Market Trends of Vietnam Mattress Industry
Growth in the Number of E-Commerce Users is Increasing the Demand
The prevalence of mattress brands has increased significantly in recent years, and the COVID-19 pandemic has further contributed to the expansion of this industry. While many companies were enduring a period of sleeplessness, the online mattress industry was thriving. With many individuals confined to their dwellings, they sought to purchase products to improve their domestic life. The trend of shopping for higher-value products online has become increasingly popular among consumers. In the past, mattresses were typically the first product to be tested in physical stores prior to making a final purchase decision. Online shopping has become more popular due to the growing popularity of the internet and the growing number of smartphone users worldwide.
The online segment of the home care product market is expected to experience significant growth in the coming years, driven by the presence of prominent online retailers, including Amazon.com, Alibaba Group, and other market players. These players offer a wide selection of products in the home care product category, including mattresses, and each has its web portal, allowing customers to explore a variety of mattresses and other home care products.
Residential Application Drives Mattress Market Sales
The Vietnamese population has been migrating from rural to urban regions for a variety of reasons, including job opportunities, education, marriage, improved living standards and quality of life, and a variety of other factors. This transition has increased the demand for residential areas, which has resulted in a rise in the demand for mattresses, which has had a favorable impact on the country's mattress demand. Rising industrialization, as well as an increase in the number of universities and offices in cities, has pushed people to migrate from rural to urban areas. Furthermore, in metropolitan areas, there has been a trend of families becoming nuclear families, which has increased the demand for mattresses even more.
The increased number of residential projects and improved infrastructure have increased the number of residential units, necessitating more bedding accessories, which will benefit the Vietnam mattress industry. Most mattress sales occurred in non-residential sectors such as hotels, hospitals, guest houses, and wedding halls in the early stages of the market. Still, as time and demands changed, demand from the domestic sector increased as well. Furthermore, demand was mostly from urban areas, with rural areas providing just a minor portion. Other parts of the country began to expand because of the country's balanced economic growth. Exports and imports have also increased significantly in response to consumer demand.
