Mattress Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, India, Germany - Size and Forecast 2023-2027

Mattress Market Forecast 2023-2027

The global mattress market is projected to reach a value of over USD 24.93 billion at a CAGR of 9.5% between 2022 and 2027. The market is experiencing a surge in demand, attributed to the increasing popularity of memory foams known for their remarkable ability to conform to the body's shape, providing personalized comfort and support. With the growing preference for online shopping, there has been a notable rise in online sales of mattresses, driven by consumers seeking convenience and accessibility. This trend underscores a significant shift in consumer behavior towards e-commerce platforms for purchasing mattresses, reflecting the evolving landscape of the global mattress market. This market research and growth report also includes key drivers, trends, and challenges during the forecast period.  

Overview of the Mattress Market

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The market is witnessing significant growth driven by various factors, including the expanding consumer base and the rising demand for bedding products across residential and commercial sectors such as the healthcare and hospitality industries. Innovative technologies like roll-pack technology, as employed by companies like Wakefit, are revolutionizing the market by offering convenient shipping and enhanced product quality. Hypermarkets and e-commerce furnishing sites play a crucial role in amplifying market accessibility and catering to diverse consumer needs. Additionally, the integration of mattresses into home furnishings is reshaping the dynamics of the global mattress market, meeting the evolving demands of modern consumers in the real estate and household furniture segments. 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.

Market Dynamics

The market is thriving, with significant contributions from the real estate sector and the residential segment. As the e-commerce sector expands, consumers have easy access to a wide range of mattresses, including memory foam, latex, smart, innerspring, and hybrid varieties. Both offline and online distribution channels, along with specialty stores and hypermarkets, cater to the diverse needs of consumers worldwide. Innovative technologies like roll-pack technology, exemplified by brands like Wakefit, are gaining traction. With applications extending from household to commercial end-use segments, including luxury hotels and healthcare facilities, the mattress market continues to witness steady growth, meeting evolving consumer preferences in home furnishings and bedding products. 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.

Key Market Driver

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.

Significant Market Trends

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. 

Major Market Challenge 

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.

Customer Landscape

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

Market Segmentation

In the market, the distribution channel segment encompasses various channels catering to both residential and commercial end-use segments. The real estate sector plays a crucial role in the distribution of mattresses, particularly in the residential segment. Real estate developers and agents often collaborate with mattress manufacturers to offer bundled deals or promotional offers to new homeowners. E-commerce has emerged as a significant distribution channel, providing consumers with convenience and a wide range of options. Consumers can browse through various types of mattresses, including memory foam and latex mattresses, and make purchases online from the comfort of their homes. Luxury hotels also serve as distribution channels, as they frequently source high-quality mattresses for their guests' comfort. These hotels often partner directly with manufacturers to procure mattresses tailored to their specific requirements and brand standards. Manufacturers themselves play a vital role in distribution, distributing their products through both offline and online channels. They may have their retail outlets, showrooms, or authorized dealerships to reach consumers directly. Additionally, manufacturers leverage online distribution channels to reach a broader audience and cater to the growing trend of online mattress shopping. Both offline and online distribution channels offer a variety of mattress sizes, including queen size and king size mattresses, to meet different consumer preferences and needs. In summary, the distribution channel segment of the market encompasses a diverse range of channels, including real estate, e-commerce, luxury hotels, and manufacturer-led distribution channels, catering to both residential and commercial end-use segments.

By Distribution Channel

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.

Key Regions for the Mattress Market 

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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. 

Popular Brands and Manufacturers

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.

• Key Offering- Southerland Sleep: The company offers mattresses such as Signature, Signature Gel, and Signature hybrid mattresses.

The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• 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.
• Puffy LLC
• Relyon Group Ltd.
• Saatva Inc.
• Serta Simmons Bedding LLC
• Sheela Foam Ltd.
• Sleep Country Canada Holdings Inc.
• Sleep Number Corp.

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.

Market Analyst Overview

In the dynamic landscape of the global market, various sectors are driving growth. The real estate sector, particularly the residential segment, plays a significant role as it influences mattress demand. Additionally, the e-commerce sector, with its luxury hotels and diverse range of enterprises, has become a prominent distribution channel. Smart mattresses, including memory foam options like those from Wakefit, cater to evolving consumer needs. Both offline and online distribution channels are crucial in reaching the expansive consumer base. Moreover, the commercial end-use segment, spanning the healthcare industry and hospitality industry, underscores the market's diversity. With innovations such as roll-pack technology and a focus on household and commercial furnishings, the mattress market continues to thrive.

In the market, the Federal Reserve Bank of New York and its economic indicators influence consumer spending patterns, including investments in household essentials like the Memory foam mattress. These mattresses come in various sizes, catering to different needs, from Queen size mattresses to king size mattresses options. They are essential in the household end-use segment, alongside complementary products like pillows and bed linen. The real estate industry and residential needs also drive mattress demand, while the healthcare industry and hospitality industry have unique requirements for quality mattresses. Additionally, offline distribution channels and e-commerce furnishing sites play vital roles in making mattresses accessible to consumers worldwide, ensuring comfort and quality in household furniture.

In the market, there is a growing demand from hospitals for specialty mattresses designed to address back disorders and provide comfort to in-patients and out-patients alike. These mattresses include airbeds, waterbeds, and foam-based options, with a focus on orthopedic and memory foam mattresses for their health benefits and ability to promote sound sleep. As new hospitals emerge and existing ones undergo renovation, the demand for quality mattresses rises. This trend extends beyond healthcare to interior design and living spaces, catering to the needs of working-class families. Manufacturers, including small-scale producers and commercial factory-made brands, contribute to the market's cumulative growth, offering a diverse range of options for consumers worldwide.

Segment Overview

The market analysis and 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. 

• Distribution Channel Outlook 
  • Offline
  • Online

• Product Outlook 
  • Innerspring 
  • Memory foam 
  • Latex
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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 market 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of  market companies

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