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.
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.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|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.
Based on Application:
Amongst them both, the Household sector is projected to dominate the Global Mattress Market with the largest share during 2022-27. It owes principally to the exponentially growing population, improving economic conditions, and changing living standards, i.e., demonstrating a growing demand for mattresses for better sleep & comfort.
Besides, with the rapidly developing urban sector & better housing schemes launched by governments to habitat the people, the demand for mattresses is elevating simultaneously and, in turn, stimulating the growth of the global market. Moreover, the growing influx of migrants entwined with a trend of offering furnished homes to people on lease are other prominent aspects accelerating the demand for mattresses for household applications.
Based on Size:
Here, mattresses of queen size are anticipated to acquire the largest market share over the forecast years, principally due to the increasing inclination of customers toward procuring beds of this size that can accommodate two adults comfortably without taking up much space in the bedroom.
Besides, benefits like cost-effectiveness, lesser space occupancy, & easy-to-move are other prominent aspects contributing to the mounting demand for queen-size beds and, in turn, positively influencing the overall market growth.
Geographically, the Global Mattress Market expands across:
Amongst all regions globally, Asia-Pacific is anticipated to dominate the Mattresses Market with the largest share during 2022-27. It owes to the exponentially rising population with growing purchasing power and the blossoming e-commerce sector. Besides, the increasing government focus on providing habitation to the public is projecting a rapid expansion of the residential sector across different countries, which, in turn, is positively influencing the overall market growth across Asia-Pacific. Moreover, increasing nuclear families are also among the prominent consumers of mattresses & contributing significantly to the overall market growth through 2027.
On the other hand, North America & Europe are anticipated to attain a notable market share over the forecast years, principally due to the rapidly increasing influx of tourists & migrants, i.e., surging the demand for mattresses and fueling the regional market growth. Besides, the trend of separate rooms for kids is another crucial aspect anticipated to play a crucial role in propelling the market growth across North America & Europe through 2027.
Key Driver: Easy Availability & Affordability of Mattresses
Due to the swift expansion in the retail sector and growing competition among the leading manufacturers of mattresses, they are becoming easily available across different distribution channels at affordable prices & a wide variety. As a result, their demand & sales are escalating and projecting an acceleration in the customer base in the coming years.
Moreover, the active participation of manufacturers offering new varieties of mattresses with different fillings & features is also attracting customers and enabling the leaders to expand their product portfolio & reachability worldwide. Hence, these factors are projected to play a crucial role in driving the Global Mattress Market through 2027.
Possible Restraint: Rising Concerns over Durability & Availability of Low-Cost Local Mattresses
Mattresses have become an integral part of the furniture, and their demand is swiftly escalating worldwide. However, since even those with high durability & quality require a replacement after several years, the cost-sensitive population might not invest in such high-priced & premium mattresses and, in turn, limit the growth of the global market. Moreover, the easy availability of affordable & low-quality mattresses at nearby stores might also play a crucial role in restraining the market growth for the leading companies.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Mattress Market is projected to grow at a CAGR of around 6.5% during 2022-27.
A. The growing influx of tourists and swiftly developing commercial sector are surging the demand for mattresses to offer excellent hospitality to the customers. It, in turn, is playing a crucial role in driving the Global Mattress Market & generating lucrative opportunities for the leading players through 2027. On the other hand, the easy availability of low-cost & locally available mattresses might restrain the market growth in the years to come.
A. The Household sector is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Mattress Market over the forecast years.