PUBLISHER: SkyQuest | PRODUCT CODE: 1270692
PUBLISHER: SkyQuest | PRODUCT CODE: 1270692
Global Mattress Market size was valued at USD 39.4 billion in 2021 and is poised to grow from USD 41.86 billion in 2022 to USD 67.5 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
A mattress is a fabric casing filled with a resilient material (such as cotton, hair, feathers, foam rubber, or a configuration of coiled springs), whether it is used as a stand-alone bed or on a bedstead. The increase in back problems, which are typically brought on by uncomfortable sleeping surfaces, is likely to have had a substantial impact on the growth of speciality mattresses like airbeds, waterbeds, and foam-based mattresses. 1.71 billion people worldwide suffer from musculoskeletal illnesses, such as rheumatoid arthritis, osteoarthritis, low back pain, neck discomfort, fractures, and other injuries, according to a recent analysis of Global Burden of Disease (GBD) 2019 numbers. At least $50 billion is spent annually on treating back pain, and 80% of Americans will experience back pain at some point in their life, according to study. It is widely used by new hospitals as well as renovated old healthcare institutions to comfort in-patients, out-patients, and carers, which has significantly influenced the demand for such mattresses. During the projected period, this is anticipated to accelerate the expansion of the worldwide mattress market.
The major competitors in the sector are always attempting to develop their products in order to assist the populace in coping with such problems. As an illustration, the Nectar Memory Foam Mattress offers The three main layers of this conventional memory foam mattress are seven inches of supportive foundation foam, two inches of fast adapting foam, and three inches of pressure-relieving gel memory foam. Its 6.5 out of 10 firmness rating designates it as a medium-firm mattress. Memory foam will conform to your body, making it a fantastic choice for someone who likes to sink into their mattress. In addition to relieving pressure, this is beneficial for people who experience joint pain. Due to how efficiently it reduces motion transmission, couples should take it into consideration as well. During the projected period, research and development for enhanced product accessibility will accelerate the expansion of the worldwide mattress market.
Top-down and bottom-up approaches were used to estimate and validate the size of global Mattress Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report
The global mattress market is segmented based on the material, size, application, and region. Based on the material, the global mattress market is segmented as spring/coil, foam, latex, and others. Based on size the global mattress market is segmented into the queen, twin, full, and others. Based on the application, the global mattress market is segmented as households, hospitality facilities, healthcare facilities, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The industry's growth is being fueled by the worldwide housing development boom and rising consumer spending on bedding and home furnishings. Due to the rise in single-occupancy homes and nuclear families worldwide, each family member needs their own room, which drives rising demand for the product. The number of survey respondents who bought the product climbed from 24% to 32% during the preceding six months, according to findings from the National Bed Federation Survey published in March 2020. Also predicted was a 119.8 billion US dollar total for consumer spending on furniture and bedding items in 2021, a 5% rise from 2019.
A large number of individuals around the world have been experiencing severe sleep deprivation and mental anguish, especially during the past 20 years, as a result of fast changing consumer lifestyles, busy schedules, altered eating habits, and a propensity for staying up late. The quality of the things consumers use could significantly improve their sleep. For instance, top mattress maker Serta just debuted the Arctic cooling sleep system, which is their most game-changing invention yet. Due to its 15x stronger cooling power, the Serta Arctic mattress feels up to five degrees colder than the best cooling mattress. A variety of accessories also contribute to all-night cooling comfort.
Restraint
New and potential industry players face obstacles due to a developing and fast changing competitive environment where internationally recognised and local enterprises compete primarily on the basis of product quality and durability. A longer product lifespan is one of the most significant factors influencing consumer purchase decisions in retail stores and online marketplaces globally. The product typically lasts seven to ten years. The expansion of the global mattress market during the predicted period may be hampered by this.
Market Trends
Customizable mattresses have grown in popularity over the past 10 years. Customers who buy these devices can choose from a large selection of pre-set choices, including design, height, firmness, and toppings. Leading industry players have recently introduced cutting-edge products to strengthen their brand names. For instance, Cocoon mattress, the first-ever Mattress in a Box (MIAB) option that allows customers to choose the comfort level of the mattress on their side of the bed, has been introduced by Sheela Foam Ltd.'s Sleepwell, the top mattress brand in India. The mattress offers customization options, enabling customers to simply flip the top two foam layers from soft to firm or vice versa to alter their level of comfort.