South-Eastern Asia: Mattress Market 2024

Mattress Market Size in South-Eastern Asia

The Southeast Asian mattress market shrank to $X in 2022, with a decrease of -11.9% against the previous year. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -24.8% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Mattress Production in South-Eastern Asia

In value terms, mattress production contracted to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Mattress Exports

Exports in South-Eastern Asia

In 2022, approx. X units of mattresses were exported in South-Eastern Asia; with an increase of 41% compared with 2021 figures. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 165%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, mattress exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 127% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Indonesia (X units), Vietnam (X units) and Thailand (X units) represented roughly 85% of total exports in 2022. It was distantly followed by Malaysia (X units), achieving a 9.2% share of total exports. The following exporters - Singapore (X units) and Myanmar (X units) - together made up 4.4% of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +80.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest mattress supplier in South-Eastern Asia, comprising 58% of total exports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total exports. It was followed by Thailand, with an 8.2% share.

In Indonesia, mattress exports increased at an average annual rate of +42.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+31.5% per year) and Thailand (+13.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, which is down by -9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the export price increased by 23% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Mattress Imports

Imports in South-Eastern Asia

In 2022, the amount of mattresses imported in South-Eastern Asia declined to X units, shrinking by -2.1% against the year before. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 74% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, mattress imports totaled $X in 2022. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2019 when imports increased by 58%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X units), Malaysia (X units), Vietnam (X units), the Philippines (X units) and Singapore (X units) represented roughly 87% of total imports in 2022. It was distantly followed by Myanmar (X units), generating a 6.3% share of total imports. Brunei Darussalam (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +49.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mattress importing markets in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Malaysia ($X), together accounting for 63% of total imports. Thailand, the Philippines, Myanmar and Brunei Darussalam lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, Myanmar, with a CAGR of +30.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, rising by 6.4% against the previous year. Over the period under review, the import price, however, saw a slight contraction. The growth pace was the most rapid in 2016 when the import price increased by 7.9% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Brunei Darussalam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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