Hong Kong SAR, China: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in Hong Kong SAR, China

In 2022, the Hong Kong market for mattresses other than of cellular rubber or plastics increased by 1.2% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

Exports of Mattresses other than of cellular rubber or plastics

Exports from Hong Kong SAR, China

In 2022, approx. X units of mattresses other than of cellular rubber or plastics were exported from Hong Kong SAR; with a decrease of -11.2% on the previous year. In general, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 139%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of mattresses other than of cellular rubber or plastics dropped markedly to $X in 2022. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X units), Canada (X units) and Malaysia (X units) were the main destinations of exports of mattresses other than of cellular rubber or plastics from Hong Kong SAR, with a combined 70% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +54.9%), while the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X) remains the key foreign market for mattresses other than of cellular rubber or plastics exports from Hong Kong SAR, comprising 50% of total exports. The second position in the ranking was held by China ($X), with a 24% share of total exports. It was followed by Canada, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.6% per year) and Canada (+54.8% per year).

Export Prices by Country

The average export price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, declining by -25.4% against the previous year. In general, the export price, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2013 an increase of 103%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mattresses other than of cellular rubber or plastics

Imports into Hong Kong SAR, China

Imports of mattresses other than of cellular rubber or plastics into Hong Kong SAR rose to X units in 2022, growing by 3.9% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, imports of mattresses other than of cellular rubber or plastics dropped modestly to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 33%. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest mattresses other than of cellular rubber or plastics supplier to Hong Kong SAR, accounting for a 86% share of total imports. It was followed by Thailand (X units), with a 2.9% share of total imports. Australia (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+0.7% per year) and Australia (+55.1% per year).

In value terms, China ($X) constituted the largest supplier of mattresses other than of cellular rubber or plastics to Hong Kong SAR, comprising 49% of total imports. The second position in the ranking was taken by Australia ($X), with a 15% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+37.8% per year) and Thailand (+2.9% per year).

Import Prices by Country

The average import price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, declining by -4.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2015 when the average import price increased by 25%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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