Serbia: Mattress Market 2024

Mattress Market Size in Serbia

In 2022, the Serbian mattress market increased by 886% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Mattress Production in Serbia

In value terms, mattress production fell remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 59%. Mattress production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports from Serbia

In 2022, shipments abroad of mattresses was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 288% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, mattress exports surged to $X in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 167%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units), Italy (X units) and Poland (X units) were the main destinations of mattress exports from Serbia, together comprising 76% of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +290.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Poland ($X) constituted the largest markets for mattress exported from Serbia worldwide, with a combined 74% share of total exports.

Among the main countries of destination, Poland, with a CAGR of +287.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mattress export price amounted to $X per unit, declining by -10.2% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mattress export price increased by +12.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 35% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to North Macedonia ($X per unit) and Bosnia and Herzegovina ($X per unit), while the average price for exports to Russia ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into Serbia

In 2022, overseas purchases of mattresses decreased by -2% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 59% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, mattress imports amounted to $X in 2022. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 52%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Turkey (X units) and Croatia (X units) were the main suppliers of mattress imports to Serbia, together accounting for 62% of total imports. Italy, Romania, Poland, Slovenia and Austria lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +156.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Croatia ($X) constituted the largest mattress suppliers to Serbia, together accounting for 62% of total imports. Italy, Romania, Poland, Slovenia and Austria lagged somewhat behind, together comprising a further 26%.

Romania, with a CAGR of +202.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average mattress import price amounted to $X per unit, with an increase of 4.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 19%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Romania ($X per unit) and China ($X per unit), while the price for Croatia ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform