Market Research Reports - Ken Research Vietnam Mattress Market Segmentation

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.