Newark, Aug. 08, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global mattress market is projected to grow from USD 43.81 billion in 2022 to USD 84.74 billion By 2032, at a CAGR of 6.82% during the forecast period 2023-2032.
Mattresses are sleep pads designed to provide comfort during rest/sleep. They come in various sizes to cater to different needs. Manufacturing involves diverse materials, and the mattresses may feature quilted or securely fastened covers made from heavy fabrics like foam rubber, hair, straw, cotton, or metal springs. Some mattresses are even filled with water or air. The primary role of mattresses is to offer proper support and comfort to the body, ensuring the spine maintains a neutral position, thus facilitating restful sleep. They play a crucial part in achieving sufficient, high-quality sleep, promoting good posture, and supporting overall physical and mental well-being. Mattresses are integral to maintaining sound mental and emotional health.
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Competitive Strategy
To boost their market situation in the global mattress market, the prominent industry players aim to take the approaches such as mergers & acquisitions, collaborations, partnerships, joint ventures, product innovations, and recent developments.
• In March 2023: VFI Group revealed its partnership with US-based Serta Simmons Bedding to establish two manufacturing units dedicated to producing high-end luxury mattresses for the Indian market. By teaming up with Serta Simmons Bedding, the VFI Group's objective is to capture the attention of India's upscale customer segment and achieve a revenue of USD 9.76 million by 2026. This collaborative venture aims to introduce top-tier luxurious mattresses to the Indian market, meeting the escalating demand for premium sleep products.
• In January 2023: Kingsdown, Inc., one of the leading luxury bedding manufacturers, launched "Blue Zone" mattresses for the earth's Blue Zones. The new collection features four mattresses that signify the next level of sustainability. The concept of Blue Zones revolves around communities worldwide where people adopt a holistic lifestyle to live longer, happier, and healthier lives by harmonizing with nature's resources. Drawing from the essence of Nicoya, Costa Rica, one of the renowned Blue Zones, known for the "Pura Vida" way of life, this mattress design embodies sustainability. The mattress cover utilizes TENCEL branded lyocell and modal fibres sourced from environmentally responsible processes and sustainably derived natural raw materials. The border weave uses Repreve, an eco-performance fibre crafted from recycled bottles, boasting cotton-like comfort, moisture-wicking properties, and a cooling touch. An innovative element of this mattress is the layer of Orbis foam, crafted from recycled mattress polyols. The production of Orbis aids in responsible resource stewardship by reducing mattress waste sent to landfills. These mattresses include a latex layer, natural soy-based foam using water-based adhesives, and ecologically sourced wood for the base box. Introducing centi(GR)ade graphene strips is a crucial technical comfort component in the Blue Zone collection. These revolutionary strips naturally dissipate body heat, ensuring a cooler and healthier sleep experience on a foam mattress. The Blue Zone collection showcases Kingsdown's commitment to sustainability, comfort, and innovative design, creating a mattress that aligns with the planet's well-being and the customer's sleep quality.
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Market Growth & Trends
The growing focus on health and wellness has led consumers to prioritize investing in mattresses that provide orthopaedic support, alleviate back pain, and cater to specific health needs. Additionally, ongoing innovations in mattress materials and construction techniques have developed advanced products, such as memory foam, hybrid mattresses, and adjustable beds. The hospitality sector, including hotels and resorts, requires new, comfortable mattresses to ensure a positive guest experience. Furthermore, there is an increasing demand for eco-friendly and organic mattresses, with consumers showing greater interest in sustainable and environmentally responsible products. Besides, mattress manufacturers have embraced sleep technology, offering innovative mattresses with features like sleep tracking, adjustable firmness, and temperature regulation. Many mattress manufacturers and retailers are implementing mattress recycling programs to address the issue of mattress waste and promote sustainability.
Key Findings
• In 2022, the foam mattresses segment accounted for the largest market share, with 45.28% and a market revenue of USD 19.84 billion.
The type segment is classified into foam mattresses, hybrid mattresses, innerspring mattresses and others. In 2022, the foam mattresses segment accounted for the largest market share, with 45.28% and a market revenue of USD 19.84 billion.
• In 2022, the queen segment dominated the market with the largest share of 47.21% and a market revenue of USD 20.68 billion.
The size segment includes double, king, single and queen. In 2022, the queen segment dominated the market with the largest share of 47.21% and a market revenue of USD 20.68 billion.
• In 2022, the household segment registered the highest market share of 81.35% and a market revenue of USD 35.67 billion.
The application segment includes commercial and household. In 2022, the household segment registered the highest market share of 81.35% and a market revenue of USD 35.67 billion.
• In 2022, the offline segment dominated the market with the largest share of 69.52% and a market revenue of USD 30.46 billion.
The distribution channel segment includes online and offline. In 2022, the offline segment dominated the market with the largest share of 69.52% and a market revenue of USD 30.46 billion.
Key Findings
Regional Segment Analysis of the Mattress Market
• North America (U.S., Mexico, Canada)
• Europe (Germany, Italy, France, Spain, U.K., Rest of Europe)
• Asia-Pacific (India, China, Japan, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region registered the largest market share, with 41.67% revenue in 2022 and market revenue of USD 18.26 billion. Asia Pacific is anticipated to grow fastest over the forecast period.
The region's expanding middle-class population drives demand for lifestyle upgrades, including better sleep experiences. As consumers seek more comfortable and luxurious living, they are willing to invest in higher-end mattresses. The mattress industry in the Asia Pacific region has embraced technological advancements and innovation. Manufacturers in countries like China, India, South Korea, and Japan have quickly adopted new materials, construction techniques, and sleep technology in their mattress offerings. In addition, the rise of e-commerce platforms and the development of a robust retail infrastructure have made it easier for mattress companies in the region to reach a broader customer base. Consumers can now explore and purchase mattresses conveniently online or in physical stores.
The Europe region is expected to witness the second fastest growth rate during the forecast period. Europe is a significant tourist destination with a thriving hospitality sector. The demand for mattresses to furnish hotels, resorts, and guest accommodations further boosts the mattress market in the region.
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Key Players Operating in the Global Mattress Market are:
• Ashley Furniture Industries, LLC.
• American National Manufacturing, Inc.
• Boll & Branch
• Bedbuyer Pty Ltd.
• Brooklyn Bedding
• Casper Sleep Inc.
• Drive DeVilbiss International
• Duroflex Pvt. Ltd.
• Kingsdown, Inc.
• King Koil Inc.
• Kurlon Limited
• Maxim Mattress Inc.
• Paramount Bed
• Sealy Corporation
• Sleepwell
• Southerland Sleep
• Serta Simmons Bedding LLC
• Spring Air International
• Sleep Number Corp.
• Tempur Sealy International, Inc.
• VFI Group
This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global mattress market based on the below-mentioned segments:
Global Mattress Market by Type:
• Foam Mattresses
• Hybrid Mattresses
• Innerspring Mattresses
• Others
Global Mattress Market by Size:
• Double
• King
• Single
• Queen
Global Mattress Market by Application:
• Commercial
• Household
Global Mattress Market by Distribution Channel:
• Online
• Offline
About the report:
The global mattress market is analyzed based on value (USD Billion) and volume (K Units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes opportunities, challenges, driving factors, and restraints for gaining critical insight into the market. The study includes porter's five forces model, raw material analysis, supply and demand analysis, distribution analysis, competitor position grid analysis, attractiveness analysis, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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