Mattress Market Research Report

 

The GMI Research forecasts that the mattress market is witnessing an upsurge in demand during the forecast period. This is mainly due to the increasing income level and health consciousness, followed by the development of the real estate and hospitality sector.

Top Manufacturers in the Mattress Market:

·        Tempur-Pedic International Inc.

·        Serta Inc.

·        Simmons Bedding Company

·        Spring Air International

·        Select Number Corporation

·        Kingsdown Inc.

·        Southerland Sleep

·        Paramount Bed Co., Ltd.

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Mattress Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The increasing income level and health consciousness, followed by the development of the real estate and hospitality sector, are the major factors contributing to the growth of the global mattress market. Furthermore, the drastically shifting consumer preference towards comfort and functionality of the product will further boost the growth of the mattress market share in terms of revenue. Over the past few years, the major organizations in the market, such as offline and online retailers, are introducing various strategies to provide an enhanced experience to their target audience. There has been an upsurge in demand for customized and luxury mattresses as companies bring new technologies to utilize their resources and technologies.

According to the mattress industry analysis, the private and government sectors are heavily investing in the healthcare sector to improve infrastructure and increase healthcare facilities. For instance, in the Indian government's flagship program of Pradhan Mantri Jan Aarogya Yojana, all the hospitals that come under the Ayushman Bharat scheme will be offered with viability gap funding up to 40% of the total project cost. This factor will raise the demand for more beds and mattresses for government and semi-government hospitals during the forecast period. In addition to this, there has been an increase in back issues due to uncomfortable sleeping surfaces, which will boost the demand for specialty mattresses such as a waterbed, airbed, and foam-based mattresses. The vast availability of various mattress and affordable price ranges is creating numerous growth opportunities for the market. For instance, Serta Inc. introduced the iComfort hybrid mattress with TempActiv cooling technology and a new coil support system, which supports in infusing copper into materials like natural latex. The regular change of mattresses by the hotels and the residential users has helped them to become the largest end-users of mattresses in the commercial segment. The hospitality sector replaces their mattresses in 5-6 years; however, the residential user changes their mattresses in maximum 9-10 years. For instance, King Koil provides mattresses to premium hotels, including Westin Hotels & Resorts, Le Meridien, and Hyatt Regency. All these factors are propelling the growth of the mattress market size during the forecast period.

Regional Drivers

Based on the region, Asia-Pacific is expected to dominate the market during the forecast period due to the growing demand for the innerspring and latex mattress segment in Asian countries. The APAC region is the largest consumer of mattresses owing to the rising population rate in economies such as India, Sri Lanka, and Chia. On the other hand, the Europe region is anticipated to grow at a higher CAGR during the forecast period due to the rapid shift in the consumer's preference towards large houses and the increasing preference for various bedrooms. Additionally, the rising demand for mattresses in the healthcare and hospitality sector in this region is accelerating market growth.

Mattress Market Segmentation:

Segmentation by Product:

·        Innerspring

·        Latex

·        Memory Foam

·        Others

Segmentation by Application:

·        Domestic

·        Commercial

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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