PUBLISHER: Market Research Future | PRODUCT CODE: 1417621
PUBLISHER: Market Research Future | PRODUCT CODE: 1417621
Market Overviiew
The Asia-Pacific mattress market is projected to witness significant growth during the review period, exhibiting a CAGR of 8.10%. The market was estimated to be USD 17.94 billion in 2022 and is expected to reach a value of USD 38.49 billion by the end of the forecast period (2023-2032).
The Asia Pacific mattress market is highly dynamic, being influenced by several different drivers, restraints, opportunities, and trends. Because more people are moving into urban areas, there is a greater need for mattresses to meet the comfort requirements of the growing population. The market has been propelled by increasing disposable incomes across Asia, which have made high-end mattresses more affordable for more people. The shift towards sustainability and eco-consciousness in the mattress market is indeed significant and reflects broader trends in consumer preferences. To thrive in the sustainable mattress market, companies should focus on differentiation, quality, pricing, and customer-centric strategies while also being flexible and responsive to changing market dynamics and regional variations in the Asia-Pacific region.
Moreover, the Asia-Pacific mattress market faces several challenges. A primary concern revolves around the materials utilized in mattress production. Additionally, the rise in counterfeit mattresses is a concerning issue that not only affects the credibility of trusted mattress brands but also poses serious risks to consumer safety and satisfaction. High-quality mattresses are slow to catch on in some regions of the region because of the high price tag. In addition, the complexity of regulations and import limitations in some countries might be a roadblock for manufacturers.
Based on type, it is bifurcated to innerspring, hybrid, foam, latex, and others. Out of these, innerspring segment accounted for a market share of 24.43% in 2022 and is expected to exhibit a CAGR of 7.51% during the forecast period owing to the increasing wellness and self-care trends eventually contributing to its segmental growth.
Based on category, this segment is divided into organic and regular. Based on size, it has been divided into single, twin, queen, king, and others. Based on pricing, the economy segment accounted for a market share of 81.27% in 2022 and is expected to exhibit a CAGR of 8.47% during the forecast period.
The major market players are King Koil, Sheela Foam- Sleepwell, Sealy International, Duroflex, Serta Mattress, SlumberCorp, Massindo Group, Peps Industries Pvt Ltd, Emma Sleep India, and The Sleep India.
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