Pune, India, May 16, 2019 (GLOBE NEWSWIRE) -- Mattress Market is poised to touch USD 49,498.8 Million by 2024 at an impressive 7.21% CAGR during the forecast period (2018-2024), reveals the latest report by Market Research Future (MRFR).
Market Analysis
The development of sleep science has motivated the development of various products that can induce sound sleep among which mattresses are a key component. The mattress market is expected to develop at a CAGR of 7.21% to accomplish earnings worth USD 49,498.8 million by 2024 at the end of the forecast period. The design of mattresses has evolved considerably, as the awareness regarding the time spent sleeping by an average person has changed drastically. The market for mattresses is expected to evolve with the increasing emphasis on good quality mattresses by end users.
The fast-paced lifestyle along with various stress factors has considerably impacted the value placed on a good night’s sleep. The demand for various products that can induce and maintain deep REM sleep is expected to work in favor of the expansion of the mattress market. As insomnia has become a prominent lifestyle ailment, users are increasingly investing in good quality mattresses that can address the problem favorably. The manufacturers in the market have also recognized the growth potential of the market and have accordingly invested in the expansion of the market. The launch of new and groundbreaking products such as new materials or manufacturing procedures is anticipated to motivate the progress of the mattress market in the forecast period. The rising disposable income levels are anticipated to spur the advance of the mattress market in the coming years.
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Key Players and Industry Buzz
The noteworthy players in the Mattress Market globally are Sleep Number Corporation (US), Serta Simmons Bedding, LLC (US), Kingsdown, Inc. (US), Tempur Sealy International, Inc. (US), Southerland, Inc. (US), Relyon Ltd (UK), Corsicana Mattress Company (US), and Pleasant Mattress, Inc. (US) to name a few.
Apr 2019 Kurl-on, a leading mattress maker has purchased US-based luxury mattress brand Spring Air for Rs 70 crore. The procurement will permit Kurl-on to navigate the Rs 2000-crore revenue mark in the following two years, the purchase includes Spring Air’s operations across Bangladesh, India, Sri Lanka, and Pakistan. Spring Air and Englader brand of mattresses will immediately be below the Kurl-on umbrella with this acquisition. Spring Air will carry on the manufacturing of its bedding products from its dual manufacturing centers, supplementing Kurl-on’s existing ten manufacturing facilities.
Apr 2019 Tempur-Pedic has unveiled the TEMPUR-breeze mattress line among the first able of keeping cool throughout the night. Tempur-breeze will help users feel up to 8 degrees cooler over the duration of the night. Tempur-Pedic's material, thermal, and textile scientists comprise of ten cross-functional teams panning three continents who have expended more than 2.6 million hours and ten years on R&D in the industry's most high-tech thermal lab.
Market Segmentation
The segment-based evaluation of the Mattress Market is carried out based on type, end-user, and region. On the basis of type, the mattress market is segmented into hybrid, memory foam, gel-filled, innerspring, latex, and others. Based on the end users, the mattress is segmented into commercial and residential. Based on region, the mattress is segmented into Asia Pacific, North America, Europe, and the rest of the world.
Browse the market data and Information spread across 151 pages with 204 data tables and 20 figures of the report “Mattress Market Report - Forecast 2018-2024” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/mattress-market-7706
Regional Analysis
The regional study of the Mattress Market spans regions such as Asia Pacific, North America, Europe, and the rest of the world. As per the analysis, the North American region was accountable for the prime market share of 38.45% in 2017, and the regional market is projected to record a CAGR of 6.50 % throughout the forecast period. The US is anticipated to be the principal market in the region, responsible for the chief market segment during the forecast period. Though, the market in Canada is expected to display the maximum growth rate of 7.00% throughout the forecast period from 2018 to 2024.
The market in the Asia Pacific region is appraised to touch USD 15,557.5 million in earnings by 2024. The progress of the mattress market in the Asia Pacific region can be accredited to the growing demand for home furnishings owing to the speedy urbanization and a rising middle class. Additionally, the growing per capita disposable income in the region has led to the growing sales of luxury mattresses. China is anticipated to be responsible for a substantial market portion in 2018 and stay on as the major country-level market during the forecast period.
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