Sri Lanka: Market for Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) 2024

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

The Sri Lankan bedding and furnishing article market soared to $X in 2022, picking up by 7,085% against the previous year. Over the period under review, consumption showed buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows) in Sri Lanka

In value terms, bedding and furnishing article production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 174%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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

Exports from Sri Lanka

In 2022, after two years of growth, there was significant decline in shipments abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows), when their volume decreased by -85.4% to X tons. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2020 when exports increased by 445% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced remarkably in the following year.

In value terms, bedding and furnishing article exports shrank notably to $X in 2022. In general, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 504% against the previous year. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for bedding and furnishing article exports from Sri Lanka, with a 44% share of total exports. Moreover, bedding and furnishing article exports to the United States exceeded the volume sent to the second major destination, India (X tons), fourfold. China (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+16.9% per year) and China (+102.1% per year).

In value terms, the United States ($X) emerged as the key foreign market for bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) exports from Sri Lanka, comprising 45% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.5% per year) and China (+102.5% per year).

Export Prices by Country

In 2022, the average bedding and furnishing article export price amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 92%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.9%), 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 Sri Lanka

In 2022, purchases abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -41.1% to X tons, falling for the fourth consecutive year after five years of growth. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 when imports increased by 56%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, bedding and furnishing article imports skyrocketed to $X in 2022. Overall, imports, however, saw a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 75%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest bedding and furnishing article supplier to Sri Lanka, accounting for a 57% share of total imports. Moreover, bedding and furnishing article imports from Germany exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 19% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+2.9% per year) and China (-19.6% per year).

In value terms, Germany ($X) constituted the largest supplier of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) to Sri Lanka, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with a 20% share of total imports. It was followed by China, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.3% per year) and China (-18.8% per year).

Import Prices by Country

The average bedding and furnishing article import price stood at $X per ton in 2022, increasing by 153% against the previous year. In general, the import price showed a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform