Increasing disposable income of people around the globe has improved their standard of living, which creates a demand for comfort and convenience. Thus, there is a demand for luxury furnishing, including mattresses. The rising investment on real estate construction in developing countries like India, to cater to the resultant urbanisation and growing residential demand, drives the market of home furnishing. The trend towards the demand of smart mattress further owes to the growth of the mattress market. Modern lifestyle has squeezed the time that can be utilised for a good night sleep.
As a result of this many companies have come up with product innovations, including smart mattress that incorporates sensors to provide information about the quality of sleep, to keep a track on sleep patterns and in some cases, actively improve the sleep, as well. Global Mattress market report provides analysis for the period 2014-2024, wherein the period from 2018 to 2024 is the forecast period and 2017 as base year.
The market study reveals that the global mattress market is expected to grow over a CAGR of 7% during 2018-2025 in terms of value & over a CAGR of 4% in terms of volume. The market is expected to reach around USD 50,000 Million by 2024. This growth is driven by a number of reasons such as, growing demand from the hotel industry that is significantly increased due to the demand for tour and travel across the globe.
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The market overview section of the report demonstrates market dynamics such as drivers and restraints that talks about the current nature and future scenario of the said market, key market indicators, and raw material analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of the global mattress market. Furthermore, various analysis methods like Porter’s, Pestle are also included in the report to provide an in-depth view of the market scenario.
GLOBAL MATTRESS MARKET: SCOPE OF THE REPORT
On the basis of the type of product type, the market is segmented into Memory Foam, Innerspring, and Latex & Other mattresses. Based on the size of Mattress, the market is segmented into Twin or Single, Twin XL, Full or Double, Queen, King & Other sizes. Further, the market is bifurcated, based on distribution channel into Online & Offline channel. The market is also segmented on the basis of application into Residential, Commercial & Industrial. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa and Latin America along with the qualitative analysis for market estimates that boosts the growth of the global mattress market during the forecast period.
The report also highlights the competitive landscape of the global mattress market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products, technology landscape, and financial highlights.
GLOBAL MATTRESS MARKET: KEY STAKEHOLDERS
Simmons Bedding Company LLC
• Serta Inc.
• Sealy Corporation
• Tempur-Pedic International, Inc.
• Kingsdown, Inc.
• Paramount Bed Holdings Co., Ltd.
GLOBAL MATTRESS MARKET: KEY FINDINGS OF THE REPORT
According to Planet Market Reports, the key findings of the report “Global Mattress Market Size, Share, Development, Growth and Demand Forecast to 2024” are:
The demand for the global mattress market is expected to grow a significant rate, during forecast period. Mattress is witnessing tremendous growth due to factors such as rise in income and globalization. Thus, the people across the world are more interested in tours and travels than before, creating a large-scale demand for mattress from hotel industries. Global Mattress market is expected to grow over a CAGR of 7% & 4% by value and volume respectively, during the forecast period, 2018-2024
Innerspring Mattress is the largest revenue contributor, in terms of value and volume, as compared to other product types. It is expected to grow with CAGR over 5% by value and over 2% by volume during the forecast period, 2018-2024
Global Mattress market from various applications is estimated to grow with a CAGR over 7% during the period of 2018-2024 with the Commercial sector being the highest revenue contributor
Asia Pacific is the fastest growing region in the Mattress market and is expected to propel with a CAGR over 9% by value and with a CAGR over 6% by volume during the forecast period, 2018-2024 with India is the fastest growing market having a CAGR over 12% and expected to reach a revenue of around USD 3,000 million by the end of 2024
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GLOBAL MATTRESS MARKET: COMPETITIVE DYNAMICS
The global Mattress market is dominated by a number of players in the market, amongst them the major players are Simmons Bedding Company LLC, Serta Inc., Sealy Corporation, Tempur-Pedic International, Inc., etc. Companies in this industry are following different strategies to strengthen their market position. For instance, in July, 2018, Tempur-Pedic International, Inc., announced the launch of its luxury series of mattress, under the brand name Tempur-Pedic LuxeAdapt™, that is offered at retail stores at a price of USD 3,999 and will be unveiled in the product in the showrooms of Las Vegas and is expected to begin shipping later this year.
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