Vietnam: 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 Vietnam

The Vietnamese bedding and furnishing article market dropped sharply to $X in 2021, waning by -93.8% against the previous year. In general, consumption recorded a dramatic contraction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

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

In value terms, bedding and furnishing article production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 6.6%. Bedding and furnishing article production peaked at $X in 2020, and then reduced modestly in the following year.

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

Exports from Vietnam

In 2021, shipments abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) increased by 99% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bedding and furnishing article exports soared to $X in 2021. In general, exports showed resilient growth. The growth pace was the most rapid in 2016 when exports increased by 64%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Japan (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of bedding and furnishing article exports from Vietnam, together accounting for 78% of total exports. These countries were followed by the Netherlands, Germany, China, Sweden and Spain, which together accounted for a further 9.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +34.3%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and South Korea ($X) constituted the largest markets for bedding and furnishing article exported from Vietnam worldwide, with a combined 79% share of total exports. These countries were followed by the Netherlands, Germany, China, Sweden and Spain, which together accounted for a further 9.4%.

Among the main countries of destination, the Netherlands, with a CAGR of +30.2%, saw the highest growth rate of 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

The average bedding and furnishing article export price stood at $X per ton in 2021, which is down by -38.5% against the previous year. Overall, the export price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of 10% against the previous year. The export price peaked at $X per ton in 2020, and then declined significantly in the following year.

Average prices varied noticeably for the major export markets. In 2021, the countries with the highest prices were the United States ($X per ton) and Japan ($X per ton), while the average price for exports to Spain ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.3%), while the prices for the other major destinations experienced a decline.

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

Imports into Vietnam

In 2021, approx. X tons of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) were imported into Vietnam; surging by 14% against the previous year's figure. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 405%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, bedding and furnishing article imports surged to $X in 2021. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2016 when imports increased by 371%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main bedding and furnishing article supplier to Vietnam, accounting for a 97% share of total imports. It was followed by Malaysia (X tons), with a 1.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.7% per year) and Thailand (-17.4% per year).

In value terms, China ($X) constituted the largest supplier of bedding and furnishing article to Vietnam, comprising 97% of total imports. The second position in the ranking was held by Malaysia ($X), with a 0.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.6% per year) and Thailand (-18.6% per year).

Import Prices by Country

In 2021, the average bedding and furnishing article import price amounted to $X per ton, rising by 4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 17%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform