Newark, Aug. 15, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global mattress market is expected to grow from USD 37.30 billion in 2023 to USD 60.30 billion by 2033, at a CAGR of 4.92% during the forecast period 2024-2033. The Asia Pacific region is experiencing a significant increase in population and rapid urbanization, leading to a higher demand for housing and bedding products, including mattresses. Economic growth and improving living standards can result in higher disposable incomes for consumers. With increased purchasing power, individuals are more likely to invest in better-quality mattresses for improved comfort and sleep. These factors are driving the region's growth.
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Furthermore, manufacturers in the Asia Pacific region offer a diverse range of mattresses to cater to various consumer preferences and sleeping habits, which include traditional spring mattresses, memory foam mattresses, hybrid mattresses, and more. Some countries in the Asia Pacific region have actively supported the growth of their manufacturing industries, including the mattress sector, through favourable policies and investments. On the other side, Europe is anticipated to witness lucrative growth during the forecast period. Many European countries boast a relatively high standard of living, with consumers willing to invest in quality products that enhance their comfort and overall well-being, which includes a strong demand for high-quality mattresses that offer superior support and sleep experiences. North American consumers are becoming more health-conscious, and there is a growing awareness of the importance of quality sleep for overall well-being. This trend encourages consumers to invest in better-quality mattresses that provide proper support and comfort.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 4.92% |
| 2033 Value Projection | USD 60.30 Billion |
| Market Size in 2023 | USD 37.30 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Type, Size, Application |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Mattress Market Growth Drivers | Increasing Awareness of Sleep Health |
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Leading market players in the industry include Ashley Furniture Industries, LLC., American National Manufacturing, Inc., Boll & Branch, Bedbuyer Pty Ltd., Brooklyn Bedding, Casper Sleep Inc., Drive DeVilbiss International, Duroflex Pvt. Ltd., Kingsdown, Inc., King Koil Inc., Kurlon Limited, Maxim Mattress Inc., Paramount Bed, Sealy Corporation, Sleepwell, Southerland Sleep, Serta Simmons Bedding LLC, Spring Air International, Sleep Number Corp., Tempur Sealy International, Inc. and VFI Group among others which are offering more significant scopes and are constantly engaged on newer product creation and venture capital investments to gain market share.
The type segment is classified into foam mattresses, hybrid mattresses, innerspring mattresses and others. In 2023, the foam mattresses section accounted for the largest market share, with 45.11%. High-quality foam mattresses can have a longer lifespan than other mattresses, providing better value for consumers in the long run. The size segment includes double, king, single and queen. In 2023, the queen section dominated the market with the largest share of 47.03%. Queen-size mattresses have received significant marketing attention, with manufacturers promoting the size as a comfortable and practical choice for various demographics. The application segment is divided into commercial and household. In 2023, the household registered the highest market share of 81.28%. The household segment comprises individual consumers and families, making it the most extensive customer base for the mattress market. Most households require multiple mattresses for bedrooms, guest rooms, and other sleeping spaces. The distribution channel segment includes online and offline. In 2023, the offline section held the highest market share at 69.48%. Brick-and-mortar stores have a local presence, making it easier for consumers to access mattresses quickly. This immediate availability is attractive to customers who need a mattress urgently.
Evolving consumer lifestyles and preferences for modern, aesthetically appealing bedroom setups drive interest in premium mattresses that complement interior design choices. In addition, expanding real estate markets, including residential and commercial properties, drives the demand for mattresses as new properties are furnished and existing ones undergo refurbishment. Furthermore, expanding product lines to include various mattress types, such as memory foam, latex, hybrid, and adjustable beds, can cater to diverse customer preferences and broaden the market reach over the forecast period. On the other hand, economic fluctuations and uncertainties can affect consumer spending patterns, reducing discretionary spending on non-essential items like mattresses. Moreover, complying with safety, health, and quality standards set by various regulatory bodies can be complex and costly, particularly for manufacturers operating in multiple regions with different regulations.
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