Pune, India, May 4, 2023 (GLOBE NEWSWIRE) — Worldwide mattress market to hit $49.24 billion in 2021 is expected to rise from $50.61 billion in 2022 to $72.95 billion by 2029displays a Compound annual growth rate of 5.36% during the forecast period. Growing global demand for luxury and bespoke products signals a significant shift in consumers’ perceived idea of mattresses beyond durable goods into an indicator of social status, he says. Fortune Business Insights™ In its report entitled, “Matress Market, 2022-2029”.
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List of Major Players Featured in Mattress Market Report:
- Serta Simmons Bedding, LLC (United States)
- Tempor Sealy International, Inc. (United State)
- Sleep Number Company (USA)
- Paramount family holding company. ltd (japan)
- Kingsdown, Inc. (United State)
- Picolin Group (Spain)
- King Koil bed. Co (United States)
- Suibao Group (China)
- Greiner AG (Austria)
- Sheila Phom Ltd. (India)
Report Scope and Segmentation:
| Report attributes | details |
| forecast period | 2022-2029 |
| compound annual growth rate forecast | 5.36% |
| 2029 drop the value | 72.95 billion US dollars |
| Market size in 2021 | 49.24 billion US dollars |
| Historical data | 2018-2020 |
| number of pages | 214 |
| report coverage | Revenue forecasts, company profiles, competitive landscape, growth factors and latest trends |
| Covered slices |
|
| covered areas |
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| Mattress Market Growth Drivers | The increase in the number of housing units in favor of the expansion of the market |
| Increasing consumer awareness regarding the health benefits of better sleep to accelerate product demand |
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Sectors-
By article, high prevalence of traditional concepts to stimulate demand
On the basis of type, the global market is segmented into spring/coil, foam, latex, and others. During the forecast period, the spring/coil segment is expected to grow at a rapid pace. Conventional spring/coil or internal spring based products are available for users. Metal springs are used in the manufacture of these products to provide a base layer of support for added comfort.
By volume, wide product adoption has been increasing to accelerate product sales
Queen size products are among the most popular and preferred sizes around the world. These items provide enough space for two people and are usually found in master bedrooms. According to the results of a survey conducted by Bedbuyer Pty Ltd, an independent Australian mattress review site, approximately 61% of those surveyed preferred sleeping on a queen size product, followed by king, double and single, among others. Baby mattresses are gaining popularity all over the world, with a large number of brands launching new products in a variety of sizes.
Through the application, the growth of international tourism to increase product sales
On the basis of application, the market is segmented into homes, hospitality facilities, healthcare facilities, and others. According to the results of the National Federation of Family Survey published in March 2020, among the basic factors considered influencing household consumer buying decisions, the level of “comfort” topped the list, with about 66% of the respondents expressing their preference for comfort, followed by price (57%). , and reviews from other customers increased by 31%. The increasing number of initiatives by governments across the world to provide affordable housing is driving the demand for products in the household category.
COVID-19 Impact:
The COVID-19 crisis is causing severe disruptions to the supply chain that will hamper business growth
The COVID-19 pandemic has had a significant impact on the growth of the mattress market. Due to the drop in demand for expensive mattresses and sleep products, manufacturers have had to delay product launches and cut costs as a result of the unprecedented pandemic. Trade tensions and trade protectionism between China and Australia and the United States or other trading partners are likely to hamper international product sales in the near term. Several market players have used various strategies in recent years to mitigate the impact of COVID-19 on their operations.
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Report coverage:
The research report examines the market in depth and highlights important factors such as prominent companies, product types, and volumes. Apart from that, the research report discusses market trends and highlights important industry developments. In addition to the previously mentioned aspects, the report includes several factors that contribute to the growth of the market.
Drivers and restrictions:
The increase in the number of housing units in favor of the expansion of the market
The increasing number of residential buildings worldwide, along with increased consumer spending on home furnishings and bedding products, is driving the growth of the global industry. The increasing number of single homes and nuclear families worldwide necessitates a separate room for each family member across countries, which boosts demand for the product. According to National Family Federation survey results published in March 2020, the percentage of survey respondents who had purchased the product increased from 24% to 32% in the previous six months. However, high product life is one of the most important factors influencing consumer purchasing decisions in retail stores and online marketplaces around the world.
regional insights
North America is emerging as a critical market
In 2021, North America has emerged as the most important market. North America’s mattress market share, led by the US, is characterized by strong consumer preference for luxury and high-quality goods.
The fast growing travel and tourism industry benefits the European market. Numerous tourist attractions across Europe are facilitating product trading in the hospitality sector in this regard.
The Asia Pacific region is expected to experience the fastest compound annual growth rate between 2022 and 2029. The large market size in the region is due to the rapid growth of residential units in China and India.
It is expected that sales of products in the South American, Middle East and African markets will increase in the near future. In recent years, industry participants have focused their efforts on establishing themselves in these markets.
Competitive scene
Product concepts that will be refined through emerging categories
Various competitive strategies, such as new product launches and collaborations, have been implemented by industry participants to help them stay ahead of the increasingly fierce competition. In recent years, there has been an increase in the demand for innovative products. Due to the ease of product delivery, the bed-in-box category has gained widespread attention in this regard.
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Detailed table of content:
- introduction
- Search range
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market drivers
- market restrictions
- market opportunities
- the main ideas
- Main market overview
- Industry SWOT analysis
- Supply Chain and Regulatory Landscape
- Market analysis and insights (in relation to COVID-19)
- The impact of COVID-19 on the market
- Supply chain challenges due to the pandemic
- Potential opportunities to support the market
- Global Mattress Market Analysis, Insights & Forecasts, 2018-2029
- Main findings/summary
- Market size estimates and forecasts
- By article
- spring / file
- foam
- rubber
- others
- By size
- Depending on the application
- family
- hospitality
- health care
- others
- By region
- north america
- Europe
- Asia Pacific
- south america
- Middle East and Africa
- By article
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Main industry development:
- March 2022: Under the SLEEP NUMBER 360 brand, Sleep Number Corporation debuted its artificial intelligence (AI) powered smart bed. The new product includes advanced built-in sensors that continuously monitor and improve users’ sleep and health by adapting to their changing needs. This smart bed also aims to provide users with real-time insights and responses through continuous monitoring of their overall health, healthy behaviors, and chronic sleep challenges.
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