Bedding and Furnishing Article Market

The article discusses the increasing demand for bedding and furnishing articles worldwide, with the market projected to grow at a CAGR of +2.5% in volume and +5.0% in value from 2022 to 2030. China dominates both production and consumption of these items, while the United States leads in imports. The average prices and trends in production, exports, and imports are also analyzed over the past decade.

Market Forecast

Driven by increasing demand for bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 4.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $34.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

In 2022, consumption of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -1.9% to 3.5M tons, falling for the third consecutive year after eight years of growth. The total consumption volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 8.5%. As a result, consumption attained the peak volume of 3.8M tons. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global bedding and furnishing article market size dropped slightly to $23.2B in 2022, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 8.7%. As a result, consumption attained the peak level of $25.4B. From 2020 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

China (1.4M tons) remains the largest bedding and furnishing article consuming country worldwide, comprising approx. 41% of total volume. Moreover, bedding and furnishing article consumption in China exceeded the figures recorded by the second-largest consumer, India (429K tons), threefold. The third position in this ranking was held by the United States (376K tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +7.2%. In the other countries, the average annual rates were as follows: India (+3.8% per year) and the United States (-4.6% per year).

In value terms, China ($8.3B) led the market, alone. The second position in the ranking was taken by India ($2.7B). It was followed by the United States.

In China, the bedding and furnishing article market expanded at an average annual rate of +6.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+4.0% per year) and the United States (-6.1% per year).

The countries with the highest levels of bedding and furnishing article per capita consumption in 2022 were the UK (1,195 kg per 1000 persons), the United States (1,121 kg per 1000 persons) and Germany (1,049 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

In 2022, after two years of decline, there was growth in production of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows), when its volume increased by 3.1% to 3.7M tons. The total output volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Global production peaked at 4M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, bedding and furnishing article production reached $24.2B in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 11%. As a result, production reached the peak level of $26.6B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

China (2.3M tons) remains the largest bedding and furnishing article producing country worldwide, accounting for 64% of total volume. Moreover, bedding and furnishing article production in China exceeded the figures recorded by the second-largest producer, India (493K tons), fivefold. Pakistan (157K tons) ranked third in terms of total production with a 4.3% share.

In China, bedding and furnishing article production increased at an average annual rate of +4.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+4.3% per year) and Pakistan (-0.2% per year).

Imports

World Imports of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

After two years of growth, purchases abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -36.9% to 1.3M tons in 2022. Overall, total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 17%. As a result, imports reached the peak of 2.1M tons, and then dropped dramatically in the following year.

In value terms, bedding and furnishing article imports shrank dramatically to $9B in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports reached the peak of $12.9B, and then contracted rapidly in the following year.

Imports By Country

The United States was the major importer of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) in the world, with the volume of imports finishing at 375K tons, which was approx. 28% of total imports in 2022. Japan (91K tons) held the second position in the ranking, followed by Germany (88K tons) and the UK (60K tons). All these countries together held approx. 18% share of total imports. France (48K tons), Saudi Arabia (41K tons), the Netherlands (38K tons), South Korea (35K tons), Australia (32K tons), Canada (29K tons), the United Arab Emirates (28K tons), Poland (24K tons) and Spain (24K tons) held a little share of total imports.

Imports into the United States increased at an average annual rate of +2.4% from 2012 to 2022. At the same time, Poland (+8.2%), South Korea (+5.5%), the Netherlands (+4.7%), the United Arab Emirates (+3.4%), France (+2.6%), Germany (+2.4%), the UK (+1.7%) and Spain (+1.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +8.2% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Canada (-1.4%), Japan (-4.4%) and Saudi Arabia (-4.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +3.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.1B) constitutes the largest market for imported bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) worldwide, comprising 23% of global imports. The second position in the ranking was held by Japan ($714M), with an 8% share of global imports. It was followed by Germany, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest. In the other countries, the average annual rates were as follows: Japan (-4.9% per year) and Germany (+1.6% per year).

Import Prices By Country

In 2022, the average bedding and furnishing article import price amounted to $6,776 per ton, growing by 10% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $7,237 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($9,195 per ton), while Saudi Arabia ($3,752 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Bedding and Furnishing Articles (Quilts, Eiderdowns, Cushions, Pouffes And Pillows)

In 2022, shipments abroad of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows) decreased by -28.6% to 1.5M tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 41%. Over the period under review, the global exports hit record highs at 2.1M tons in 2021, and then declined significantly in the following year.

In value terms, bedding and furnishing article exports declined rapidly to $11B in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. As a result, the exports attained the peak of $13.9B, and then dropped significantly in the following year.

Exports By Country

China prevails in exports structure, amounting to 930K tons, which was approx. 63% of total exports in 2022. It was distantly followed by Poland (76K tons), achieving a 5.2% share of total exports. The following exporters - India (64K tons), the Netherlands (31K tons), Germany (28K tons), Vietnam (24K tons), Bulgaria (23K tons) and Turkey (22K tons) - together made up 13% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of bedding and furnishing articles (quilts, eiderdowns, cushions, pouffes and pillows). At the same time, the Netherlands (+15.4%), Turkey (+13.0%), Vietnam (+10.8%), Bulgaria (+8.7%), India (+8.4%) and Poland (+4.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +15.4% from 2012-2022. Germany experienced a relatively flat trend pattern. India (+2 p.p.) and the Netherlands (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -7.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($6.5B) remains the largest bedding and furnishing article supplier worldwide, comprising 59% of global exports. The second position in the ranking was taken by Poland ($494M), with a 4.5% share of global exports. It was followed by India, with a 3.9% share.

In China, bedding and furnishing article exports expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+4.7% per year) and India (+9.1% per year).

Export Prices By Country

The average bedding and furnishing article export price stood at $7,437 per ton in 2022, increasing by 11% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 21%. As a result, the export price reached the peak level of $8,212 per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($11,791 per ton), while Bulgaria ($5,767 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform