The global mattress market size is expected to reach USD 43.2
billion by 2025, according to a new report by Grand View Research, Inc.,
registering a CAGR of 6.7% over the forecast period. Growing demand from the
hospitality and real-estate sectors, especially in developing and emerging
countries such as India, China, and Brazil will create robust demand for the
product over the forecast period.
A major factor boosting the growth of the
global market is changing demographics. Rise in disposable income of growing
middle class, especially residing in the urban areas or the ones moving from
the rural areas to these regions in search of better education and job
opportunities is anticipated to drive the market. Millennial consumers in countries
such as U.K., U.S., and India have emerged as booming consumers of the global
mattress market. High demand is mainly attributed to young consumers who are
willing to pay a price higher than the usual for advanced products such as
memory foam and airbed mattresses.
For instance, Serta Inc. launched the iComfort
hybrid mattress with TempActiv cooling technology and a new coil support
system, which infuses copper into materials such as natural latex. This
provides immediate body contact or closeness to the element itself as copper
relieves pain, reduces arthritis-related inflammation, helps to cure several
other medical problems, and increases overall energy level.
Innerspring dominated the market and held the
largest share of 32.5% in 2018. Rising incidents of back problems associated
with uncomfortable sleeping surfaces leading to wrong postures is a major
factor for the growth of segment. In emerging economies such as India, Brazil,
and China, increasing number of affluent consumers also boosts demand for
premium mattress (memory foam) with innerspring technology. For instance,
Casper provides a transitional layer with two types of poly-foam: a softer one
at the ends of the bed for pressure relief on neck and feet and the firmer one
to support the lumbar region, thus providing complete head-to-toe support.
In several emerging countries, the governments
regard home ownership as an important policy goal and thus encourage it by
creating interest payments on mortgages. For instance, Indian government's
'Housing for All' scheme, wherein the main motto of the government is to
provide concessional houses to every individual residing in India, thereby
augmenting the demand for household essentials such as mattresses and linens in
this region. Premium hotel chains such as Hilton and Huazhu Group are focusing
on providing excellent service to attract consumers. Thus, such inflating
demand for mattresses from international hotel chains is likely to boost market
growth.
Key market players in the market include
Tempur-Pedic International Inc; Purple Innovation, LLC; Simmons Bedding Company
LLC; Serta Inc.; Spring Air Company; Southerland Bedding Co.; Select Comfort;
Kingsdown Inc.; KING KOIL Inc.; Sealy Corporation; and Paramount Bed Holdings
Co. Ltd. For instance, Purple Innovation, LLC manufactured the World's First No
Pressure Mattress, and hence is expanding its blended channel strategy by
bringing its patented-technology comfort products to selected locations across
U.S.
For full research report on Mattress Market
visit here:
https://www.grandviewresearch.com/industry-analysis/mattress-market
Further key
findings from the study suggest:
- Asia Pacific is projected to generate a
revenue of USD 10.7 billion by 2025
- Innerspring accounted for 32.5% share of the
total revenue in 2018 and is projected to exhibit a significant increase
in the next few years
- Europe is the second fastest growing region
with a CAGR of 7.2% over the forecast period. This trend is projected to
continue over the next few years
- The mattress industry is highly competitive
with the key players such as Tempur-Pedic International Inc.; Purple
Innovation, LLC; Simmons Bedding Company LLC; Serta Inc.; Spring Air
Company; Southerland Bedding Co.; Select Comfort; Kingsdown Inc.; KING
KOIL Inc.; Sealy Corporation; and Paramount Bed Holdings Co. Ltd.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/mattress-market/request/rs1
Grand
View Research has segmented the global mattress market on the basis of product,
application, and region:
Mattress Product
Outlook (Revenue, USD Billion, 2015 - 2025)
- Innerspring
- Latex
- Memory Foam
- Others
Mattress Application
Outlook (Revenue, USD Billion, 2015 - 2025)
- Domestic
- Commercial
Mattress Regional
Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- Central and South
America
- Brazil
- Middle East and
Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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