DUBLIN, July 02, 2021--(BUSINESS WIRE)--The "Vietnam Mattress Market (2021-2027): Market Forecast by Product Type, by Distribution Channel, by Application, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Vietnam Mattress Market is projected to grow at a CAGR of 5.8% during 2021-2027.
The Vietnam mattress market witnessed considerable growth in recent years on account of the growing demand for mattresses from the flourishing hospitality sector, underpinned by strong growth in tourism in the country and rising residential real estate sales. The demand for the mattress industry is on a growth trajectory mainly attributed to young consumers who are more concerned about the health status and willing to pay a price higher than the usual for advanced products which would bestow them with greater satisfaction.
However, the spread of covid-19 resulted in reduced trips to specialty stores and malls due to the risk of catching the virus, which lessened the demand for mattresses from the residential sector during the year 2020 and thus, the market revenues witnessed a decline during this year.
Also, the demand from the hospitality sector and the hotel industry was in a major slump owing to restrictions on travel and emphasis on social distancing. Moreover, mattresses were majorly demanded in the hospitals and health industry to cater for the affected patients during 2020. The lockdown period has provided a much-required opportunity to realize and focus on hygienic and comfortable sleeping schedules which can be enhanced by good quality mattresses.
The increasing number of health-conscious consumers and the rising disposable income are the major factors for the growth of the mattress market. The projected growth in the mattress market of Vietnam for the coming years can be attributed to the factors such as the rising prevalence of spinal and other health conditions, demand for improved lifestyle, increasing per capita income, rising urban population leading to higher residential demand and a flourishing hospitality sector. With the rising innovation by the manufacturers in the mattress industry, the adoption of newer and better-quality mattresses is anticipated to rise in the forthcoming period.
Key Highlights of the Report
Historical Data and Forecast of Vietnam Mattress Market Revenues for the Period 2017-2027.
Historical Market Data and Forecast of Revenues, by Product type, for the Period 2017-2027.
Historical Market Data and Forecast of Revenues, by Distribution channel, for the Period 2017-2027.
Historical Market Data and Forecasts of Revenues, by Application, for the Period 2017-2027.
Historical Market Data and Forecasts of Revenues, by Regions, for the Period 2017-2027.
Market Drivers and Restraints
Vietnam Mattress Market Trends
Industry Life Cycle
Porter's Five Force Analysis
Market Opportunity Assessment
Vietnam Mattress Market Share, By Companies
Key Strategic Recommendations
The report provides a detailed analysis of the following market segments:
By Product Type
By Distribution Channels
Online Distribution Channels
Far East Foam Vietnam
Hava's Mattress Co. Ltd
Lien A Mattress Co. Ltd
UU Viet Bedding and Mattresses PTY Ltd
Van Thanh Mattress Company Ltd
For more information about this report visit https://www.researchandmarkets.com/r/2hs0ov
View source version on businesswire.com: https://www.businesswire.com/news/home/20210702005093/en/
Laura Wood, Senior Press Manager
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