Mattress Market - Comprehensive Study Report with Recent Trends 2024-2032

Global Mattress Market Overview

Global Mattress Market size is projected to reach USD 60.98 Billion by 2023 from an estimated USD 113.06 Billion in 2032, growing at a CAGR of 7.1 % globally.

A mattress is a padded surface, typically rectangular, designed for sleeping or resting. It consists of an outer fabric cover filled with materials such as foam, latex, springs, or air. Mattresses provide support and comfort to the body during sleep by distributing weight evenly and relieving pressure points. They come in various sizes and firmness levels to accommodate different sleeping preferences and needs, contributing to overall sleep quality and well-being.

Consumer preferences are evolving, driving innovation in mattress design, materials, and technologies. Traditional innerspring mattresses have been joined by memory foam, latex, hybrid, and airbed options, each offering unique benefits such as pressure relief, temperature regulation, and motion isolation.

• E-commerce has revolutionized the way mattresses are sold, providing consumers with convenience, a wider selection, and often lower prices compared to brick-and-mortar stores. Online mattress companies frequently offer generous trial periods and hassle-free returns, enhancing consumer confidence and satisfaction.
• Furthermore, sustainability and eco-friendliness have become key considerations for many consumers, leading to the rise of mattresses made from organic and recycled materials, as well as those certified by third-party organizations for their environmental and social responsibility.
• The mattress market is also influenced by demographic factors such as population growth, urbanization, and aging populations, which drive demand for both residential and commercial mattresses. Additionally, economic factors, including disposable income levels and housing market trends, play a role in shaping consumer purchasing behavior within the market.
• Overall, the mattress market is dynamic and competitive, characterized by continuous innovation, changing consumer preferences, and a growing emphasis on sustainability and wellness. As sleep continues to be recognized as a critical component of overall health and well-being, the mattress market is poised for further growth.

Market Dynamics And Factors For Mattress Market

Driver:

A Large Number of Customers Attracting Towards New Products

Most people attracted to purchasing new products are the key factor in driving the growth of the mattress market. A large number of online sectors are engaged in the sales of new beneficial products including a mattress in the world. Peoples are interested in purchasing mattresses online as well as offline also, which propels the growth of the mattress market. In addition to this, changing lifestyle, hectic and hectic schedule, and change in eating habits leads to severe mental discomfort. Peoples are more aware of problems associated with uncomfortable sleep. Thus, they are attracted to such product which provides comfort. Mattress improves the better sleep quality which supports the increase in the demand for mattresses and boosts the growth of the market in the forecast year.

Restraints:

Higher Product Lifespan

The mattress has a high lifespan so the decline in the purchase rate of the mattress by consumers is hampering the growth of the market. Some mattress is made from nylon which is not disposed of easily. The typical lifespan of the product is 7-10 years. So, peoples buy mattresses at one time in 7-10 years. The mattress looks comfortable, luxurious, and soft but it produces problems for people who are sleeping on their back and those who have a heavier weight. These factors decrease the demand for the mattress and restrict the business’s long-term growth in the mattress market.

Opportunity:

Growing Mattress Sale on e-Commerce Platforms

Several online platforms are available in the world for the sale of multiple products including the mattress is a lucrative opportunity for the mattress market. A large number of customers prefer the online sector for purchasing mattresses because during purchasing people can compare the product to other websites, sizes, shapes, and materials and they can choose the better products. Consumers are more aware regards the benefits of online sales. For instance, according to Statista, retail e-commerce sales accounted 4.9 trillion U.S. dollars in 2021 worldwide and Statista also stated that sales are growing by 50% in the next four years, and the projected value is about 7.4 trillion dollars by 2025. This is a huge opportunity for the market of mattresses in the projected timeframe.

Segmentation Analysis Of Mattress Market

• By Type, innerspring mattresses are expected to have the maximum market share in mattresses during the forecast year. This mattress is bouncy. Most people prefer bouncy beds because it is easy to get in and out of the bed, so this increase the demand for an innerspring mattress. It provides an excellent level of the breathable, and comfortable sleeping surface, and it has a low cost, durable in nature, and is made from stronger and thicker metal which supports the growth of the market. In addition to these rising problems associated with uncomfortable sleeping, support for increasing the market in the projected timeframe.
• By Application, the private household segment is projected to have the maximum market share in the market of mattresses during the forecast year. The rising population in the world with a growing number of homes in the developing nations, also a rising number of hotels, motels, hospitals, hostels, colleges, five-star resorts, and commercial facilities. Because of changing lifestyles, and improving financial conditions, the result is an increase in the visits to tourism to five-star resorts. These factors support the growth of the market.

Regional Analysis Of Mattress Market

North America dominates the Mattress Market. The innerspring mattress is mostly sold in the North American region. The North American peoples consume luxury and premium quality products. Increasing the launching of new products across the distribution channels. Additionally, rising the construction, of hospitals, and the number of tourists, and hospitals in this region. These factors help to increase the mattress market in the projected timeframe.

The Asia Pacific is the second dominated region in the Mattress market. The rising population increases the demand for consumer goods that contain mattresses, and the emerging disposable income of developing countries such as India, Thailand, Malaysia, and China. Additionally, improving the financial stability of middle people which tends to develop the standard of living, and increasing the number of online sales platforms, these factors also involved in the market of mattresses in the forecast year.

In the Europe region, polyurethane foam cores and latex cores are more popular. These provide the larger proportion of the mattresses sold on the continent. In this region rapidly, increasing travel and tourism industry. They are attracted to luxury products including the mattress. For instance, Statista stated that in 2021 the number of international tourists in Europe is increasing by 20% as compared to 2020. Total international tourist arrivals in Europe region are about 287 million in 2021. Thus, the rising number of tourists helps increase the market.

The Middle East and Africa show significant growth in the mattress market. It is due to the rising selling of mattresses via online distribution channels on websites of the company and on e-commerce websites such as Walmart, Amazon, and other e-commerce sectors. These sectors offer a discount on the purchase of products which propels the sale of mattresses on the e-commerce website.

The market players in South America are engaged in the research and development of new beneficial products which contain mattresses with advanced features such as unique cell orientation, unique axis technology, and a simple step-up and step-down surface. Thus, people in the South American region are attracted to these new features which support an increase in the demand for a mattress and boost the mattress market in the forecast year.

Top Key Players Covered In Mattress Market

• Casper Sleep Inc (New York, United States)
• Corsicana Bedding Inc (Dallas, United States)
• Innocor Inc (Red Bank, United States)
• King Koil (Willowbrook, United States)
• Kingsdown Inc (Mebane, United States)
• Paramount Bed Co. Ltd (Tokyo, Japan)
• Relyon Limited (Wellington, United Kingdom)
• Restonic Mattress Corporation (Buffalo, United States)
• Serta Simmons Bedding LLC (Atlanta, United States)
• Silentnight Group Ltd (Preston, United Kingdom)
• Sleep Number Corporation (Minneapolis, United States)
• Spring Air International (Woburn United States)
• Tempur Sealy International Inc (Lexington, United States)

Key Industry Development In The Mattress Market

• In February 2024, Centuary Mattress, India's Sleep Specialist, is set to redefine sleep with the launch of its groundbreaking Qool innovation. The highly anticipated reveal will occur at the prestigious India MattressTech Expo 2024, an event showcasing cutting-edge advancements in the mattress industry. This innovative launch underscores Centuary Mattress's commitment to enhancing sleep quality and comfort, reinforcing its position as a leader in sleep solutions. Stay tuned for this exciting development at the Expo.
• In March 2022, Artificial Intelligence based smart bed is launched by Sleep Number Corporation under the Sleep Number 360 brand. This new product contains advanced sensors that proactively monitor and improve the user’s sleep.
• In April 2021, a four-model Breathe collection of mattresses was launched by Spring Air International.  These models provide protection from bacteria and viruses for a healthier sleep.