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The Global Mattress and Mattress Component Market Is Estimated to Reach At US$ 32.6 Bn by 2028, Growing With A CAGR Of 6.4% during the Forecast Period
Mattress significantly influences sleeping comfort and health. The rising urbanization, increasing the real estate sector, growing awareness about the benefits of mattresses and the emergence of natural and customized mattresses are driving the growth of the industry.
Rising Income Levels and Health Consciousness to Drive the Global Market
The fast-paced lifestyle of the population has led to an increase in sleep deprivation globally. Recent studies estimated that almost 30% of Americans sleep for less than 6 hours and several other countries have also reported a decline in sleep duration. The growing use of technology and stress are contributing to the short-sleep trend. In addition, lifestyle factors such as excessive consumption of caffeine, lack of physical activity, poor stress management and smoking are all contributing to sleep disturbances. According to a survey conducted by the National Sleep Foundation, over 90 percent of people know the quality of the sleep depends on the mattresses and that mattress and health go hand-in-hand. Studies also suggest that mattress reduces the pressure points on the body and gives a better night sleep. This ever-increasing awareness about the impact of shortened sleep duration and problems associated with it such as weight gain, risk of myocardial infarction, hypertension, and diabetes are increasing the demand for specialized and custom mattresses. Additionally, due to the rising disposable income, a large number of people are also investing on high range mattresses. Therefore, due to the renewed focus on the quantity and quality of sleep among people, the mattress and mattress component market is expected to grow rapidly over the forecast period.
Growing Innovations in Mattresses and Rising Preference for Customized Mattresses
Nowadays, several mattress makers are bringing innovations in their product offerings. Compressing and roll-packing innerspring beds, latex alternative foams, individually pocketed spring technology and cooling phase change surface infusions are the latest innovations in the mattress’s components. Mattresses with these innovations are making it easier than ever to increase the comfort of the consumers. Manufacturers are also focusing on custom mattresses by creating individual coils and encasing each one in fabric, that isolate the motion of each sleeper. Companies have started offering mattresses that are prepared as per the specifications provided by the end-user. Manufacturers are also offering customizations in the size, shape, and design aspects for the customer, along with options to customize the mattress to suit windows, bolsters, yachts, and V-berths, and for products such as T-cushions, L-cushions, and chair cushions. These new innovations will bring several beneficial opportunities for the growth of the market.
Innerspring Mattresses are Held Significant Share in Global Mattress Market In 2019
On the basis of product type, innerspring mattresses hold a majority of the total market share as they are the most traditional and affordable type of mattress. In addition, these mattresses are also available at different levels of firmness and comfort levels which aid their growth in the market.
The end-users include residential and commercial. The residential segment holds the maximum share due to factors such as increasing population, rising urbanisation, and improvement in institutional infrastructure. The increasing awareness about the mattress as an integral part for proper sleep is also aiding the growth of the mattress and mattress components market in the residential sector.
The Asia Pacific dominated the Global Mattress and Mattress Component Market in 2019
Asia Pacific held the largest market share in the mattress and mattress components market and is anticipated to remain dominant over the forecast period. The rising urbanization in countries such as China and India is majorly contributing to the growth of the Asia Pacific mattress and mattress components market. The North America holds the second-largest market share in the global market. The presence of a large number of manufacturers contributes largely to the growth of the North America mattress and mattress components market in the U.S.
The emergence of the New Entrants with Innovative Product Offerings Are Increasing the Competitiveness in the Mattress and Mattress Components Market
The mattress and mattress components market is highly fragmented in nature. The major players in the market include Spring Air Company, Select Comfort, Simmons Bedding Company LLC., Leggett & Platt., Relyon Beds., Sleep Number Corporation, Corsicana Mattress Company, Tempur Sealy International, KING KOIL Inc., and Kingsdown Inc. However, a large number of start-ups are entering the market with innovative products which increases the competition in the market. Barriers to entry are low, but barriers to profitability are high. These companies are also operating through online channels and trying to create a brand image through marketing campaigns.
Global Mattress and Mattress Components Market by Mattress Type
- Hybrid Mattress
- Memory Foam
- Latex Mattresses
Global Mattress and Mattress Components Market by Size
Global Mattress and Mattress Components Market by End-user Industry
Global Mattress and Mattress Components Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa