Luolai*Euromonitor International jointly released the “China High-end Bedding Market Report”
In the post-epidemic stage, with the recovery of the domestic economy, driven by domestic and international dual cycle macro policies, and driven by the continuous upgrading of user consumption, the concentration advantage of mainstream home textile companies in the mid-to-high-end market has emerged. In order to comply with this trend, home textile companies have established a multi-brand matrix to meet consumers’ pursuit of high-quality life. Based on the brand’s insight into the competitive situation in this segment, Luolai and Euromonitor International recently jointly released the “China High-end Bedding Market Report” white paper based on in-depth insights into the home textile industry, conducting an in-depth study on China’s high-end bedding. , researched and analyzed the overall market size, growth rate, thrust, resistance and barriers of high-end bedding products, deeply understood the main market size and development history of each company, and made predictions about the development prospects of high-end bedding products in the next 2-3 years.
Definition of high-end bedding standardization
Bedding refers to the sets, quilt cores and pillow cores placed on the bed for people to use while sleeping. High-end bedding mainly refers to bedding made using advanced technology or scarce materials. The retail price of high-end bedding products is generally more than 3,000 yuan. The main components and mainstream classification core of high-end bedding products are three major categories: sets, quilt cores, and pillow cores.
The domestic high-end bedding market has gone through the budding and cultivation period of introducing foreign brands and foreign technologies, and has now reached the development period of independent research and development technology by outstanding domestic home textile companies
The development of the high-end bedding market has gone through three stages as a whole: the budding stage from 2003 to 2007; the cultivation stage from 2008 to 2016; and the development stage from 2017 to the present. In 2003, domestic home textile companies began to try to develop the high-end bedding market for the first time. Fuana was the first to establish its high-end brand Visa that year. In 2005, Luolai established a strategic partnership with SHERIDAN and introduced the latter to China. Italian brand Rockaf enters China through agents. Hunan Mei Home Technology Co., Ltd. was established, fully responsible for the operation of Mei MINE brand. In the subsequent cultivation period, manufacturers try to further enter the high-end market by introducing advanced foreign bedding technology from Japan, Italy and other places, and actively exploring overseas brand agents or investing in and acquiring overseas brands. Since 2017, major high-end brands have vigorously developed technology and tried to differentiate their products. There are hundreds of domestic brands with patented bedding technologies. In 2018, Luolai launched Texsoft, the first generation core softness technology of Luolai home textiles with independent intellectual property rights, making the fabrics more fluffy and soft, and launched a high-end “Pure” series of products. Luolai has formed a systematic strategic cooperation with Europe’s leading textile industrial sites. In terms of material selection, it cooperates with a century-old German silk brand to enhance the superior attributes of silk fiber. In terms of production technology, it actively adopts Italian long-staple cotton jacquard technology and Spanish super-soft and high-precisiondigital printing and other leading technologies to create a complete imported series of home textile products. In 2020, Mei uses GIZA 45 Egyptian long-staple cotton, coupled with T1000 high-count and high-density Italian craftsmanship, to create a series of “thousand yarn brocade” bedding products, which use cotton material to present a better touch and luster. In the same year, Luolai collaborated with PATONE on wedding products to create Luolai wedding red and the Forbidden City Culture released a co-branded model for the emperor’s wedding. At the same time, Luolai actively explored the high-end wedding market and proposed limited edition pure hand-embroidered silk products to provide consumers with “super-soft” bedding. experience.
Mainland China’s high-end bedding market has maintained relatively stable growth in recent years, and the overall market size is expected to reach nearly 9.36 billion yuan in 2022
The overall market size of high-end bedding in mainland China was 7.34 billion yuan in 2017. The compound growth rate of overall retail sales from 17 to 19 was 5.6%. Affected by the epidemic in 2020, the year-on-year growth rate was approximately 1%, and the overall high-end market size was 8.25 billion yuan. It is expected to resume previous growth in 2021, and the overall market volume is expected to reach nearly 9.36 billion yuan in 2022, achieving an annual compound growth rate of 6.5%.
National policies lay the foundation for industry development, and the dual upgrading of consumption and industry leads industry development
The country has successively promulgated the “Textile Industry Adjustment and Revitalization Plan”, “Guiding Opinions on Accelerating the Construction of Independent Brands of Clothing and Home Textiles”, “Twelfth Five-Year Plan for the Textile Industry” Policies such as the “Development Plan” have pointed out a clear direction for the development of my country’s bedding industry and laid the foundation for the stable development of the overall industry.
In addition, the core of the demand side highlights the strong growth of luxury goods consumption capacity, and the first factor driving demand side growth is the consumption upgrade driven by the development of the national economy. High-end bedding products appear in residents’ lives as a symbol of status and luxury, promoting the development of the overall market. The second point is the promotion of compensatory consumption based on enjoyment under the pressure of social survival. As social competition becomes increasingly fierce, As life pressure increases, consumers have more motivation and demand to buy and enjoy high-end bedding products to compensate for the stress and fatigue they feel in daily life.
The supply side focuses on intelligent manufacturing to lead industrial upgrading. As domestic enterprises increase the integration of spinning and weaving and intelligent control�Carry out precise marketing to the target audience groups, accurately lock the target customer groups, develop the company’s own membership management system, cultivate customer loyalty, and carry out more and more customized brand marketing activities. In terms of product technology, the use of green and environmentally friendly materials has increasingly become a trend. Today, as competition in the bedding industry becomes increasingly fierce, green and environmental protection has become a development trend, both from the perspective of national policy advocacy and from the perspective of market consumer demand. Finally, at the production model level, the home textile industry is a labor-intensive industry. Due to the continuous increase in labor production costs, internationally advanced home textile companies continue to improve the level of production line automation. At the same time, how to effectively implement the application of automation technology, while improving production efficiency and product quality, and improving the utilization rate of raw materials will become a new journey for home textile companies to continue to gain more high-end bedding market shares in the future.
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