The mattress market: The battle for a market share of trillion VND

VCN- With over 90 million people, the mattress market in Vietnam is considered a fertile land for domestic enterprises. However, that attraction also requires the domestic enterprises to constantly improve quality to avoid being overwhelmed by foreign enterprises. 
the mattress market the battle for a market share of trillion vnd
The current mattress market is not only a race between big enterprises and some famous foreign enterprises, but it is also an opportunity for start-up businesses.

Huge potential

According to statistics of the Center for Information Technology, under the Ministry of Culture, Sports and Tourism, in 2016, Vietnam has about 420,000 rooms registered for accommodation services. Thus, the demand for bed sheets and mattresses for hotels is about 3,000 billion VND.

Not to mention, on a larger scale, Vietnam currently has about 25 million families and according to incomplete statistics, about 40% of these use mattresses. With the average lifespan of each mattress being 7 years, the Vietnamese market will need at least 4 million new mattresses each year, not to mention the needs of new families. As an average purchase price of each bedding set is 4 million VND, the market for mattress retail will be about 16,000 billion VND. This is considered a very good potential market for domestic and foreign enterprises.

In order to meet the needs of consumers, many enterprises have focused on improving technology, production process, creating quality products which can compete with foreign brands, and even send Vietnamese mattresses for export. Domestic famous brands include Kymdan, Lien A, Kim Cuong, King Mattress...

With foreign mattresses, South Korea is showing its “dominance” in Vietnam’s mattress market with three famous names, Hanvico, Everon and Vikosan. These 3 mattress brands are leading the market with spring mattress products, antibacterial cotton mattresses, rubber mattresses and water mattresses. They are also popular among Vietnamese consumers. Other brands such as Kingsdown (USA), Dunlopillo (England), Therapedic (USA) are for high-income consumers.

Ms. Nguyen Thi Van Anh, Managing Director of Kim Cuong Mattress Co, Ltd., said that the company's revenue is about 1,200 billion VND, an average growth rate of 25% per year, with the capacity of the company at 20,000 tons of mattresses/year. Kim Cuong mattresses serve the needs of consumers through more than 3,000 sale agents across the country.

In order to achieve the above results, according to Ms. Van Anh, the products of her company must create real value for the community and consider quality as the leading factor. “Over time, the company has invested to build modern production lines, catch up with the technological level of the world to serve consumers with quality products, diverse in models and costs,” she said.

Mr. Hoang Tuan Anh, Director of Mattress King Joint Stock Company, said that there are 40 stores in 23 cities and provinces nationwide, mainly in Hanoi, Ho Chi Minh City, Hai Phong, Can Tho. “The plan of the company in this year is to develop the system to 70 stores and launch from 60-100 new stores per year. Besides that, the company will focus on building and training teams, perfecting models and information technology systems to serve the management and operation of the company,” the CEO of Mattress King said.

Mr. Lam Ngoc Minh, Director of Lien A Mattress Company said that the company always focuses on developing production and business to meet the domestic demand and export. By the end of 2017, Lien A has been present in 38 international markets. In the domestic market, the company has built up a wide distribution network with 52 sale agents with mattress products that are rich in designs and prices.

With export markets, according to Mr. Lam Ngoc Minh, the US is one of the largest and most fastidious import markets in the world. However, with continuous efforts to improve technology and product quality, Lien A continued to build prestige and conquer the market with 98% of the export of rubber mattresses to the US market. In particular, Lien A is the only company to achieve Eco Institute certification 2018-2020 because the company has researched and developed the technology of producing rubber mattresses separately.

As for Dong Phu mattress company, Mr. Dam Duy Thao, General Director, said that in addition to traditional markets such as China and Cambodia, the strategy of the company is to bring 100% processed natural products of Vietnam to conquer Russia, European and American countries.

In addition, according to Mr. Thao, the company will continue to improve technology and production lines to improve product quality, while expanding production scale, increasing the capacity of the factory to double the current rate to meet the demand of domestic and foreign markets.

“At present, the production plants of the company have invested in the production line and modern technology of the Federal Republic of Germany, and Malaysia in closed loop production processes from the stage of planting, exploitation and processing”, said Mr. Thao.

Professional investment

According to research from Ken Research Company of India, the growth rate of the mattress market in Vietnam increased by 7.6% between 2011 - 2016. It is predicted that by 2021, the value of Vietnam's mattress sector will be about $US 291 million.

Therefore, the mattress market is not only the race of large enterprises as well as some famous foreign companies but it is also an opportunity for start-up enterprises. Recently, Ru9 Co, Ltd., has officially entered the market with the form of online selling with special preferential policies. Accordingly, Ru9 allows its customers to test the mattress within 100 days, and its customers can return and will be refunded 100% if they are not satisfied.

In contrast to the traditional business models, Ru9’s strategy is to sell directly from the factory to the customer, eliminating most of the costs incurred, such as commission, distribution systems and operation showroom.

Ms. Dang Thuy Trang, Managing Director of Ru9, said that the company can do this because the company’s mattress products are small and convenient, reducing maximum transportation costs.

With the potential of the mattress sector as many economic experts have said, in the coming time, more mattress enterprises will enter this fierce competition to develop. However, for domestic enterprises to compete with the current large foreign enterprises, mattress businesses needs professional investment in the whole system, from raw materials, equipment and technology, and quality management of output.

Besides, according to Mr. Lam Ngoc Minh, the credibility in business with information transparency are important factors to help a firm grow strong. The reason is that when companies publicize quality standards, if the management agencies come to inspect and determine the products of enterprises do not achieve the quality level as announced, in addition to being punished for violations of product quality standards, the manufacturer may also be fined for false advertising, be boycotted and lose the home market.

By D. Ngan/ Kieu Oanh

Related News

Researching and proposing amendments to 2014 Customs Law to meet the requirements of innovation

Researching and proposing amendments to 2014 Customs Law to meet the requirements of innovation

VCN - After 10 years of implementation, the Customs Law has been effective in reforming administrative procedures and protecting national sovereignty. However, in the context of innovation requirements, it is necessary to continue reforming specialized inspections and focusing on digital transformation.
Flexible and proactive when exchange rates still fluctuate in 2025

Flexible and proactive when exchange rates still fluctuate in 2025

VCN - In the last days of 2024, as many forecasts, the US Federal Reserve (Fed) continued to cut interest rates, pushing the USD index up, creating pressure on domestic exchange rates. Therefore, domestic exchange rate management policies need to continue to be flexible and appropriate, thereby supporting businesses in import and export.
Enterprises focus on Tet care for employees

Enterprises focus on Tet care for employees

VCN - Tet bonuses are always an issue that receives special attention from employees at the end of each year. This year, the economy is facing many difficulties, many enterprises in the southern provinces have announced Tet bonuses, reflecting their tireless efforts to ensure the rights of employees.
Numerous FDI enterprises face suspension of customs procedures due to tax debt

Numerous FDI enterprises face suspension of customs procedures due to tax debt

VCN - Several foreign direct investment (FDI) enterprises in HCM City have been subjected to coercive measures, including the suspension of customs procedures, for overdue import-export and domestic tax liabilities.

Latest News

Embracing green exports: a pathway to enter global supply chains

Embracing green exports: a pathway to enter global supply chains

This shift presents both a challenge and an opportunity for Vietnamese businesses to innovate and enhance their competitive edge in the international arena.
New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises

The ministry proposes to issue a decree on the establishment, management and use of the Investment Support Fund to stabilise the investment environment, encourage and attract strategic investors and multinational corporations.
Việt Nam’s durian exports to China plummet by 80%

Việt Nam’s durian exports to China plummet by 80%

This sharp decline has had a direct impact on Việt Nam’s fruit and vegetable export revenue, which stood at US$416 million in January 2025, marking a 11.3 per cent decrease month-on-month and a 5.2 per cent drop year-on-year.
Coconut exports reach 14-year high

Coconut exports reach 14-year high

In 2024, fresh coconut and coconut product exports surpassed US$1 billion, marking the highest figure in the past 14 years.

More News

Shrimp exports grow in the first month of 2025

Shrimp exports grow in the first month of 2025

According to data from the Việt Nam Association of Seafood Exporters and Producers (VASEP), shrimp products recorded a 13 per cent increase in export value in January 2025, reaching a total of $273.3 million.
Rice export prices drop, but decline expected to be short-term

Rice export prices drop, but decline expected to be short-term

Việt Nam’s rice export prices have declined, reaching their lowest level in three years.
Key agro products expected to maintain export growth this year

Key agro products expected to maintain export growth this year

At present, agricultural exports, such as rice, coffee and seafood, have steadily secured a stable place in major global markets.
EU issues 12 warnings against Việt Nam’s food and agricultural exports

EU issues 12 warnings against Việt Nam’s food and agricultural exports

The Việt Nam SPS Office has reported that some Vietnamese export products failed to meet the EU’s stringent standards.
Việt Nam to impose VAT on low-value express-imported goods

Việt Nam to impose VAT on low-value express-imported goods

Việt Nam will end a previous policy that exempted imported goods valued under VNĐ1 million (US$39.4) from taxes when shipped via express delivery.
Exchange rate risks need attention in near future

Exchange rate risks need attention in near future

VCN - Exchange rate developments in 2025 are considered to be quite complicated due to US policies related to trade and investment.
Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
Import and export turnover reaches about US$29 billion in the second half of January 2025

Import and export turnover reaches about US$29 billion in the second half of January 2025

VCN - Vietnam's total import and export turnover in the second half of January 2025 (January 16-31, 2025) reached US$28.9 billion, the latest preliminary statistics of the General Department of Vietnam Customs reported.
Market edges up slightly as liquidity remains low

Market edges up slightly as liquidity remains low

Market breadth remained positive, with 161 gainers outnumbering 144 decliners.
Read More

Your care

Latest Most read
Embracing green exports: a pathway to enter global supply chains

Embracing green exports: a pathway to enter global supply chains

This shift presents both a challenge and an opportunity for Vietnamese businesses to innovate and enhance their competitive edge in the international arena.
New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises

The ministry proposes to issue a decree on the establishment, management and use of the Investment Support Fund to stabilise the investment environment, encourage and attract strategic investors and multinational corporations.
Việt Nam’s durian exports to China plummet by 80%

Việt Nam’s durian exports to China plummet by 80%

This sharp decline has had a direct impact on Việt Nam’s fruit and vegetable export revenue, which stood at US$416 million in January 2025, marking a 11.3 per cent decrease month-on-month and a 5.2 per cent drop year-on-year.
Coconut exports reach 14-year high

Coconut exports reach 14-year high

In 2024, fresh coconut and coconut product exports surpassed US$1 billion, marking the highest figure in the past 14 years.
Shrimp exports grow in the first month of 2025

Shrimp exports grow in the first month of 2025

According to data from the Việt Nam Association of Seafood Exporters and Producers (VASEP), shrimp products recorded a 13 per cent increase in export value in January 2025, reaching a total of $273.3 million.
Mobile Version