Mattress Market: Growing Rapidly with Recent Trends and Forecast

ByPriyanka

The global mattress market size was valued at USD 52.45 billion in 2023. The market is predicted to grow to USD 78.34 billion by 2030, attaining a CAGR of 5.90% during the forecast period.

The increasing desire for personalized and luxurious items reflects a significant change in consumer perspectives on mattresses, transforming them from mere consumer durables into symbols of social status. At a broader scale, the surging presence of local manufacturers providing an extensive array of products is capturing global consumer interest and expanding distribution channels. The successful introduction of innovative products is anticipated to propel the growth of the mattress market in the foreseeable future.

Fortune Business Insights provides this information in its report titled “Mattress Market, 2024-2030.”

Information Source:

https://www.fortunebusinessinsights.com/mattress-market-102108 

Report Coverage:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
  • Comprehensive insights into regional developments.
  • List of major industry players.
  • Key strategies adopted by the market players.
  • Recent industry developments include product launches, partnerships, mergers, and acquisitions.

Segments:

Growing Dominance of Traditional Concepts to Drive Demand for Coil/Spring-based Products

In the material analysis, the market is categorized into foam, spring/coil, latex, and other materials. The spring/coil segment is anticipated to experience a significant growth rate between 2023 and 2030. Users have the option of choosing traditional spring/coil or innerspring products, where metal springs are utilized in the manufacturing process to create a supportive layer, enhancing overall comfort for the users.

Growing Adoption of Spacious Products to Drive Product Sales

Categorized by size, the market includes queen, full, twin, and other mattress sizes.

Queen-sized products stand out as the most favored and widely preferred globally. Offering ample space for two individuals, these mattresses are commonly chosen for master bedrooms. According to a survey, approximately 61% of respondents expressed a preference for sleeping on a queen-size mattress, with the single, double, king, and other sizes following in descending order of popularity.

Growth of International Tourism to Drive Product Sales in Hospitality Facilities

According to the application, the market is fragmented into healthcare facilities, households, hospitality facilities, and others.

The rising number of accommodation establishments globally creates a subsequent product demand in the hospitality facilities category. Due to this, the growth & evolution of hospitality will impact the market positively.

List of Key Players Profiled in the Mattress Market Report:

  • Serta Simmons Bedding, LLC (U.S.)
  • Tempur Sealy International, Inc. (U.S.)
  • Sleep Number Corporation (U.S.)
  • Paramount Bed Holdings Co. Ltd (Japan)
  • Kingsdown, Inc. (U.S.)
  • Grupo Pikolin (Spain)
  • King Koil Mattress. Co (U.S.)
  • Suibao Group (China)
  • Greiner AG (Austria)
  • Sheela Foam Ltd (India)

Drivers & Restraints:

Increasing the Number of Housing Units to Boost Market Expansion

The rising number of housing constructions globally paired with an increasing number of consumer spending on furniture and bedding products. The rising number of single-occupancy homes and inclination towards nuclear families worldwide creates a need for a spacious separate room for every family member across countries hence propelling the product demand and mattress market share.

However, the high circulation of unbranded/ low-cost products, most notably across Asian markets, is hampering the global demand for branded, high-end, and luxury products.

Regional Insights:

Luxury and Premium Quality Products to Propel the Market Growth

The North American market is preferred for luxury and premium quality products. North America appeared as the largest market in 2022. An average North American consumer typically buys a mattress if the existing one doesn’t provide the consumer with a comfort level.

The market in Europe benefits from the rapidly rising travel & tourism industry. In this respect, rising tourism and tourist attractions across European countries facilitate product demand in the hospitality sector.

Asia Pacific is predicted to record the fastest CAGR during the forecast period. The region’s market size is growing to increase housing units across India and China. 

Competitive Landscape:

Market Players Focus on New Product Launches to Strengthen Market Position

Leading market players are trying to expand their market reach by offering solutions tailored to their respective industries. These players strategically collaborate with and take over local competitors to establish a regional foothold. These companies focus on developing innovative products and efficient marketing techniques to gain a wider market share. 

Key Industry Development:

  • February 2023 – Hästens Ltd, a Swedish mattress manufacturer, launched a new line under the drēmər brand. The drēmər mattress, featuring woven fabric upholstery, was launched in four colors: Phantom Charcoal, Natural Shale, Black Shadow, and Traditional Blue.