Pune, India, May 24, 2021 (GLOBE NEWSWIRE) -- The global mattress market size is projected to reach USD 42.84 billion by 2028, exhibiting a CAGR of 4.8% during the forecast period. The launch of novel products by companies, providing convenience and comfort to the consumers, is expected to fuel market growth. Fortune Business Insights™ mentions this information in its report titled "Mattress Market, 2021-2028."
The demand for the product has remained steady over the years as it is a very common furnishing commodity. Companies have launched a new range of under-the-bed in-box range that is slim and convenient to use. For example, Kingsdown announced the launch of a new type of mattress named "Boxed-Bed'' in January 2021.
In addition, the rising awareness among the consumers for e-commerce home furnishing is responsible for the escalation of product sales through online sites. For example, as per the annual report of Legget and Platt, the sales of the product will likely experience a two-fold increase of over 30% from e-commerce websites by 2022.
Furthermore, companies aim to launch smart beddings using advanced sensors in beds to study the sleeping patterns and use cases of the consumers to tune the bedding's setting to offer a comfortable experience to the users. For example, Xiaomi Inc., with the help of crowdfunding, announced an 8H Smart Mattress in China in July 2021 that helps the user adjust the softness of the product through their smartphone by using the MiApp. The technological enhancements and availability of comfortable products are expected to propel the market for the foreseeable years.
Get Sample PDF Brochure (Including COVID-19 Impact Analysis):
Impact of COVID-19
Rising Product Demand from Healthcare Sector to Fuel Market Growth
This market is positively affected during the COVID-19 pandemic because of the rising demand for the product in hospitals. The rising cases in several regions are expected to boost the need for the product to provide comfort to the patients. For example, Kingsdown announced the expansion of its manufacturing activities because of the rising demand from hospitals to provide beds to the patients suffering from COVID-19.
In addition, the company is focusing on improving its Care Xpress Program for providing medically certified bedding to patients. Hence, despite the pandemic, the market is expected to boom in the healthcare sector.
By material, the market is segmented into spring/coil, foam, latex, hybrids, cotton, and others. Based on size it is divided into queen, twin, full, king, California king, and others. On the basis of application, it is classified into household, healthcare, hospitality, educational institutions, defense, and others. It is geographically grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights of the Report
The report conducts an analysis of the latest trends and the top segments. It comprehensively studies the impact of COVID-19 on the market and the driving and restraining factors. Additionally, it examines the regional developments and the strategies implemented by the market's key players.
List of the Leading Companies Profiled in the Global Mattress Market are:
- Serta Simmons Bedding, LLC
- Tempur-Sealy International Inc.
- Sleep Number Corporation
- Paramount Bed Holdings Co., Ltd.
- Kingsdown Inc.
- Grupo Pikolin
- Sheela Foam
- King Koil Mattress Co.
- Greiner AG
- Suibao Group
Browse Detailed Summary of Research Report with TOC:
Drivers and Restraints
Rising Population to Spur Business Opportunities
The growing population has led to the rising demand for several home care products, including beddings. For example, as per the data published by Housing Statistical Release in July 2019, the total number of households in England has reached 169, 770 till the Quarter of March 2019. It is an increase of over 6% in comparison with the previous years. In addition, the demand for luxury furnishing and beds for kids is increasing substantially.
Brands are launching beddings with advanced technologies to increase the comfort of children. For example, Sleep Number launched a bed named "The SleepIQ Kids k2" powered by sleep IQ technology and the company's proprietary DualAir adjusting feature that provides comfortable sleep to children.
Further, comfortable bedding solutions can aid in curbing sleep deprivation caused by sleeping on uncomfortable beds. For example, according to the data published by the Better Sleep Council's Consumer Research study in 2017, approximately 83% of people replaced their beds because they weren't comfortable. Companies are launching comfortable bedding solutions to mitigate spine problems.
For example, Duroflex announced the launch of "Duropedic'' in 2019 for India. The product received certification from the National Health Academy as the mattress provides support to the spine and helps to maintain sleeping posture. Therefore, the consumers' pursuitof comfortable bedding solutions is expected to drive the mattress market growth.
However, the longer sustainability of the product is expected to reduce the purchase of new furnishing products by the consumers and hamper the market growth.
Rising Demand for Comfortable Bedding to Foster Growth in Asia Pacific
The Asia Pacific is projected to dominate the mattress market share because of the rising demand for convenient bedding solutions from developing economies such as India and China. For example, according to the Indian Sleep Products Federation's Comfort Time Magazine issue 2019, China was among the leading importers of comfortable beddings in 2018, holding a share of 85.4% for comfortable bedding.
North America and European regions are expected to grow substantially because of the rising demand for luxurious furnishing products. In addition, the spike in tourism activities has promoted lodging facilities and boosted demand for bedding for audiences in their specific regions.
Key Players to Expand Production Activities to Achieve a Substantial Market Position
Some key players have opened up new manufacturing plants in other regions to expand their production activities. For example, Tempur-Sealy launched a new bedding manufacturing plant in North America in August 2021. Furthermore, key players have also utilized the strategy of product launch with enhanced features to aid sleep deprivation and solve spine problems.
For example, Kingsdown Zed Bed unit launched a product named Adjust Copper Collection Mattress that uses copper VX foam embedded into the bedding and offers benefits to people suffering from spinal disease and sleep deprivation by using VX-ventilation extreme technology.
January 2021: TempurSealy acquired the assets of Sherwood Bedding to improve the company's market position.
Inquire Before Buying This Research Report:
Major Chapters in Table of Contents are:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Mattress Market Analysis, Insights and Forecast, 2017-2028
- North America Mattress Market Analysis, Insights and Forecast, 2017-2028
- Europe Mattress Market Analysis, Insights and Forecast, 2017-2028
- Asia-Pacific Mattress Market Analysis, Insights and Forecast, 2017-2028
- South America Mattress Market Analysis, Insights and Forecast, 2017-2028
- Middle East & Africa Mattress Market Analysis, Insights and Forecast, 2017-2028
- Competitive Matrix
- Company Profiles
Have a Look at Related Research Insights:
Travel Pillow Market Size, Share & Industry Analysis, By Product Type (Multipurpose Travel Pillow, Head Support Pillow, Neck Support Pillow and Others), By Material (Cotton, Polyester, Wool & Hemp, Silk and Others), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Stores, Others) And Regional Forecast 2021-2028
Luxury Goods Market Size, Share & COVID-19 Impact Analysis, By Product Type (Watches & Jewelry, Perfumes & Cosmetics, Clothing, Bags/Purses, and Others), End-user (Women and Men), Distribution Channel (Offline and Online), and Regional Forecast, 2020-2027
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
US:+1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245