Mattress Market Future Growth Challenges, Size, Share, Demand, Trends, Revenue and Forecast to 2024
Research Reports
Jan 12, 2021
Overview:
A mattress can be defined as a rectangular cushioning that comprises a quilted or similarly fastened case that generally finds heavy clothing as a part. It can be of several things like cotton, foam, hair, straw, water, rubber, air, or of metal springs. The global mattress market follows standard sizes like for width, height, and depth. But there also a variation where people buy on the basis of words like queen, king, or double where it stands for mattress dimensions. Its application for long time ensures deterioration and its lifespan depends on several aspects like materials used, manufacturing standard, using duration, and how much care has been taken.
Various expansion plans, innovation in technology, growing investment in research and development, better handling of marketing strategy can inspire substantial growth. The market is also benefiting from increasing competition as new entrants are giving tough competition to big league players. In addition, demand for smart mattresses are rising in regions like Asia Pacific and South America. Developing economies in these countries can ensure better experience.
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Segmentation:
Type and end user are segments in which the global mattress market can be studied for a better understanding. These segments are amply backed up by factors fetched by adept analysts using various data inputs.
By end user, the market for mattresses includes residential and commercial. The residential segment owned most of the market shares in 2017. The demand is on the rise with booming population and increasing per capita income in diverse strata of the society. Meanwhile, the growing number of hospitals, schools, five-star resorts, hotels, motels, and commercial facilities can spur the intake of mattresses in diverse countries.
By type, the Mattress Market comprises hybrid, memory foam, latex, innerspring, gel-filled, and others. The innerspring segment had the maximum market coverage in 2017. However, the hybrid segment has the potential to grow with the fastest CAGR during the forecast period. Optimal pressure relief, high durability, temperature regulation, better weight distribution, and suitability to an array of sleeping positions are expected to provide the gel-filled mattresses much leverage.
Regional Analysis:
North America had the market advantage in 2017 when it occupied 38.45% of the global market share. It is expected to witness a hike by a CAGR of 6.50% during the forecast period. This regional market is getting led by the US. But the Canadian market has the promise to catch up sooner. The regional growth is of 7%, which the market is expected to maintain throughout the review period.
The Asia Pacific mattress market has the potential to surpass a valuation of USD 15,557.5 million by 2024. This growth can be attributed to the growing demand for home furnishing among the middle class due to the rising cases of urbanization. This growth chart is getting further backed by the rising per capita income that can assist people in buying more and buying of better-quality mattresses. China had the largest share in 2018 and is expected to maintain its prospects. India is also giving substantial scope to the market to expand its base in the region.
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Competitive Landscape:
A number of companies are engaging themselves in the strategic planning for the global mattress market growth. This would depend on several tactics like branding, collaboration, marketing, and others. These companies are Corsicana Mattress Company (US), Sleep Number Corporation (US), Kingsdown, Inc. (US), Tempur Sealy International, Inc. (US), Serta Simmons Bedding, LLC (US), Southerland, Inc. (US), Relyon Ltd (UK), and Pleasant Mattress, Inc. (US). MRFR enlisted these companies and recorded their recent activities for a better understanding of the global market.
In September 2019, Duroflex launched the first-of-its-kind orthopaedic mattress range in India. The company is wishing to capitalize on the large patient pool that the country has and establish itself in the market with the beginner’s advantage.
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