Showing posts with label Luxury Mattress Vietnam Sales. Show all posts
Showing posts with label Luxury Mattress Vietnam Sales. Show all posts

Monday, November 13, 2017

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.
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.
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.
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
Key Topics Covered in the Report:
Vietnam Mattress Market Overview
Value Chain Analysis in Vietnam Mattress Market
Vietnam Mattress Market Size
Vietnam Mattress Market Segmentation
Vietnam Mattress Imports
Trends in Vietnam Mattress Industry
Issues and Challenges in Vietnam Mattress Sector
Decision Making Process in Vietnam Mattress Market
Competitive Landscape of Players in Vietnam Mattress Market
Product Portfolio of Major Players in the Vietnam Mattress Market
Competition in Mattress Industry Vietnam
Vietnam Mattress Market Future Outlook
Forecast Spring Mattress Market in Vietnam
King Size Mattress Market Size
Queen Size Mattress Industry Revenue
Macroeconomic Factors affecting Vietnam Mattress Market
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Thursday, November 9, 2017

Vietnam Mattress Market is Expected to be Driven by Rising Number of International Players, Increase in Demand of Quality Mattress and Elevated Urbanization Rate: Ken Research

Vietnam market has displayed a significant growth at a CAGR of 7.6% during the review period of 2011-2016. The number of hotel rooms has increased from 256.7 thousand in 2011 to 346.9 thousand in 2016
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” by Ken Research suggested a multi bagger CAGR of 7.8% in terms of revenue in mattress market in the next 5 years till 2021.
Vietnam mattress market is a home to several domestic and international players. The international players have a well structured layer of intermediaries such as wholesalers, retailers, online retailers and other distributors and also have their own exclusive brand outlets through which they sell their mattresses to the end users. In addition to this, they have very effective marketing strategy and physical presence in all parts of the country. Kingsdown is an international player operating in Vietnam mattress market which is among the top 15 US bedding producers. It opened its first branded retail showroom in HCM, Vietnam in 2016 as a part of aggressive marketing strategy of expansion in Asia. The Vietnam showroom carries Kingsdown bedding manufactured through long time licensee Far East Foam. Dunlopillo is also an international player which has been in Vietnam for past few years. Mattress licensing group Therapedic International has also made an agreement with Hava’s Mattress co. ltd. in Vietnam in July 2017 with an aim of strengthening its presence in Southeast Asia region. Hava’s will produce and distribute at least three lines of Therapedic mattresses in Vietnam. Vietnamese consumers are generally loyal to domestic brand and products which is an important factor for purchasing any product in the country. .
With the increase in technology, various types of mattresses have been introduced in the Vietnamese market including customized mattress, mattress for toddlers, waterbed, airbed and others. Improved and advanced technology for hybrid mattress manufacturing and mattress variety coupled with the increasing marketing efforts by the mattress companies to enhance the knowledge of customers has triggered growth in the Vietnam mattress market over the years. The growing awareness among the consumers has led to the market shift from a price sensitive lot to the quality sensitive customers. Moreover, poor quality mattress pose several health related side effects for the customers such as drowsiness, back pain, obesity, lung & throat irritation, weak immune system, memory issues, heart conditions, joint soreness and reduced libido. This has led people to switch to quality therapeutic mattresses according to their personal needs. In addition to that, rise in disposable income of the people also plays a significant role in the growing demand for luxury mattress.
The Vietnamese population has been moving from the rural parts of the country to the urban areas due to employment or job-related reasons, education purposes, marriage reasons, to have better living standards and quality of life and various other reasons. This shift has led to increase in the demand of residential area hence leading to further increase in the requirement of mattresses. Urbanization has encouraged the population to shift from rural areas to urban areas where awareness about the quality mattress is higher. This led the people to purchase the quality mattresses even at a higher price.
Key Topics Covered in the Report:
Trends in Mattress Industry
Mattress Imports in Vietnam
King Size Mattress Market Size
Spring Mattress Vietnam
Market Outlook Mattress
Mattress Manufacturers in Vietnam
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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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         
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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