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The global mattress market is projected to reach a value of over USD 68.32 billion in 2027, at a CAGR of 9.5% between 2022 and 2027. Memory foams are gaining popularity due to their ability to conform to the shape of the body. Online sales have been on the rise, with many consumers preferring the convenience of ordering online.
Analysis Period | 2017-2027 |
Market Size (2017) Historic Year | USD 35.61 billion |
Market Size (2027) - Forecasted Year | USD 68.32 billion |
Historic Opportunity (2017-2021) | USD 4.74 billion |
Historic CAGR | 3.17 % |
Forecasted Opportunity (2023-2027) | USD 24.93 billion |
Market Opportunity Transformation Growth | 91.86 % |
Market Opportunity Capitalization | USD 29.67 billion |
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Market trends and analysis indicate a surge in demand, driven by evolving consumer preferences. The industry's growth is evident in market analysis and reports, providing insights into trends shaping the future. With robust market growth and forecasting, manufacturers navigate evolving consumer needs, ensuring innovative offerings align with the ever-changing landscape of sleep preferences.
This market research and growth report includes a holistic approach to drivers, trends, and challenges which will help the companies strategize and take the necessary steps to stay ahead of the competitors.
Effective branding and advertising play pivotal roles in propelling market growth and trends. Market players strategically boost smart mattress sales through branding efforts, aiming to increase product penetration and expand their customer base by enhancing awareness. Smart beddings currently have a lower market penetration rate compared to other bedding products. Strategies for promoting smart mattresses involve digital media marketing, targeted advertising, campaigns, workshops, and product exhibitions at trade fairs. These initiatives are expected to drive the global market's growth in the forecast period.
The growing need for multifunctional beds is the primary trend in the market. A multifunctional bed that can be used as a reclining chair, sofa, or massage chair. Some of the latest smart and versatile mattresses feature innovative entertainment features such as high-definition home theaters, sliding screens at the foot of the bed box, advanced sound systems, and video game platforms. Smart beds also make it easier to track users' health by monitoring how long they sleep, air quality, temperature, and humidity.
Moreover, a multifunctional bed is useful for lack of storage space and effective use of space. The high flexibility and adaptability of such beds contribute to their popularity. This may increase the demand for mattresses that fit multifunctional beds. Hence, such factors are expected to propel the growth of the global mattress market during the forecast period.
The market faces a significant challenge from the rise of counterfeit products. These unauthorized items, crafted from uncertified materials, fail to meet manufacturing standards upheld by legitimate brands. Counterfeit versions often incorporate discarded mattress components and basic spring elements with polyester fiber overlays, disregarding flammability regulations.
Widely distributed by budget-conscious local retailers, these knock-offs closely mimic genuine products, featuring similar logos and labels. Priced significantly lower than authentic alternatives, the prevalence of counterfeit goods may hinder genuine product sales and impede market growth in the forecast period.
The Innerspring mattresses are one of the most popular mattress types in the market. One of the key reasons for the wide acceptance of Innerspring mattresses is their affordability. Kingsdown, Tempur Sealy International, Saatva, and Serta Simmons Bedding are some of the best-known suppliers of Innerspring mattresses. Such mattresses have a cost advantage. Owing to such advantages, the innerspring mattress segment in the market is expected to witness steady growth during the forecast period.
A memory foam mattress consists of a viscoelastic memory foam core as a supporting structure which is perfect for medical or hospital purposes. Memory foam mattresses provide users with comfort, counter support, and spinal support. Different types of memory foam mattresses available in the market include traditional memory foam mattresses, air-cooled memory foam bedding, gel-cooled memory foam mattresses, and more. European countries such as France, Holland, and Sweden have a higher demand for memory foam mattresses than other regions. Therefore, such factors will drive the growth of memory foam bedding in the global market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Offline sales channels include brick-and-mortar stores that offer mattresses and are a popular channel for purchasing such home care products. These include specialty stores, hypermarkets, supermarkets, and department stores. Specialty stores include company-owned stores, franchise stores, and third-party retailers. The specialty retail format is the most profitable of all other retail formats in the global mattress market.
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The offline segment was valued at USD 30.75 billion in 2017 and continued to grow until 2021. To operate an offline channel, providers and retailers need to have stores in suitable locations. In addition, purchasers can receive personalized advice based on their sleep habits, preferences, and specific health concerns. Some players are also focusing on expanding their offline retail presence. Retail stores include franchise stores and multi-brand stores. While online selling offers convenience and choice, offline retail offers a personal experience, instant inventory, and personal attention that appeal to many shoppers. Therefore, factors such as instant availability and the ability to try products before purchasing will drive the growth of the offline segment during the forecast period.
Online distribution has become an important channel for buying and selling mattresses. The increasing popularity of the Internet and the rising number of smartphone users around the world have raised the preference for online shopping. A wide range of home care products are available online in different categories, price ranges, and brands. Popular online retailers such as Amazon.com and Alibaba Group offer many options in home care product categories such as Mattress Brands. Market players such as Casper Sleep Inc. and Kurlon Enterprise Ltd. each have their own web portals that allow consumers to try out a wide range of home care products, such as mattresses, which will drive the growth of the online segment in the market during the forecast period.
Mattresses come in various types and materials, catering to diverse customer preferences. The queen-sized bedding, a popular choice, reflects the growing demand for spacious sleep solutions. Despite pandemic challenges, the furniture industry has witnessed remarkable growth, with people increasingly prioritizing comfort. Manufacturers now offer a range of options, considering factors like prices and result-oriented designs. Memory foam, Latex Mattresses, innerspring, and hybrid beddings are prominent choices. Customers often place orders based on individual needs, seeking the perfect blend of support and softness. Additionally, the right pillow plays a crucial role in enhancing sleep quality, making the Mattress Sizes selection process integral to overall well-being.
Mattresses come in various types and materials, catering to diverse customer preferences. The queen-sized bedding, a popular choice, reflects the growing demand for spacious sleep solutions. Despite pandemic challenges, the furniture industry has witnessed remarkable growth, with people increasingly prioritizing comfort. Manufacturers now offer a range of options, considering factors like prices and result-oriented designs. Memory foam, latex, innerspring, and hybrid beddings are prominent choices. Customers often place orders based on individual needs, seeking the perfect blend of support and softness. Additionally, the right pillow plays a crucial role in enhancing sleep quality, making the mattress selection process integral to overall well-being.
The Mattress Market is experiencing a revolution driven by advancements in sleep comfort and technology. Consumers are increasingly focused on sleep health, seeking mattresses that offer both support and relaxation. From traditional spring mattresses to innovative latex and memory foam options, the market offers a wide array of mattress materials to cater to diverse preferences and needs.
Sleep technology has also made significant strides, with features like cooling technology and adjustable beds enhancing the sleep experience. Bedroom furniture and bedding accessories complement the mattress, creating a holistic sleep environment conducive to restful nights.
Orthopedic mattresses address specific sleep issues, providing targeted support for spine alignment and pressure relief. Sustainability is another growing trend, with eco-conscious consumers opting for mattresses made from natural and organic materials.
As the mattress market continues to evolve, luxury brands are introducing premium offerings that combine style, comfort, and durability. With a focus on sleep support and innovation, the mattress industry is poised for continued growth and innovation in the years ahead.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as India, China, and Japan contribute the most to the growth of the regional market in terms of revenue. Rising smartphone penetration and internet penetration in APAC have allowed players to leverage the emerging online infrastructure using aggressive advertising and branding strategies.
Moreover, the entry of global retailers such as Inter-IKEA Group (IKEA) and Walmart is driving the overall home furnishings retail market, including the market in the region. Market players establish production units and distribution channels to save costs on raw materials, labor, and logistics support. A wide range of global players and developed distribution networks have raised the penetration of mattresses in APAC, which is expected to fuel market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Size and Dimensions Guide
Navigating the bedding industry involves considering size and dimensions, ensuring a perfect fit for customer needs. A comprehensive guide includes information on warranties, toppers, adjustable frames, and even delivery options. Exploring a showroom helps customers make informed choices in the dynamic bedding market while factoring in warranty terms for long-term satisfaction.
Firmness and Support Levels
Customers prioritize firmness and support levels when selecting a sleeping solution, especially in queen size. The pandemic has amplified the importance of quality sleep. Manufacturers respond by offering diverse options to meet individual preferences, considering growth rates and people's changing needs. Prices reflect the value of enhanced sleep, making it a key investment alongside complementary accessories like pillows.
Sleep Preferences and Mattress Selection
Navigating the bedding industry involves considering sleep preferences. Customers prioritize factors like warranty, topper options, and adjustable frames. The journey begins in a showroom, where experts guide decisions. Seamless delivery, complemented by quality packaging, ensures satisfaction. Evolving with the dynamic bedding market, selection is an art, blending personal comfort preferences with the latest industry innovations.
Pricing and Budget Considerations
Pricing and budget considerations are integral in the selection process. Customers navigate a spectrum of options, balancing quality with affordability. Understanding that a good night's sleep is an investment, individuals weigh features against budget constraints, ensuring a harmonious blend of value and financial prudence in their purchase decisions.
Online vs Brick-and-Mortar Mattress Shopping
Choosing between online and brick-and-mortar shopping involves considering preferences and customer convenience. The pandemic accelerated the online growth rate, emphasizing the ease of ordering from home. Traditional stores offer in-person experiences, allowing people to test products, feel textures, and explore furniture options, influencing decisions based on comfort, price, and pillow pairings.
Mattress Durability and Longevity
Durability is paramount for long-term comfort. Quality materials and construction contribute to longevity. Regular maintenance and proper support enhance a product's lifespan. Considering durability in a purchase ensures sustained support, making it a wise investment for uninterrupted, restful experiences over the years.
Customer Reviews and Ratings
Customer reviews and ratings provide crucial insights into product quality, helping people make informed decisions. When evaluating options, customers consider durability, comfort, and overall satisfaction. Real experiences shared online aid in navigating the plethora of choices, ensuring a well-informed purchase based on peer perspectives and the desired balance of price and durability.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.5% |
Market growth 2023-2027 |
USD 24.93 billion |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
8.18 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bedbuyer Pty Ltd., Brooklyn Bedding, Casper Sleep Inc., CVB Inc., Eight Sleep Inc., Englander Sleep Products, King Koil Licensing Co. Inc., Kingsdown Inc., Kurlon Enterprise Ltd., Layla Sleep Inc., PARAMOUNT BED HOLDINGS Co. Ltd., Puffy LLC, Relyon Group Ltd., Saatva Inc., Serta Simmons Bedding LLC, Sheela Foam Ltd., Sleep Country Canada Holdings Inc., Sleep Number Corp., Southerland Sleep, and Tempur Sealy International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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