According to SPER Market Research, During the time under consideration, the Vietnam market showed tremendous expansion. The country’s mattress market has grown in size as a result of rising demand from the residential and commercial sectors. The country’s hotel business has expanded as a result of the increased availability of hotels and rooms. The number of hospital beds has grown. This has directly raised the nation’s need for high-quality mattresses. Vietnamese mattress sales have increased. Also, there are now more mattresses being produced. The consumer base of the businesses has also grown as a result of expanding brand endorsement and marketing campaigns by local businesses. The market for mattresses in Vietnam is anticipated to expand at a five-year CAGR over the projected period. The population’s increased awareness of the need for and use of different mattress types, the rapid urbanization rate, rising incomes, and the expansion of the number of businesses providing the products and range of mattress options are all thought to be contributing factors to the growth.
Vietnam Mattress Market Overview:
- Forecast CAGR (2022-2032): 6.04%
- Forecast Market Size (2032): XX billion
Young consumers who are more concerned with their health and are willing to pay more than normal for cutting-edge products that would provide them better satisfaction are mostly to blame for the surge in demand for mattresses. These consumers are more concerned about their health condition. The two main drivers of the mattress market’s expansion are the rising disposable income and the rising number of health-conscious consumers. Due to factors like the rising incidence of spinal and other health conditions, the demand for a better lifestyle, rising per capita income, the growing urban population driving up housing demand, and a thriving hospitality industry, the Vietnamese mattress market is expected to grow over the next few years. The adoption of newer, higher-quality mattresses is predicted to increase in the near future due to manufacturers’ increasing innovation in the mattress sector.
Several global markets were greatly impacted by the Covid-19 epidemic. The effects of the extraordinary pandemic were likewise not unknown to the mattress industry. Mattress sales were affected by a shutdown on stores during the first wave of the Covid-19 outbreak. Also, due to workplace and transportation constraints, the production of new mattresses decreased. However, the market recovered because more people started making house modifications and repairs while working from home. As buying mattresses from online retailers is simple, the availability of mattresses throughout the pandemic period contributed to an increase in sales. The restoration of manufacture and sales, both offline and online, following the epidemic, on the other hand, bodes well for Market’s future expansion. Sales of mattresses will rise in the post-pandemic world as people become more health-conscious and prioritize getting a good night’s sleep. People will also purchase innovatively built mattresses with many advantages and durability rather than conventional mattresses, which have limited benefits.
Vietnam Mattress Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; BVD Wonders, Dunlopillo, Everpia JSC, Far East Foam, Hava’s Mattress Vietnam, Kim Cuong Mattress, KYMDAN, Lien A Mattress, Lotus Mattress, Van Than Mousse & Foam Company.
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Vietnam Mattress Market Segmentation:
By Mattress Type: Based on the Mattress Type, Vietnam Mattress Market is segmented as; Airbed Mattress, Coir Mattress, Latex Mattress, PU Foam Mattress, Spring Mattress, Therapeutic Mattress, Waterbed Mattress, Others.
By Mattress Size: Based on the Mattress Size, Vietnam Mattress Market is segmented as; Children Mattress, Double Mattress, King Size, Queen Size, Single Bed, Supreme King Mattress, Toddler Mattress, Customized Mattress.
By End User: Based on the End User, Vietnam Mattress Market is segmented as; Hospital, Hotels, Residential.
By Distribution Channel: Based on the Distribution Channel, Vietnam Mattress Market is segmented as; Online Distribution Channels, Specialty Stores, Supermarket/Hypermarket, Other.
By Region: The majority of Vietnam’s economic growth is attributed to Ho Chi Minh City, which serves as the country’s economic hub. The Vietnam mattress market was dominated by HCM. The distribution channel of well-organized firms like KYMDAN, Hava’s, and others is noted for its layer of middlemen, including wholesalers, retailers, internet merchants, and other distributors. The whole mattress market saw a significant revenue share maintained by Hanoi. Due to the existence of major mattress manufacturers like KYMDAN and Everpia JSC in the city, demand from Hanoi has increased. The largest city in Central Vietnam, Da Nang, contributed the third-highest revenue share to the Vietnamese mattress market. A considerable portion of the Vietnamese mattress market’s revenue was generated in Hai Phong, a key city in the country’s North Eastern region. Hue, Can Tho, Bien Hoa, Nha Trang, Buon Ma Thuot, and more places are included.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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