In order to expand their sales and market share in the global mattress market, vendors are increasingly emphasizing diversifying their product offerings. They are introducing alternatives to traditional mattresses to cater to different consumer preferences. Among these alternatives, foam mattresses are experiencing the highest growth rate. Foam mattresses are favored by consumers due to their compatibility with a wide range of adjustable beds, making them a preferred choice in the market.
According to Data Bridge Market Research, the Mattress Market accounted for USD 39.4 billion in 2021 and is expected to reach USD 66.19 billion by 2029, registering a CAGR of 6.70% during the forecast period of 2022-2029.
“Growing demand for a hybrid mattress”
The market growth rate of mattresses is expected to be fueled by the rising demand for hybrid mattresses in the forecast period. Hybrid mattresses feature a comfort layer at the top and are layered with springs. The comfort layer typically incorporates cooling gel, latex, polyfoam, and memory foam. Companies like Casper Sleep Inc., based in New York, offer hybrid mattresses that include memory foam, comfort foam, a transition layer with pocketed coils, and Zoned Support for enhanced comfort and support.
What restraints the growth of the mattress market?
“High price range of latex mattresses”
The high price range of latex mattresses, typically between USD 1,900 and USD 2,000, puts manufacturers in a challenging position. They face pressure to reduce costs while maintaining premium quality to boost sales and overall revenue. However, the irregular purchase pattern of mattresses and fluctuating raw material costs, influenced by their longer shelf life, can hinder the growth rate of the mattress market.
Segmentation: Mattress Market
The mattress market is segmented on the basis of product, size, application, distribution channel, and end user.
- On the basis of product, the mattress market is segmented into foam, hybrid, innerspring, latex, water bed, air bed, adjustable bases and others.
- On the basis of size, the mattress market is segmented into twin or single size, twin xl size, full or double size, queen size and others.
- On the basis application, the mattress market is segmented into household and commercial.
- On the basis of distribution channel, the mattress market is segmented into offline retail, online retail, independent retailers/ exclusive stores, and specialty stores.
- On the basis of end user, the mattress market is segmented into hotel industry, household, hospitals and others.
Regional Insights: Asia-Pacific Dominates the Mattress Market
Asia-Pacific's mattress market dominance is attributed to rising disposable income, rapid globalization, westernization, and modernization. These trends have increased consumer spending and awareness about mattress options, driving market revenue and shares in the region.
North America is expected to be the fastest-growing region in the mattress market from 2022 to 2029. The growth is fueled by increased household spending, particularly in the hospitality and real estate sectors. The expanding population also contributes to developing the mattress market in this region, creating significant growth opportunities.
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Recent Developments in Mattress Market
- In April 2021, Spring Air International introduced the Breathe collection of mattresses, consisting of four models. These mattresses protect against viruses and bacteria, promoting healthier sleep and addressing the increased hygiene concerns amid the COVID-19 pandemic.
- In May 2020, Kingsdown Inc. announced the enhancement of its Sleep Smart Air mattress, incorporating voice and Wi-Fi activation features through Amazon's Alexa devices. This upgraded product offers convenience and connectivity, allowing users to control various mattress functions using voice commands and seamlessly integrate it with their smart home ecosystems.
The Prominent Key Players Operating in the Mattress Market Include:
- Drive DeVilbiss International (U.S.)
- SIZEWISE (U.S.)
- Kingsdown Inc. (U.S.)
- PARAMOUNT BED CO., LTD. (Japan)
- Sealy Corporation (U.S.)
- Simmons Bedding Company LLC (U.S.)
- Sleep Number Corporation (U.S.)
- Southerland Inc. (U.S.)
- Spring Air Company (U.S.)
- Tempur Sealy International Inc. (U.S.)
- American National Manufacturing, Inc (U.S.)
- SERTA SIMMONS BEDDING (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of mattress market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Mattress Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
