Memory Foam Mattress Market (USD 9,281 MN by 2027) | Size and Growth Analysis
Research Reports
Jan 20, 2021
The Memory Foam Mattress market was valued at USD 4,765 million in 2020 and expected to grow at a CAGR of 1% during the forecast period from 2021 to 2027 to reach around USD 9,281 million in 2027.
Memory Foam Mattress exhibits combination of memory foam along with spring or support foam. Memory Foam Mattress utilizes body temperature to softer and acquire shape of body part resting on it. Memory Foam Mattress are designed and developed to get ultimate comfort and support. Memory Foam in memory foam mattress remember the shape of body usually sleeping position of offer maximum comfort. It is sometime also called as visco-elastic foam. Memory foam is typically made of polyurethane.
Key Trends in Global Memory Foam Mattress Market
Extreme Comfort Provided by Memory Foam is Fueling the demand for Memory Foam Mattress
One of the most important growth drivers for the Memory Foam Mattress market is the extreme level of comfort that it offers. Memory Foam Mattress reduces the pressure on the body of the user and thus facilitates the relaxation of every part of the body resting on it. Spine, neck, hips and all parts of the body are re-aligned with the use of the Memory Foam Mattress. Weight of all body parts is evenly distributed on the Memory Foam Mattress.
However, high price and uneasiness in using memory foam mattress during hot and cold climatic conditions can be one of the major factor arresting the growthof this industry to some extent.
Impact of COVID 19 on Global Memory Foam Mattress Market
COVID 19 has left an unparalleled impact on growth of global Memory Foam Mattress industry. The global Memory Foam Mattress has witnessed very severe setback like never before. The demand for Memory Foam Mattress is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Memory Foam Mattress.
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Global Memory Foam Mattress Market by Type Insights
Based on its type, the global market for Memory Foam Mattress can be segmented below 10 cm, 10 to 30 cm and above 30 cm. The 10 to 30 cm segment captured the maximum share of Memory Foam Mattress revenue in 2020. Increasing popularity of this segment can be attributed to rational pricing and increasing demand for Memory Foam Mattress among middle-class people around the world. Over 30 cm holds the second largest position in terms of total revenue generated by the global market for Memory Foam Mattress in 2020.
Global Memory Foam Mattress Market by Application Insights
Based on its application, the global Memory Foam Mattress market can be segmented into Residential Use and Commercial Use. At present, commercial segment accounted for the largest chunk of total revenue generated by this industry. However, with increasing awareness among end-users regarding benefits of memory foam mattress has been resulted into growing demand around the world. It also offers other benefits such as less noise, no transfer of movement, low cost of maintenance, extended durability, etc. As memory foam mattress are made of materials that facilitate easy breathing during sleep time and offers good health, especially for the people suffering from of highly sensitive to allergy.
Global Memory Foam Mattress Market by Regional Insights
North America accounted for largest share in 2020 and was closely followed by the Europe and Asia Pacific. High purchasing power parity, deep routed distribution channels and higher awareness among end-users is mainly driving the demand for memory foam mattress in North America and Europe. Commercial segment has been remained major end-user of memory foam mattress in these regions. However, Asia Pacific is likely to grow at a rapid pace over the forecast period. Increasing disposable income in the hand of large size middle class population with increasing trend for luxury goods in Asia Pacific is likely to push demand for memory foam mattress industry in the region.
Global Memory Foam Mattress Market Competitive Landscape
Key players in the manufacturing sector Memory Foam Mattress, including but not limited to Tempur Sealy, Mlily, Serta, Simmons, Sleemon, Sinomax, Corsican Bedding, Kingsdown and Restonic. The market share of the memory foam mattress industry is fairly fragmented with a large number of industry participants worldwide. Memory foam mattress production is dominated by Asia Pacific, with an abundance of raw materials and cost-effective labor.
Market Segmentation
Global Memory Foam Mattress Market by Type, 2015 – 2027
- Below 10 cm
- 10 to 30 cm
- Above 30 cm
Global Memory Foam Mattress Market by Application, 2015 – 2027
- Residential Use
- Commercial Use
Global Memory Foam Mattress Market by Region, 2015 – 2027
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Memory Foam Mattress Market: Key Players
- Tempur Sealy
- Mlily
- Serta
- Simmons
- Sleemon
- Sinomax
- Corsicana Bedding
- Kingsdown
- Restonic
- Others
Key questions answered in this report
- COVID 19 impact analysis on global Memory Foam Mattress industry
- What are the current market trends and dynamics in the Memory Foam Mattress market and valuable opportunities for emerging players?
- What is driving Memory Foam Mattress market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Memory Foam Mattress market?
Key growth pockets on the basis of regions, types, applications, and end-users - What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
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