Mattress Market Size Worth USD 68.1 Billion by 2030 at 7.9% CAGR - Report by Market Research Future (MRFR)

New York, US, March 14, 2023 (GLOBE NEWSWIRE) -- Mattress Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), Mattress Market Information By Type, End User, And Region - Forecast till 2030"; the market will reach USD 68.1 Billion by 2030 at a 7.9% CAGR.

Market Synopsis

Mattresses are those materials that are intended to be used for sleeping. Mattresses are created from various materials and come in various sizes, depending on the need. A quilted or similarly secured case, typically made of heavy fabric and containing materials like straw, foam rubber, hair, cotton, or a structure of metal springs, may be found in mattresses. Over the past ten years, customizable mattresses have become a major fashion trend. Customers who purchase these devices can access various predefined alternatives, including toppers, design, height, and stiffness options. Leading industry players have recently launched cutting-edge products to build a stronger brand name. By introducing mattress substitutes, vendors increasingly focus on expanding their product offerings.

They are introducing new goods into the global mattress market to boost sales and grow their market share. Because it works with various adjustable beds, foam is the product category with the fastest growth. This makes it a popular option for consumers. Home furnishings sales, including those of mattresses, pillows, and other bed linen products, have increased due to rising product demand from the real estate industry to meet the needs of the residential market. There are enormous prospects for the mattress business to expand due to consumers' rising interest in and attention to safe and hygienic sleeping practices. Thermal, spring coils, polyurethane foam, and other materials make these mattresses. As a result of advancements made in the manufacturing process, several mattress manufacturers are infusing their products with materials like aluminum and copper.

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Report Scope:

Market Competitive Landscape:

The vital companies in the mattress market are:

• Tempur Sealy International Inc.
• Relyon Ltd
• Kingsdown Inc.
• Sleep Number Corporation
• Serta Simmons Bedding LLC
• Southerland Inc.

Market U.S.P. Covered:

Market Drivers:

Mattresses are now perceived by consumers as more than just consumer durables and as a sign of social status, as evidenced by the growing desire for luxury and personalized goods on a global scale. Global consumer foot traffic is driven by the mushrooming rise of domestic players delivering unique items at a macro level. Throughout the forecast period, the market's growth rate is anticipated to be driven by the rising demand for hybrid mattresses. A hybrid mattress contains spring layers underneath and a comfort layer on top. Latex, polyfoam, cooling gel, and memory foam are all in the comfort layer. Successful new product introductions are expected to increase sales volumes over the next few years dramatically. The increase in residential building projects worldwide and increased consumer expenditure on bedding and home furnishings are fueling the expansion of the global market.

The requirement for a private space for each family member across nations is fueled by the rise in single-occupancy dwellings and nuclear families, which increases demand for the product. Future generations now frequently experience lifestyle inflation, and costs have steadily increased with income growth. Other reasons boosting the demand for the product and creating enormous prospects for expanding the mattress market are the increasing adoption of contemporary lifestyles and the rise in disposable income worldwide. The quality of sleeping mattress materials is becoming more and more known to consumers. Producers are using new materials and cutting-edge technology to give consumers better sleep. Due to the rising demand for organic and natural mattresses, businesses are concentrating on employing these resources to create mattresses. To enhance sales, businesses must prioritize using internet channels.

Browse In-depth Market Research Report (151 Pages) on Mattress:

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Market Restraints:

The cost of latex mattresses was higher than that of other mattress kinds. Hence, manufacturers are constantly under pressure to reduce costs while still providing premium and quality products to increase their sales volume and contribution to overall income. A developing and quickly shifting competitive landscape, where internationally renowned and domestic companies compete primarily based on product quality and durability, presents challenges to fresh and potential industry players. One of the most important elements influencing customer purchasing decisions worldwide in offline and online marketplaces is a longer product lifespan.

COVID 19 Analysis

Mattress demand has been lower than anticipated in all regions compared to pre-epidemic levels due to the unprecedented and disastrous COVID-19 pandemic. The COVID-19 epidemic, however, has affected market expansion. The COVID-19 pandemic has considerably impacted the expansion of the worldwide mattress market. Despite decreased demand for pricey sleep products, the unprecedented epidemic caused manufacturers to postpone new introductions and reduce expenses. Diversification of product offers and pricing, investments in cutting-edge technologies, and customized marketing efforts are examples of brand recovery tactics. Both domestic and foreign brands can benefit greatly from the business prospects that the COVID-19 pandemic has produced. Online sales are still strong despite the COVID-19 situation, despite the impact on offline sales. The outbreak made many hesitant to leave their houses. Consequently, the e-commerce industry has expanded, and companies are developing creative strategies to let clients buy mattresses from the comfort of their homes.

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Market Segmentation

By end user, the market includes residential and commercial. By type, the market includes memory foam, hybrid, innerspring, gel-filled, and latex.

Regional Insights

A substantial consumer predilection distinguishes the market in North America for luxury and high-end goods. Many studies indicate that the typical North American customer usually purchases a new one if the current mattress does not provide the expected comfort level. Many firms have concentrated on launching new items across distribution channels to enhance their market share. Asia-Pacific controlled the market globally and generated the largest portion of total revenue. The regional market is expected to grow at the fastest CAGR to maintain its leadership during the forecast period. The significant expansion of the home textile industry in nations like India, China, and Japan has led to an abundance of bedding textiles being available. In turn, this has increased product use in the household and commercial sectors. The tourism and travel sector are expanding quickly, which is good for the European market. Many tourist destinations throughout Europe are helping to facilitate product circulation in the hotel industry.

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