Vietnam Mattress Market is Expected to reach USD 291 million by 2021: Ken Research
Vietnam Mattress Market by size (King Size, Queen Size, Single Size and Others), type (Latex, spring and others), local and international players, urban and rural demand, region (Ho Chi Minh, Hanoi, Da Nang, Hai Phong and Others), distribution channels (Retail, Direct and online) and sectors (Residential, Hotels, Hospitals and Others), by Market Share of Major Companies (KYMDAN, Hava’s Mattress Vietnam, Lien A Mattress, Dunlopillo, Far East Foam, Van Than Mousse & Foam Company, Lotus Mattress, Kim Cuong Mattress, Everpia JSC, BVD Wonders)
- Rising number of online players to foster growth for Vietnam mattress market.
- Growing tourism in the country will surge the demand for hotels which will have a positive impact in the sales volume of mattress in the country in coming years.
Ken Research in its latest study, “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” suggests that KYMDAN, Lien A Mattress, Hava’s Mattress and Far East Foam Mattress will remain the major Mattress players in this space.
The residential units in Vietnam have been increasing over the past few years owing to the Housing law and law of Real Estate Business which has been effective from July 2015. It allows the foreigners to legally own, sell or transfer real estate properties. Increasing consumer spending, urbanization, rising awareness among the people regarding the relationship between sound sleep and good quality mattress are few other factors that will foster growth in the mattress market. Rising income levels of the individuals will raise their standard of living, which increases the consumer spending on home furnishings such as mattresses.
The mattress market has been evolving over the years and presently consists of both offline and online players. Online players consist of online retail shopping sites and apps offering various verticals and players exclusive to bedding and mattress. The leading online players selling mattresses in Vietnam are Alibaba, Tiki, Lazada and Vatgia. The mattress players started their online websites for enhancing the consumer base and revenue generation including companies such as Hava’s mattress, KYMDAN, Lien-A Mattress and others. The international players such as Dunlopillo have also joined the online platform.
Though, the major players have their websites but the purchasing and payment feature on the online platform is still not present in these sites such as KYMDAN. Online bookings have increased over the years with the rising number of smart phone users and internet penetration. Online channels have several benefits over purchasing from physical store including more convenience, discounts and offers, time and money saving and others.
Tourism industry is growing in Vietnam which has made a positive impact on the mattress industry in the country. Few trends that have led to increase in Vietnam tourism include rise in Chinese and Koreans travelers to the country, 15-day visa-free policy for France, Germany, UK, Spain, Italy and Belarus increased investment in air travel infrastructure and others. Tourist destinations in Vietnam including Saigo Notre Dame Cathedral, Temple of Literature, Hoan Kiem Lake, My Khe Beach, Khai Dinh Tomb, Imperial Citadel and others attract visitors leading a positive impact on the hospitality industry in the country. This has increased the demand for hotels in the country which has directly impacted the sales of mattresses in Vietnam.
“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”
Vietnam Mattress Market is projected to register a positive CAGR during the period 2016-2021. Increase in number of households, hotels and hospitals, changing consumer preferences and rise in demand for therapeutic mattress is expected to drive the Vietnam Mattress Market in the future.
The report provides information on market size of the Vietnam Mattress Market, market segmentation on the basis of size of mattress, type of mattress, local and international players, urban and rural demand, region, distribution channels and sectors.
For more information on the research report, refer to below link:-
https://www.kenresearch.com/consumer-products-and-retail/home-and-office-furnishings/vietnam-mattress-market/142269-95.html
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