Market Definition
Mattresses are a fabric-filled pad that is utilized across both household & commercial sectors to offer comfort & relaxation to the body. Mattresses are made up of conventional innerspring support structures that combine layers of memory foam or latex for added support & comfort for the people.
Since mattresses are becoming a prominent part of the furniture, the competition among manufacturers is escalating swiftly and offering easy availability of a variety of mattresses across different distribution channels like specialty stores, furniture retail, owned franchise stores, and E-Commerce platforms, among others.
Market Insights
The Global Mattress Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27. The growth of the market is projected to be driven primarily by the exponentially rising population and its changing living standards, i.e., augmenting the demand for high-quality & comfortable mattresses. In addition, the swiftly expanding residential sector and the growing trend of nuclear families is another prominent factor driving the global market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR(2022-27) | 6.5% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, The UK, France, Italy, Russia | |
| Asia-Pacific: China, India, Japan, South Korea, Australia and Others | |
| Latin America: Brazil, Mexico | |
| Middle East & Africa: Israel, Turkey, UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Grupo Pikolin, Kingsdown Inc., King Koil Mattress Co., Paramount Bed Holdings Co. Ltd., Sheela Foam Limited, Spring Air Company, Tempur-Sealy International, Inc., Sealy Corporation, Select Comfort, Simmons Bedding Company LLC, Southerland Bedding Co., Suibao Group |
| Unit Denominations | USD Million/Billion |
Besides, the easy availability & affordable prices of mattresses, owing to the growing competition among manufacturers, are also propelling their sales and positively impacting the market growth. Moreover, the surging demand for medical mattresses across different healthcare facilities & households for people with health issues & who need greater comfort is another crucial aspect contributing to the overall growth of the global market.
Furthermore, with the growing tourism and influx of migrants worldwide, different countries are massively investing in their commercial sectors and augmenting the demand for mattresses to offer enhanced hospitality, thereby projecting lucrative growth prospects for the Global Mattress Market during 2022-27.
Impact of Covid-19 on the Global Mattress Market
The advent of Covid-19 in 2020 had a decelerating effect on most industries worldwide, yet the Global Mattress Market witnessed an upswing in demand. While governments of different countries imposed stringent movement restrictions & lockdowns to curb the spread of this dreadful disease, most individuals & organizations had to make a paradigm shift toward working from home.
As a result, the leading players in the global market witnessed severe challenges associated with the production & distribution of raw materials & pre-produced goods across different places. On the other hand, the demand for mattresses from the healthcare & residential sectors rose dramatically for varied applications. While governments of many countries were focused on addressing the exponentially growing cases and strengthening healthcare facilities to offer the best services, the demand for mattresses for medical applications escalated worldwide.
Moreover, since most people were working from home amidst the crisis, it boosted the need for mattresses across the residential sector to attain comfort & release stress. Additionally, as lockdowns & travel restrictions were imposed for an uncertain duration, several market leaders made a robust digital transformation, offering a platform for customers to purchase mattresses online and avail of doorstep deliveries and, in turn, further accelerated the market growth.
