Market Outlook Mattress, Trends in Mattress Industry - Ken Research
by Ashish Kumar Market ResearcherThe
report titled “Vietnam
Mattress Market by Type (spring, Latex, Hybrid, Foam), Size (King, Queen,
Single Size), by End Users (Residential and Non Residential) and Region -
Outlook to 2021” provides a
comprehensive analysis of mattress market in Vietnam. The report covers market
size, segmentation on the basis of size, type, local and international players,
urban and rural demand, region, distribution channels and sectors. The report
also covers market in different aspects such as trade scenario – value chain
analysis, competitive landscape and company profiles for major players in
Vietnam mattress market. The report provides detailed overview on future
outlook & projections with analyst recommendations for the industry.
The
report facilitates the reader with an identification and in-depth analysis of
the existing and future trends, issues and challenges prevalent in the industry
and anticipated growth in the future depending upon changing industry dynamics
in coming years. The report is useful for mattress manufacturers, mattress raw
material manufacturers, retailers, franchisees, home furnishing companies and
other stakeholders to align their market centric strategies according to
ongoing and expected trends in the future.
Market Potential
Vietnam
market has displayed a significant growth at a CAGR of ~% during the review
period of 2011-2016. Growing demand from residential and commercial sectors in
the country has amplified the size of the mattress industry in the country. The
hotel industry in the country has grown with more number of hotels and rooms
supply in the country. The hospital beds have increased from ~ thousands in
2011 to ~ thousands in 2016. This has directly increased the demand for the
quality mattresses in the country. Vietnam mattresses market has grown from USD
~ million in 2011 to USD ~ million in 2016. The production volume of the
mattresses has also increased from ~ thousand in 2011 to ~ thousand in 2016.
Also, growing brand endorsement and marketing initiatives by the companies in
the country has increased the customer base of the companies. The average price
of a mattress is around USD ~ in Vietnam.
Market Segmentation of Vietnam
Mattress Market
By Size of Mattress (King, Queen and
Single)
King
size mattresses are the most preferred mattresses in Vietnam and contributed ~%
of sales volume to the mattress market in 2016. In Vietnam, houses don’t have
any space constraints because of which people in the country prefer king size
bed ad mattresses. Queen size beds have contributed a share of ~% in terms of
sales volume in 2016. Growing number of nuclear families in the country have
triggered the demand for the queen size mattresses in the country. In 2016, the
single size mattresses have added the share of ~% in the overall mattress
market in terms of sales volume. The end users for single size mattresses
majorly represent non-residential customers such as hotels, hospitals, private
clinics, college hostels and others. Other mattresses include children
mattresses, toddler mattresses, double mattresses, supreme king mattresses and
customized mattresses.
By Type of Mattress (Latex, spring and
others)
Latex
mattress has dominated the market in terms of revenues with the share of ~% in
the 2016. There is a considerable demand for Latex mattresses because of its
excellent air circulation which is provided by the open-cell natural structure
of latex and by pinhole patterns purposefully created during manufacturing.
Spring mattresses have added a share of ~% in 2016 in the revenues of the
country. Households, hotels, hospitals and others mostly prefer to buy them.
Other mattresses include foam mattresses, coir mattresses, airbed, waterbed and
other therapeutic mattresses.
By Local and International Players
In
2016, local players have dominated the market in terms of revenues of mattress
industry with ~% share in Vietnam owing to the ethnocentric customers present
in the country. International players have contributed percentage of ~% in the
terms of revenues of the Vietnam mattress industry. Few number of international
players of mattress leads to less revenue generation compared to local players.
By Urban and Rural Demand
The
urban demand for mattress in the country has contributed ~% share to the
revenues of Vietnam mattress market in 2016 owing to the rising population in
urban areas. The growing urban population and the gradual shift of the people
from rural areas to urban areas have triggered the demand for mattresses in the
country. The rural demand for mattress in the country have contributed share of
~% in the revenues of overall mattress market in 2016. Most of the rural
population in the country prefers local mattresses from unorganized market or
they have their own home made mattress.
By Region (Ho Chi Minh, Hanoi, Da Nang
and Hai Phong)
Ho
Chi Minh City is the economic center of Vietnam and accounts for a large
proportion of the economic growth of Vietnam. HCM dominated the Vietnam
mattress market in 2016 by contributing ~% of revenue share. Organized players
such as KYMDAN, Hava’s and others are known for their well structured layer of
intermediaries such as wholesalers, retailers, online retailers and other
distributors in their distribution channel. In 2016, Hanoi held a revenue share
of ~% in the overall mattress market. Major mattress players including KYMDAN
and Everpia JSC have their presence in the city which further has surged the
demand from Hanoi. Da Nang being the largest city in Central Vietnam with a
population of ~ added third highest revenue share accounting to ~% revenue
share in the mattress market in Vietnam in 2016. Hai Phong is a major North
Eastern city in Vietnam and accounted for ~% revenue share in the mattress
market of Vietnam. Other areas include Hue, Can Tho, Bien Hoa, Nha Trang, Buon
Ma Thuot and others.
By Distribution Channel (Retail,
Direct and Online)
Retail
distribution channel has dominated the mattress market in Vietnam with a
revenue share of ~% in 2016. Retail distribution represents the sale of
mattresses through exclusive brand outlets and multi-brand retail outlets to
the residential and non-residential customers. Direct distribution channel
represents the sale of mattresses directly by the manufacturer to the end user.
It accounted for a revenue share of ~% in the overall mattress market. Online
distribution channel accounted for a revenue share of ~% in 2016 as the
population prefers to buy mattress through retail or direct channel.
By Sectors (Residential, Hotels,
Hospitals and Others)
Residential
sector has contributed highest revenue share in the Vietnam mattress market in
2016 accounting to ~% owing to the rising residential sector and population of
the country. The rate at which the residential sector customers change the
mattress is higher as the purchases are frequent compared to the hospitality
sectors. Hotel industry has contributed a share of ~% in the revenues of the
mattress industry of Vietnam in 2016. Hospitals contributed ~% revenue share to
the mattress market in the country in 2016. Other customers include retail,
corporate and others.
Competitive Landscape
Vietnam
mattress market is concentrated with few domestic players having the major
market share including KYMDAN, Hava’s Mattress, Lien A Mattress and Far East
Foam Vietnam owing to the ethnocentric customer base in the country.
International players include Dunlopillo, Therapedic and Kingsdown. KYMDAN is
the leading player in Vietnam mattress market operating since 1954 and had
contributed highest revenue market share in 2016 with established brand name.
Players compete with each other on the basis of price, quality, brand name,
warranty, delivery and others. The mattress companies in Vietnam have various
distribution channels including stores, agents and dealers to increase the
penetration in the market.
Future Potential of Vietnam Mattress
Market
Vietnam
mattress market is expected to grow at a five year CAGR of ~% during the period
2016-2021. The market is expected to increase from USD ~ million in 2016 to USD
~ million in 2021. The growth is anticipated to be due to the increase in the
awareness in population about the requirement and use of type of mattress,
surging urbanization rate, rising income, increase in the number of companies
offering the products and gamut of mattress varieties.
Key Topics Covered in the Report:
Vietnam
Mattress Market Overview and Genesis
Value
Chain Analysis in Vietnam Mattress Market
Vietnam
Mattress Market Size
Vietnam
Mattress Market Segmentation
Trade
Scenario for Vietnam Mattress Market
Trends
and Developments in Vietnam Mattress Market
Issues
and Challenges in Vietnam Mattress Market
Vietnam
Mattress Market Overview
Therapeutic
Mattress Market Vietnam
Luxury
Mattress Vietnam Sales
Mattress
Imports in Vietnam
Mattress
Sales Hotel Vietnam
King
Size Mattress Market Size
Vietnam
Mattress Trends
Vietnam
Mattress Industry
Trends
in Mattress Industry
Sales
Forecast Mattress Vietnam
Revenue
Growth Mattress Vietnam
Value
Chain Analysis Mattress Vietnam
Vietnam
Mattress Market Future Outlook
Porter’s
Five Force Analysis of Vietnam Mattress Market
Decision
Making Process in Vietnam Mattress Market
Competitive
Landscape of Major Players in Vietnam Mattress Market
Product
Portfolio of Major Players in the Vietnam Mattress Market
Vietnam
Mattress Market Future Outlook and Projections
Macroeconomic
Factors affecting Vietnam Mattress Market
For more information on the research
report, refer to below link:
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