Overview of the Mattress Market
In 2023, the mattress market was estimated to be worth USD 46.11 billion. According to projections, the mattress market business would expand at a compound annual growth rate (CAGR) of 5.05% from USD 49.50 billion in 2024 to USD 73.41 billion by 2032.
The growing real estate market, rising disposable incomes, and growing awareness of the value of sleep have all contributed to the worldwide mattress market's upward trajectory. In the upcoming years, the market is anticipated to increase significantly due to the rising demand for bespoke and luxury mattresses. This paper explores the market's driving forces, existing patterns, and forecasts for the years 2030.
Key Drivers of Growth
- Rising Health Awareness: As people become more health-conscious, they are paying more attention to the quality of their sleep. This has led to a surge in demand for mattresses that offer better comfort and support. Orthopedic mattresses, memory foam mattresses, and latex mattresses are particularly gaining popularity due to their health benefits, such as improved spinal alignment and pressure relief.
- Booming Real Estate Industry: The expansion of the real estate sector, particularly in developing regions, has significantly impacted the mattress market. As more residential properties are being developed, the demand for mattresses is rising. The trend of purchasing second homes and vacation properties is also contributing to this demand.
- Growth of the Hospitality Industry: The hospitality sector, including hotels and resorts, is a major consumer of mattresses. With the continuous growth of tourism and travel, the demand for high-quality mattresses in this sector is increasing. Hotels are investing in premium mattresses to enhance guest comfort, thereby boosting the market.
- Technological Advancements: Innovations in mattress materials and manufacturing processes are driving the market forward. The introduction of smart mattresses equipped with features like adjustable firmness, temperature control, and sleep tracking is attracting tech-savvy consumers. Additionally, eco-friendly and sustainable mattresses made from organic materials are gaining traction among environmentally conscious buyers.
Market Trends
- Shift Towards Online Retail: The digitalization of the retail sector has made it easier for consumers to purchase mattresses online. The convenience of browsing, comparing, and buying mattresses from the comfort of their homes has led to a shift from traditional brick-and-mortar stores to e-commerce platforms. Online retailers are offering a wide range of products, often at competitive prices, along with the added advantage of customer reviews and home delivery.
- Customization and Personalization: Consumers are increasingly seeking mattresses tailored to their specific needs. Manufacturers are responding by offering customizable options, such as adjustable firmness levels, personalized mattress sizes, and dual-sided mattresses for couples with different sleep preferences. This trend is expected to grow as consumers look for products that cater to their unique requirements.
- Sustainability Focus: As environmental concerns rise, consumers are becoming more conscious of the ecological impact of their purchases. The demand for eco-friendly mattresses made from organic and sustainable materials is on the rise. Manufacturers are also adopting green practices in their production processes, such as reducing waste and using non-toxic adhesives.
Dynamics of the Mattress Market
Principal Motivators
The market for mattresses is greatly influenced by the desire for interior design and home remodeling. In an effort to make their homes healthier and more useful, people are remodeling them. When new mattress kinds enter the market, consumers want to change their mattresses periodically. People will be remodeling their living areas in the pandemic years 2020, 2021, and 2022 in order to improve the use and productivity of these areas. In 2020, the number of house renovations and remodels increased by 58% for interior design firms, indicating a desire among consumers to enhance the value of their living areas. Future market growth is driven by living spaces transitioning to modern housing concepts.
Significant Possibilities
The connection between restful sleep and good health is gradually becoming clear to people. A growing number of people are motivated to improve their health by adopting healthier lifestyle choices. People are replacing their mattresses since doing so can have a number of positive health effects. The mattress industry can benefit from people's willingness to make modest modifications to their living environments in order to improve their health. Businesses can create better mattresses than they have in the past to satisfy these customers. This is an opportunity that the orthopaedic and memory foam mattress industries may take advantage of.
Important limitations
Mattress Market Growth is eventually controlled by certain market constraints. One constraint is the sourcing of raw materials used in the production of mattresses. Obtaining the raw materials needed to make mattresses is a difficult task for mattress manufacturers. Small-scale manufacturers frequently struggle to obtain premium raw materials for creating mattresses, whereas large-scale manufacturers may simply source the supplies.
Principal obstacles
The existence of handmade mattresses is one of the biggest problems factory-made mattresses face. A large number of working-class and impoverished households continue to choose handcrafted mattresses. Growth in mattress market revenue is hampered by this. Even with the rise in living standards throughout time, many people continue to avoid purchasing commercially manufactured mattresses. Not only are handmade mattresses reasonably priced, but they are also incredibly cozy, which is why many choose not to use commercial mattresses. As such, the mattress market will face challenges from this industry.
Regional synopsis
Analyzing the mattress industry by location is crucial for comprehending how earnings and income are distributed among various local marketplaces. Since mattresses are a must in every home, there are various regional mattress marketplaces. North America, Asia Pacific, Europe, and the Rest of the World are the four main regional markets of the market. The USA and Canada will continue to contribute significantly, and the North American Region will continue to lead in terms of market size. On the other side, as incomes rise and more people get interested in home improvement, the APAC area will see significant growth.
For more information: https://www.marketresearchfuture.com/sample_request/7706
Competitive Landscape
The competitive landscape of the Market is dispersed with major and minor competitors. These key stakeholders of the Market bring in new Market trends and support the collective growth of the market. The major competitors of the Mattress Market are as follows-
- Kingsdown Inc.
- Sleep Number Corporation
- Serta Simmons Bedding LLC
- Tempur Sealy International Inc.
- Relyon Ltd
- Southerland Inc.
The majority of the key competitors of the Market are present in the North American region, which is why the North American region is the leading regional market of the global Market.
Recent Developments
- Mar 2022 Latexco US, a foam and latex manufacturer, will launch a sustainable, eco-friendly foam built exclusively for mattress comfort toppers. NaturalFoam Pulse is breathable, promotes ventilation, helps maintain a healthy sleeping environment, according to the manufacturer, and is made with components responsibly derived from the Hevea Brasiliensis rubber tree. The approved foam is made with the company's unique SonoCore technique, which saves energy. NaturalFoam Pulse complements Latexco's GOLS-certified NaturalFoam, which includes a variety of Dunlop latex mattress cores, toppers, and pillows. Natural latex is now offered in the company's Soul Spring hybrid mattress. The roll-up mattress features solid latex-encapsulated pocket springs.
- Mar 2022 Duvalay claims the solution to nighttime overheating and sleep sweats with its freshtec cooling mattress topper. The topper fits over your existing mattress and functions as a second, much thinner mattress on which you can sleep. The Duvalay freshtec is made of foam, but it is designed to combat some foam mattresses' impact of reflecting heat to you as you sleep. The Duvalay freshtec has a cell structure that allows for free air circulation.
The mattress market is poised for robust growth through 2030, driven by the factors mentioned above. The increasing focus on health and wellness, coupled with advancements in technology, will continue to shape the market. Additionally, the trend towards online shopping and customization will further propel the industry's expansion.
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
