Status : Published | Published On : Dec, 2022 | Report Code : VRCG7042 | Industry : Consumer Goods | Available Format :
![]() |
Page : 165 |
Industry Overview
The Global Mettress Market valued at USD 48.6 Billion in 2022, the market is expected to reach 78.3 Billion by 2030 with a growth of CAGR 6.7% during the forcsted period. The factors responsible for the growth of mattresses across the globe are increasing homeownership rate, increasing number of households with more bedrooms, and increasing disposable income.
Market Segmentation
Insight by Product
Based on product, the global mattress market is categorized into innerspring, memory foam, latex, and others. In 2022, the innerspring mattress segment dominated the mattress market. The high market share of innerspring mattresses is due to the low price, as compared to speciality mattresses. However, the price of innerspring mattresses varies depending on several factors, such as the number of coils, size, and the material used.
However, its share is expected to decline during the forecast period, due to the growing popularity of certain speciality mattresses.
Insight by Size
On the basis of size, the global mattress market is categorized into single-size mattresses, double-size mattresses, queen-size mattresses, and king-size mattresses. During the forecast period, the queen-size mattress segment is expected to be the largest among all the segments. The major factor driving the growth of the queen-size mattress market is the increasing demand for queen-size mattresses around the globe as it provides standard space for two and doesn’t take up much space in the room, which is essential for smaller bedrooms.
Insight by End-Use
On the basis of end-use, the global mattress market is categorized into residential and commercial. During the forecast period, the residential category is expected to be the faster-growing category. The major factor driving the growth of this category is the growing disposable income of middle-class families, due to which residential end users’ spending on mattresses is increasing worldwide.
Scope of the Report
Report Metric |
Details |
Market Size Available for the Years in the Study |
2015–2030 |
Historical Period |
2018–2021 |
Base Year |
2021 |
Forecast Period |
2022–2030 |
Segments Covered in the Study |
Product, Size, End Use, and Region |
Geographies Covered in the Study |
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and the Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.) |
Companies Covered in the Study |
Spring Air International, Kingsdown Inc., Sleep Number Corporation, Simmons Bedding Company LLC, Tempur Sealy International Inc., Serta Inc., Relyon Limited, Southerland Inc., Corsicana Mattress Company, and McRoskey Mattress Company |
Industry Dynamics
Growth Drivers
The primary factors driving the growth of the global mattress market are:
• Growing disposable income
• Growing awareness among the people about the detrimental effects of chemical-based mattresses
• Increasing homeownership rate
• Increasing number of households with more bedroom
The growing homeownership rate as a result of the increasing population and growing numbers of nuclear families has been increasing demand for the mattress market globally. The increasing migration of people from rural to urban areas, mainly in the Middle East and Asia-Pacific regions is also propelling the demand for mattresses. The growing property prices have made homeownership one of the factors of social recognition in highly populated countries, such as India. The governments in several countries have also considered homeownership as an important policy goal, and consequently, they incentivize it by creating mortgage interest payments (a deductible expense for the purposes of income tax).
Challenges
Volatile prices of petroleum and steel-based raw materials, and the high cost of mattresses may hinder the growth of the global mattress market.
Opportunities
• Increasing number of health-conscious consumers
• Growing demand for eco-friendly mattresses
Geographic Overview
Geographically, Asia-Pacific is the largest revenue contributor in the mattress market. The increasing population, surging urbanization levels and growing disposable income in the region are the key factors responsible for its growth. The rapidly growing healthcare and hospitality industries in China have been further propelling the demand for mattresses in the region. The government is also giving subsidies to nursing homes for the installation of new beds. For instance, the government in Beijing gives $8,050 in subsidies per bed. These statistics and government measures indicate the growing deficit between the demand and need for facilities in the healthcare sector in the country. This deficit has been emerging as an opportunity for the mattress market in the country.
India is one of the fastest-growing economies in Asia-Pacific, owing to its increasing manufacturing and services industry. However, a large part of the mattress industry is constituted by unorganized companies. A large part of the population in India sleeps on handmade low-end cotton and foam-stuffed mattresses. However, the growing hospitality industry in the country is escalating the demand for mattresses from organized sectors. The increasing urbanization is also increasing the concern among consumers to use good quality mattresses for healthy living. The consumer expenditure on sleeping products in India has grown multifold over the past few years.
Competitive Insight
Key players operating in the global mattress market include Spring Air International, Kingsdown Inc., Sleep Number Corporation, Simmons Bedding Company LLC, Tempur Sealy International Inc., Serta Inc., Relyon Limited, Southerland Inc., Corsicana Mattress Company, and McRoskey Mattress Company.
Forecast Parameters
• Identifying variables and establishing market impact.
• Establishing market trends regionally.
• Analyzing opportunities and market penetration rates by understanding product commercialization, and regional expansion.
• Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
• Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
• Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trends.
• Understanding adoption, development, distribution and regulatory framework.
Data Validation
• Estimated and forecasted data was validated through industry experts.
• Apart from industry experts, data triangulation methods were used for validation.
• Bottom-up and top-down approach has been used for the estimation and forecast of market data, whereas the top-down approach was used for validation.
• Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.
Research Phases
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end-user surveys comprising consumers are also conducted to understand consumer behaviour.
The Mattress Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
Mattress Market