Mattress Market Valuation Worth USD 68.1 Billion By 2030 At ...| MENAFN.COM

Thursday, 07 July 2022 01:50 GMT

Mattress Market Valuation Worth USD 68.1 Billion By 2030 At 7.9% CAGR - Report By Market Research Future (MRFR)

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New York, US, June 22, 2022 (GLOBE NEWSWIRE) -- Mattress Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR),“Mattress Market Information by Type, and End User, and Region - Forecast till 2030 ”, the market is estimated to acquire a size of over USD 68.1 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 7.9% during the review timeframe.

Market Synopsis

Mattresses are a necessity for every household and are used in every home. As a result, well-known mattress manufacturers have created a broad customer base. The demand for home decors such as pillowcases, mattresses, and bed linen has expanded due to strong growth in the real estate market to meet residential needs. The expansion of specialty mattresses such as waterbeds, airbeds, and foam-based mattresses is anticipated to be fueled by an increase in back problems caused by uncomfortable sleeping surfaces. It is mainly employed by new hospitals and restored old healthcare facilities, which have greatly increased the need for such mattresses to provide relaxation to patients and caregivers.

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Report Scope:

Report Attribute Details
2030 Market Size USD 68.1 Billion
CAGR 7.9% (2022–2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, End User
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Growing urbanization
urge for home renovation and interior design

Market Competitive Landscape:

The famous companies in the mattress market are:

  • Kingsdown, Inc.
  • Sleep Number Corporation
  • Serta Simmons Bedding, LLC
  • Tempur Sealy International, Inc.
  • Southerland, Inc.
  • Relyon Ltd
  • Corsicana Mattress Company
  • Pleasant Mattress, Inc.

Market USP Covered:

Market Drivers:

The desire to renovate and decorate one's house is a driving factor in the mattress market. People are upgrading their homes to make them healthier and more functional. People prefer to switch up their mattresses as the market develops sorts of mattresses. The market growth will continue to rise in the future as living spaces transition to new housing concepts. Over the projection period, rising disposable income combined with an increase in homeownership across the globe is predicted to stimulate demand for the product. Expanding demand from the real estate sector to meet residential demands has resulted in a growth in the sale of home decors such as cushions, mattresses, and bed linen, boosting demand for these items.

People are also becoming increasingly interested in adopting healthy lifestyle changes to improve their health. Individuals upgrade their mattresses since not changing and updating them can have several health benefits. Furthermore, individuals'willingness to make tiny modifications in their living spaces to improve their health is an opening for the mattress industry. Newer mattresses than before can be designed to cater to these people. Orthopedic and memory foam mattresses are two types of mattresses that could profit from this potential.

Market Restraints:

The procurement of raw materials for mattress production is a constraint. Mattress manufacturers have a difficult time obtaining raw materials for their products. While large-scale manufacturers may quickly obtain resources, small-scale manufacturers frequently struggle to obtain high-quality raw materials for mattress production. As a result, equal prospects for expansion within the international market are hampered. Furthermore, the widespread availability of unbranded/low-cost goods, particularly in Asian economies, stifles worldwide demand for high-end, branded, and luxury goods.

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COVID 19 Analysis

The COVID 19 epidemic had a considerable impact on various markets worldwide. This consequence of the extraordinary epidemic was likewise not unknown to the mattress market. Due to a shop lockdown during the initial wave of the COVID 19 pandemic, mattress sales dropped. Furthermore, due to movement and workplace constraints, the production of new mattresses has decreased. However, the market has recovered since people began to renovate and improve their homes while working from home. Because it is simple to purchase mattresses from e-retail stores, the presence of mattresses online helped boost sales during the pandemic time. On the other hand, the market is expected to rise even more due to the restart of production activity and the recovery from the pandemic.

Mattress sales will rise in the post-pandemic world as people become more health-conscious and recognize the significance of good sleep. Furthermore, individuals will purchase innovatively built mattresses with various benefits that are also durable rather than standard mattresses. The COVID-19 epidemic has provided substantial business prospects for domestic and foreign brands. While physical sales have suffered due to the COVID-19 problem, internet sales have remained strong. Given consumers' rising health-focused purchases and methods, the pandemic has also boosted demand for antiviral and antibacterial products worldwide. Customer relationships are predicted to help Direct-to-Consumer (DTC) in the post-COVID-19 situation.

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Market Segmentation

By Type

The innerspring will have a significant market share. However, the hybrid kind of mattress will have the highest individual segment CAGR in the foreseeable term.

By Applications

Mattress purchases will increase in the residential segment as disposable incomes rise. Mattress sales to the commercial sector took a hit during the pandemic, but they are expected to rebound in the future.

Regional Insights

Intensifying disposable income is expected to fuel the global market in APAC and Latin America, growing countries like India, Brazil, and South Africa. Due to the great ambiance in the sleep experience of consumers in Brazil, latex and memory foam mattresses have a significant market share, and hotels in these locations have a strong demand for these mattresses. Due to a rising consumer trend toward big houses and a growing preference for many bedrooms in the house, the European market is likely to develop significantly in the following years. Mattresses are in high demand in this region's healthcare and hotel industries. In care homes, clinics, and hospitals, the need for mattresses is increasing. In the North American region, companies partner with social media celebrities to enhance brand reach. For instance, Tess Holliday, a plus-size celebrity, author, and body-positivity activist, has joined Big Fig, the first mattress business dedicated entirely towards tall, significant, plus-sized sleepers. The company will raise awareness for its innovative products and how the business promotes and encourages the plus-size community through the campaign.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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