The ‘Global Mattress Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global mattress market size, assessing the market on the basis of its segments like products, applications, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Mattress Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 7.0%
Over the projected period, increasing population, rising disposable incomes, and increasing homeownership are anticipated to increase demand for mattresses. The growth of the healthcare and hospitality industries are other key factors boosting the expansion of the global mattress industry.
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The rise in the sale of home furnishings including mattresses, pillowcases, and bed linen as a result of the real estate industry’s growing need to meet housing demands has increased the demand, thus aiding the mattress market growth.
The size of the mattress industry is predicted to increase in developed countries like the United States due to aggressive marketing tactics including promotions, discounts, and offers. The industry is further expanding as a result of the availability of various mattress sizes to meet consumer expectations. The expansion of mattress-specific shops and outlets is anticipated to support the mattress market’s steady expansion. The market expansion is also anticipated to be aided by the growing share of the online distribution channel in the mattress market.
Healthy and hygienic sleeping habits have been gaining popularity among consumers, which would help expand the market for mattresses. These mattresses are built of a variety of materials, including layers of latex, polyurethane foam, thermal, and spring coils. Each of these materials offers the consumer a different benefit.
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Mattress Industry Definition and Major Segments
A mattress is a large rectangular pad that is used for resting and sleeping, either on top of a bed frame or independently to provide support to the spine while relaxing. The top layer of mattresses can be made of a heavy cloth that is typically quilted or connected. The mattress itself is filled with materials like cotton, foam, rubber, or metal springs, among others. Mattresses vary in terms of size and firmness, catering to the needs of specific consumers.
Based on product, the market can be divided into:
- Innerspring Mattresses
- Memory Foam Mattresses
- Latex Mattresses
- Airbed Mattresses
On the basis of application, the market can be segmented into:
Based on distribution channel, the market can be divided into:
- Offline Retail
- Online Retail
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Mattress Market Trends
Growing prevalence of spinal issues and other orthopaedic conditions are resulting in an increased demand for specialised mattresses. In both big cities and smaller towns and cities, consumers’ willingness to pay for sleep solutions has substantially altered over time. Consumer awareness and interest in conducting in-depth research, weighing prices, and making informed decisions when purchasing mattresses and other sleep solutions has increased.
The rise in the number of luxury hotels is also projected to have a significant impact on revenue growth because the bedding used in these hotels is of a high quality. The cost differential between these products and ordinary bedding is projected to benefit the mattress market.
The escalating cost of living and rising consumer awareness of mattresses are anticipated to fuel the market growth rate. Other indirect factors for the growth of the mattress market include the expanding population, rising availability of all sorts of mattresses, and the increasing use of multifunctional beds.
To expand healthcare services, both the public and commercial sectors are making significant investments in the healthcare industry worldwide. For instance, in India, the government is investing in the expansion of healthcare facilities, allocating funds to government and semi-government hospitals for the purchase of additional beds and mattresses in order to upgrade their services and capacities.
Key Market Players
The major players in the global mattress market report are:
- Tempur Sealy International, Inc.
- Serta, Inc.
- Simmons Bedding Company LLC.
- Spring Air International
- Kingsdown, Inc.
- Southerland, Inc.
- Sleep Number Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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