Report Code: A10855 | Pages: 228 | ||
Tables: 126 | Charts: 58 |
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The sleeping mattress market was valued at $33.2 billion in 2019, and is estimated to reach $39.9 billion by 2027, registering a CAGR of 5.2% from 2021 to 2027.
Sleeping mattress is used as bed that is filled with a resilient material alone or in combination with other products intended or promoted for sleeping upon. The sleeping mattress market growth is largely driven by factors such as infrastructural developments and rise in disposable income, owing to increase in number of hospitality and residential units.
The prevalence of sleeping disorders is increasing at an alarming rate, owing to inappropriate sleep cycle. As a result, market players are focusing on introducing smart mattresses with AI-based technology, which helps in detecting human health, sleeping hours, and breathing pattern while the user is sleeping. Furthermore, the mattress can adjust its temperature according to the sleeper and environment.
However, counterfeiting is one of the major restraints of the market, which is destroying the brand image of original products, as the counterfeiters sell damaged, rejected, or fake mattresses under the name of a known brand to gain good profit. Hence, the sold product do not last for longer period and end up tarnishing the brand image. Conversely, many attempts have been made to decrease the scale of counterfeiting and its impact on businesses and consumer perception with results consistently reflecting direct and indirect industry revenue losses and job losses.
The demand for luxury and customized mattress is expected to rise in near future. As the mattresses are the indicator of the quality of life of the customer and it is not just limited up to the consumer durable market product. Furthermore, the trend of interior decoration and designing is at peak, which is fueling the sleeping mattress market demand for customized mattresses.
The global sleeping mattress market segment include the product type, end user, distribution channel, and region. On the basis of product type, the market is categorized into foam, innerspring, latex, and hybrid.
By end user, it is segregated into residential and commercial. Depending on distribution channel, it is categorized into online and offline. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Rest of LAMEA).
On the basis of product type, the hybrid segment garnered the major sleeping mattress market share, as the hybrid mattresses are known for enhanced comfort offered by memory foam/latex and innerspring, which induce healthy sleep, as the mattress does not sink in and controls the movement of coil.
Depending on distribution channel, the offline segment held the maximum market share, as consumers prefer to analyze and evaluate the product for quality check before purchase. However, online segment is poised to grow with highest CAGR during the forecast.
By end user, the residential segment dominated the sleeping mattress market, owing to its rise in population. Furthermore, rapid urbanization significantly influences the demand for sleeping mattresses. Nevertheless, the commercial segment is likely to grow with highest CAGR during the forecast period.
By region, Asia-Pacific segment is dominating the market owing to its growing middle class population which is contributing to the growth of sleeping mattress market. The Asia-Pacific market has a huge growth potential for companies offering new and innovative smart mattresses solutions. Furthermore, with increasing penetration of market leaders in the region the unorganized sector is likely to lose significant market share towards the end of forecast period. Nevertheless, the prospects of sleeping mattress market is promising for Asia Pacific region.
The sleeping mattress market analysis report focuses on the growth prospects, restraints, and opportunities of the global market. The study provides Porter’s five forces analysis to understand the impact of various factors, such as the competitive intensity of competitors, bargaining power of suppliers, the threat of substitutes, threat of new entrants, and bargaining power of buyers, of the sleeping mattress market.
The major players operating in the market are Kurl-On Ltd., Leggett & Platt, Paramount Beds Co. Ltd., Saatva, Serta Simmons, Silentnight Groups, Sleep Number Corporation, Tempur Sealy, Spring Air, and Kingsdown.
COVID-19 impact analysis
Key Benefits For Stakeholders
Sleeping Mattress Market Report Highlights
Aspects | Details |
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By Product Type |
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By End User |
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By Distribution Channel |
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By Region |
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Key Market Players | KINGSDOWN, Sleep Number Corporation, Saatva, Silentnight Group, KURL-ON ENTERPRISE LTD., SERTA SIMMONS, SPRING AIR, Leggett & Platt Incorporated, Paramount Bed Holdings Co. Ltd., Tempur Sealy International, Inc |
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Based on the insights of the CXOs of leading companies, eco-friendly mattresses will attract a large consumer base. This is attributed to increase in customer awareness regarding the side effects of chemical and synthetic materials used in mattresses. Thus, the demand for organic mattresses is anticipated to increase considerably. According to the market players, investing in the production of eco-friendly mattresses, which are organic as well as affordable is profitable. Furthermore, producers are investing in multiple techniques such as breathable fabric and cooling gels which help mattress to eliminate heat.
However, the COVID-19 pandemic has declined the sale of mattress, owing to the pandemic policies. Conversely, to overcome the impact of the global health crisis, market players have adopted online sales platforms for customers.
The CXOs further added that key players are focusing on the launch of new mattresses that will inhibit the growth of germs over the mattress surface. Furthermore, integration of artificial intelligence in mattresses will help to track the sleep duration and body temperature. Such product innovations are likely provide lucrative growth opportunities to the market.
Moreover, the CXO emphasised on the recycling of mattresses as an emerging opportunity. There lies a colossal opportunity for mattress recycling across both developing and developed nations. Recycling of sleeping mattress has now emerged as a new business opportunity for market players generating better financial returns to manufacturers as well as reduced cost for consumers resulting in win win situation for consumers, manufacturers as well as environment.
A. The market size of the sleeping mattress for the year 2019 is $33.2 billion.
A. Leading companies profiled for the sleeping mattress market analysis include Kurl-On Ltd, Kingdsdwon, Leggett & Platt Incorporated, Paramount Bed Co Ltd.
A. Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.
A. The sleeping mattress market is poised to grow with a CAGR of 5.2% during the forecast period.
A. The forecast period of sleeping mattress market is from 2021 to 2027.
A. The sleeping mattress market is segmented by Product Type, End User, Distribution Channel and Region.
A. By region, Asia-Pacific region dominates the global sleeping mattress market.
A. The COVID-19 pandemic had a significant impact on the offline distribution segment of the sleeping mattress market due to the strict lockdown policies across the globe in an attempt to prevent the spread of coronavirus.
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