Market Size of Vietnam Mattress Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.18 Billion |
| Market Size (2029) | USD 1.79 Billion |
| CAGR (2024 - 2029) | 8.67 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Mattress Market Analysis
The Vietnam Mattress Market size is estimated at USD 1.18 billion in 2024, and is expected to reach USD 1.79 billion by 2029, growing at a CAGR of 8.67% during the forecast period (2024-2029).
Mattress demand is expected to grow due to increased awareness of the need and use of various types of mattresses, urbanization, rising income, a growing number of enterprises providing the products, and an increased variety of mattresses. Households are growing year-on-year as the population and number of nuclear families continue to grow. This increase in awareness, combined with the growth of the hospitality industry, will positively impact the mattress industry in Vietnam, which the strong development of tourism and the increasing sales of residential real estate in the country will support.
The mattress industry is seeing an increase in demand, mainly due to the fact that young consumers are more concerned about their health and are willing to spend a higher price on innovative products that will give them better satisfaction. Due to the high incidence of spinal and other forms of health disorders in the country, therapeutic mattress products are expected to have a promising future in Vietnam. The changes in customers, players, demand, and bedding tastes in the industry.
Furthermore, the construction of hotels, residential houses, villas, and luxurious houses is expected to generate high sales revenues in the country owing to an increase in tourist and foreign delegation visits from China and Korea willing to buy houses, increasing the adoption of mattresses, which is expected to proliferate the mattress market in the country.
By distribution channel, specialty retailers that specialize in mattresses captured most of the market share. Customers can physically compare the mattresses on display and select the best match for their bed based on their comfort. The rising popularity of online mattress retail stores among millennials, with the rising number of smartphone users and internet penetration, is expected to create significant growth in online retail store categories in the future years. Alibaba, Tiki, Lazada, and Vatgia are the top online mattress retailers in Vietnam. Online channels have several benefits over purchasing from the physical store, including more convenience, discounts and offers, time and money-saving, and others.
