Singapore: Market for Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) 2022

Market Size for Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) in Singapore

After two years of decline, the Singaporean bedding and furnishing article market increased by 53% to $X in 2021. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

Exports from Singapore

In 2021, after three years of decline, there was significant growth in overseas shipments of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows), when their volume increased by 54% to X tons. In general, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -24.9% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 108%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, bedding and furnishing article exports soared to $X in 2021. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -29.8% against 2017 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 125%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brunei Darussalam (X tons) was the main destination for bedding and furnishing article exports from Singapore, accounting for a 29% share of total exports. Moreover, bedding and furnishing article exports to Brunei Darussalam exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Brunei Darussalam stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+4.4% per year) and Indonesia (+0.5% per year).

In value terms, Brunei Darussalam ($X) remains the key foreign market for bedding and furnishing article exports from Singapore, comprising 29% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Brunei Darussalam stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+4.5% per year) and Indonesia (+0.6% per year).

Export Prices by Country

The average bedding and furnishing article export price stood at $X per ton in 2021, which is down by -8.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.6% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+0.1%), 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 Singapore

After two years of decline, purchases abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) increased by 46% to X tons in 2021. The total import volume increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, bedding and furnishing article imports surged to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest bedding and furnishing article supplier to Singapore, with a 71% share of total imports. Moreover, bedding and furnishing article imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.4% per year) and Vietnam (+40.7% per year).

In value terms, China ($X) constituted the largest supplier of bedding and furnishing article to Singapore, comprising 71% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 6.5% share of total imports. It was followed by Vietnam, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.3% per year) and Vietnam (+40.8% per year).

Import Prices by Country

The average bedding and furnishing article import price stood at $X per ton in 2021, growing by 9.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Germany ($X per ton) and Pakistan ($X per ton), while the price for Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform