Vietnam Mattress Market Outlook to 2021: Ken Research


The 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

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Ankur Gupta, Head Marketing & Communications



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