New York, United States, Dec. 20, 2023 (GLOBE NEWSWIRE) -- A sleeping mattress is a cushioned object that may be used as a bed and is packed with sleeping-related materials. For diverse client needs, various materials are offered as sleeping beds, including foam, latex, innerspring, and hybrid mattresses. The companies continue to create cutting-edge technology, such as contactless sleep trackers and mattress cooling software, to remain relevant in the competitive market. With increasing discretionary income and a surge in wealthy individuals, luxury items are expected to acquire substantial traction in the upcoming years, driving growth. Mattresses are a better indicator of a person's quality of life than almost any other consumer durable.
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Growing Urbanization and Rapid Expansion of Hospitality Industry Drives the Global Market
According to UNCTAD, the rate of urbanization worldwide is 55.7%. With the population growing exponentially, there is also a growing need for sleeping beds. Thus, rapid urbanization and population increase benefit the residential and commercial sectors and raise the demand for mattresses for sleeping. The hospitality industry provides its customers with the best sleeping and comfort options. As a result, the hospitality industry is experiencing an increased demand for more unique and comfortable mattresses. Urbanization has also increased the number of interior design and home renovation projects in developed and metropolitan areas, which has helped the industry.
Health Monitoring through Sleeping Mattress Creates Tremendous Opportunities
According to Straits Research, “The global sleeping mattress market size was valued at USD 27,419 million in 2021. It is projected to reach USD 43,270.3 million by 2030, growing at a CAGR of 5.2% during the forecast period (2022-2030).” Due to bad sleep habits and health issues, the prevalence of sleeping disorders is dangerously increasing globally. Artificial intelligence is also incorporated into the mattress to keep track of users' health while they sleep and adjust the temperature accordingly. In the near future, it is projected that this technology will change the global mattress business. Magnifies, an Italian mattress manufacturer, also plans to release MagniSmartech, a similar device, in the following year. This revolutionary high-tech system integrates the mattress, bed frame, and bed. It uses sensor-based technology to collect data on the people in the room and the physical environment.
Regional Analysis
North America is the most significant shareholder in the global sleeping mattress market and is expected to grow at a CAGR of 3.8% during the forecast period. Operating businesses in the sector are updating their client groups, developing product portfolios, implementing omnichannel strategies, repositioning their brands, and putting new service models into place. According to internal estimates, more than 50 million Americans of various ages and socioeconomic status struggle with sleep issues. The market is expected to grow moderately over the forecast period because sleep-related problems are so common in the region.
Asia-Pacific is expected to grow at a CAGR of 6.9% during the forecast period. The market has significant growth potential since Asia-Pacific companies offer new and cutting-edge creative bedding solutions that appeal to an extensive consumer base. Given the expanding urbanization and digitalization of the area, the development of modern retail channels is expected to offer exciting opportunities to concerned parties. Additionally, it is anticipated that rising consumer awareness of the importance of sleep will propel the development of this market in the region.
The raw materials used in mattresses, the testing procedures, and the chemical components are all subject to tight regulations in European countries. However, the demand for sleeping mattresses in the bedding products market is projected to proliferate. Europe places a significant emphasis on the capability of recycling mattresses in its highly developed economy. Partnerships between producers and suppliers of raw materials are expanding to lessen the danger of landfill pollution. Recycled polyols are produced from used mattresses due to a collaboration between Dow Polyurethanes and German machinery manufacturer H&S Anlagentechnik. Furthermore, beds made of organic materials like jute, cotton, wool, and coconut fibers are becoming more and more well-liked in the region.
Key Highlights
- Based on product type, the global sleeping mattress market is bifurcated into foam, innerspring, latex, and hybrid. The foam segment is the highest contributor to the market and is expected to grow at a CAGR of 4.7% during the forecast period.
- Based on end-users, the global sleeping mattress market is bifurcated into residential and commercial. The residential segment owns the highest market share and is expected to grow at a CAGR of 5.1% during the forecast period.
- Based on distribution channels, the global sleeping mattress market is bifurcated into online and offline. The offline segment is the highest contributor to the market and is expected to grow at a CAGR of 5.1% during the forecast period.
- North America is the most significant shareholder in the global sleeping mattress market and is expected to grow at a CAGR of 3.8% during the forecast period.
Competitive Players
The global sleeping mattress market’s major key players are Kingsdown, Kurl-On Enterprise Ltd, Leggett & Platt Incorporated, Paramount Bed Holdings Co. Ltd, Saatva, Serta Simmons, Silentnight Group, Sleep Number Corporation, Spring Air, Tempur Sealy International, Inc
Market News
- In June 2022, Serta Simmons Bedding Unveiled Limited Edition Sleep Collection with Nate Berkus.
- In July 2022, Kingsdown, Kurl-On Enterprise Ltd, All Zedbed mattresses feature engineered foam cores optimized for use on adjustable bases.
Global Sleeping Mattress Market: Segmentation
By Product Type
- Foam
- Inner Spring
- Latex
- Hybrid
By End-User
- Residential
- Commercial
By Distribution Channels
- Online
- Offline
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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