Vietnam: Mattress Support Market 2024

Mattress Support Market Size in Vietnam

The Vietnamese mattress support market reduced markedly to $X in 2021, waning by -23.6% against the previous year. Overall, consumption saw a pronounced descent. Mattress support consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Mattress Support Production in Vietnam

In value terms, mattress support production fell remarkably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible downturn. The growth pace was the most rapid in 2020 when the production volume increased by 95%. Mattress support production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Mattress Support Exports

Exports from Vietnam

In 2021, after two years of growth, there was significant decline in shipments abroad of mattress supports, when their volume decreased by -10.2% to X units. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 814%. Over the period under review, the exports reached the maximum at X units in 2020, and then reduced in the following year.

In value terms, mattress support exports fell slightly to $X in 2021. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 673% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then reduced modestly in the following year.

Exports by Country

Canada (X units) was the main destination for mattress support exports from Vietnam, with a 81% share of total exports. Moreover, mattress support exports to Canada exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), ninefold. The third position in this ranking was held by New Zealand (X units), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at +85.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+94.1% per year) and New Zealand (-5.8% per year).

In value terms, Canada ($X) remains the key foreign market for mattress supports exports from Vietnam, comprising 77% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total exports. It was followed by New Zealand, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +68.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+71.6% per year) and New Zealand (-3.2% per year).

Export Prices by Country

The average mattress support export price stood at $X per unit in 2021, surging by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2013 an increase of 10%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Mattress Support Imports

Imports into Vietnam

Mattress support imports into Vietnam reached X units in 2021, approximately equating the previous year. Overall, imports saw a prominent expansion. The growth pace was the most rapid in 2019 when imports increased by 468% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, mattress support imports expanded sharply to $X in 2021. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 436%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of mattress support to Vietnam, with a 91% share of total imports. Moreover, mattress support imports from China exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X units), more than tenfold. The third position in this ranking was taken by Spain (X units), with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (0.0% per year) and Spain (-47.5% per year).

In value terms, China ($X) constituted the largest supplier of mattress supports to Vietnam, comprising 97% of total imports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 0.7% share of total imports. It was followed by Spain, with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (0.0% per year) and Spain (-45.7% per year).

Import Prices by Country

The average mattress support import price stood at $X per unit in 2021, rising by 11% against the previous year. Over the period under review, the import price, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2020 when the average import price increased by 16%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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