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The mattress market size is estimated to grow at a CAGR of 9.5% between 2022 and 2027. The market size is forecast to increase by USD 24.93 billion.
This mattress market report extensively covers market segmentation by distribution channel (offline and online), product (innerspring mattress, memory foam mattress, latex mattress, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Effective branding and advertising of mattresses is the key factor driving the growth of the market. Market players promote smart mattress sales through branding and advertising. Such a strategy would allow for increased product penetration and customer base by raising awareness of smart mattresses. The market penetration rate of smart mattresses is low compared to other bedding products. Strategies to promote smart mattresses include digital media marketing and a targeted advertising approach. Providers may also run campaigns, and workshops, or exhibit their products at trade fairs. Such factors are anticipated to propel the growth of the global mattress market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
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, 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 that 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 growing threat from counterfeit mattresses is a challenge that affects the growth of the market. Counterfeit mattresses are made from uncertified raw materials and do not meet the manufacturing standards of legitimate mattress brands. In addition, the counterfeit mattress contains parts of discarded mattresses and basic spring elements with polyester fiber overlays. These products do not comply with mattress flammability regulations. Thus, counterfeit mattresses are much less durable and may pose a greater fire hazard.
Moreover, counterfeit mattresses are sold worldwide by cost-conscious local retailers. The mattresses offered by these retailers contain company names and logos that closely resemble the original mattress variations. Counterfeit mattresses are printed with a suggested retail price label. Counterfeit mattresses are priced very low compared to genuine ones. This may affect the actual mattress variation sales and impede the growth of the market during 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. 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 mattresses, 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 mattresses in the global mattress 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 mattresses. 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.
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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 mattress 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 mattress 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.
Due to the outbreak of COVID-19, the mattress market in APAC was negatively affected in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of supply chain activities and business. In addition, consumers in urban areas such as India and China, where urbanization is increasing, were demanding better sleep quality and comfort. This increases the demand for high-quality and technologically advanced mattresses, which is expected to drive 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 mattress market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Mattress Market Customer Landscape
The mattress 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.
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Mattress Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.5% |
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Market growth 2023-2027 |
USD 24.93 billion |
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Market structure |
USD Fragmented |
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YoY growth 2022-2023(%) |
8.18 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, Canada, China, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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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. |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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