Latex Mattress Opportunity in the Developed Markets of Europe: Germany, UK, France & Italy (December 2023)

92 pages. The main objectives of this study are to examine the latex mattress market in major developed countries of Europe namely Germany, United Kingdom, France, and Italy and to identify export opportunities for Malaysian companies to the four (4) markets. The latex mattress industry is experiencing significant growth in these countries. In 2022, these four countries are estimated to account for about 68% of the latex mattress and 50% of the latex foam markets in Europe. Rising disposable income, increased in back pain, and increase awareness on sustainable products are among the key factors affecting latex mattress growth in these countries. The latex mattress consumption in Germany, UK, France, and Italy is projected to grow at 8.1% CAGR for 2022-2027, reaching USD2.7 billion in 2027. Germany is expected to remain the largest consumer, followed by the UK. Majority of latex mattresses consumed in these countries are sourced through local suppliers, due to shorter lead times and lower costs (logistics, tariffs, and import duties). Sweden, Italy, and Germany are the key countries of origin for local suppliers. However, the trend of sourcing latex mattresses from foreign suppliers is anticipated to grow due to increasing production costs in the UK and EU, mainly caused by rising energy costs. Meanwhile, latex foam consumption in Germany, Italy, France, and UK is expected to grow at 8.2% CAGR for 2022 - 2027, reaching USD590 million in 2027. Germany has the highest latex foam consumption size, followed by Italy. Similar with latex mattress, local suppliers are the main source for the latex foam in these four countries thanks to shorter lead times and lower logistic costs, tariffs, and import duties. Belgium, Italy, and the Netherlands are the main countries of origin for the local supplies.