by 76% against the previous year. In general, the export price saw significant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 868%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+12.2%).

Imports of Mattresses other than of cellular rubber or plastics

Imports into the Philippines

Imports of mattresses other than of cellular rubber or plastics into the Philippines soared to X units in 2022, jumping by 16% on 2021 figures. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 96%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, imports of mattresses other than of cellular rubber or plastics surged to $X in 2022. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 64%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest mattresses other than of cellular rubber or plastics supplier to the Philippines, accounting for a 73% share of total imports. Moreover, imports of mattresses other than of cellular rubber or plastics from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. Belgium (X units) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +35.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+75.0% per year) and Belgium (+128.6% per year).

In value terms, China ($X) constituted the largest supplier of mattresses other than of cellular rubber or plastics to the Philippines, comprising 55% of total imports. The second position in the ranking was held by Malaysia ($X), with a 9.1% share of total imports. It was followed by Belgium, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.8% per year) and Belgium (+129.7% per year).

Import Prices by Country

The average import price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, approximately mirroring the previous year. In general, the import price, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2014 an increase of 60% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+37.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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