Global Mattress Market By Product (Innerspring, Memory Foam, Latex, and Other Products), By Application (Commercial and Domestic), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Mattress Market Overview:

The global mattress market is estimated to reach USD 33,882 million in 2021. It will grow with a CAGR of 6.63% between 2023-2032.

Over the forecast period, the demand for the product will rise due to rising disposable income and the increase in homeownership which averages 70% around the world.

In order to meet residential needs, there has been an increase in home furnishings sales such as mattress covers, pillows, and linen. This has led to a higher demand for the product. The global market is being driven by the expansion of the healthcare and hospitality sectors.

Global Mattress Market Analysis

Product Analysis

Innerspring was the most popular product segment on the market with a 34% share in total revenue for 2021. This segment is experiencing a surge in growth due to the rising incidence of back problems and uncomfortable sleeping surfaces. The demand for innerspring mattresses in premium mattresses is increasing in emerging markets like India, Brazil, and China.

Talalay and Dunlop are the two main methods of producing latex foam. Talalay has denser and more firm foam while Talalay has lighter and softer foam. Kurl-On, Sleepwell, and other new companies make mattresses made from latex for domestic customers in a variety of sizes like Queen, King, and Two-Bed.

The memory foam mattress is great at relieving pressure on the painful joints. These mattresses fall into the premium category of mattresses. Casper has two types of poly-foam layers: one for pressure relief at the neck and feet; the other one is used to support the lumbar region.

Application Analysis

It is predicted that the domestic segment will experience a significant CAGR during the forecast period. A combination of increasing disposable income and various government policies in relation to reality has led to an increase in homeownership which in turn supports the growth in the mattress market. Many governments consider homeownership an important policy goal. Therefore, they encourage it by creating interest on mortgages.

You can name the Indian Government’s Housing for All program, the Chinese government’s joint ownership scheme for housing, or the U.K.’s Affordable Homeownership Scheme. These schemes allow many people to afford residential accommodation. This means that they will require bedroom necessities such as beds and mattresses to furnish the space.

The forecast period sees the commercial segment growing at a 6.9% CAGR. To increase their popularity, well-known hotel chains like Hilton and Taj Group have emphasized the importance of providing a comfortable and restful sleep environment to attract more guests.

International hotel chains are seeing a rising demand for mattresses and more brands selling premium, organic products will likely boost this segment. Purple Innovation LLC, the manufacturer of the World’s First No-Pressure Mattress, is expanding its channel strategy and bringing its comfort products in select areas across the U.S.

Key Market Segments

By Product

• Innerspring
• Memory Foam
• Latex
• Other Products

By Application

• Commercial
• Domestic

Market Dynamics

Both the public and private sectors make substantial investments to improve and expand the healthcare sector. The flagship program of Pradhan Mantri Jan Aarogya Yojana, the Government of India, provides viability gap funding of up 40% of total project costs to all hospitals. This will enable the purchase of additional beds and mattresses in the near future for government and semi-government hospitals, to enhance the basic infrastructure.

The rise in back problems primarily caused by uncomfortably sleeping surfaces is likely to be a major factor in the development of specialty mattresses like an airbed, waterbed, and foam-based. New hospitals, as well as renovated older healthcare institutions, are the main users of these mattresses. They provide comfort for in-patients, outpatients, and caregivers.

Serta Inc.’s iComfort hybrid mattress features TempActiv cooling technology and a brand new coil support system. This allows for copper to be infused into natural latex. This gives the element immediate contact, or nearness, to the body. Copper helps relieve pain, reduce arthritis-related inflammation, and cures many other medical issues.

The main end-users for mattresses in the commercial segment are hotels, due to the preference for a change in their mattresses is often than residential customers. The average time it takes for residential users to replace their mattresses is 9-10 years.

As such, the CAGR for the commercial segment is 7%. This compares to the domestic segment. King Koil supplies mattresses to top hotels like JW Marriott and Hyatt Regency as well as Westin Hotels & Resorts.

Regional Analysis

APAC’s market accounted for the highest revenue share of 41.3% and is expected to grow at a 7.2% CAGR in terms of value between 2023-2032. The emergence of brands like Kurl-On and Stearns & Foster is predicted to drive market demand, particularly for the innerspring/latex segment.

APAC is the biggest consumer of mattresses, due to the large population in countries such as India, China, Sri Lanka, and other Asian countries. This has led to increased demand for the product.

The global market will be driven by APAC country’s high disposable income. This is in addition to the potential for South Africa and Brazil to have a large share of the APAC and South American markets. Brazil holds a significant share in the market for memory foam and latex mattresses. This is because of its superior sleep experience. Hotels in these countries have a high demand for these mattresses.

Europe’s market for mattresses is expected to experience significant growth over the next years, due to the increasing preference for large houses and multiple bedrooms. This region has a high demand for mattresses in the hospitality and healthcare sectors.

In the healthcare sector, there is a growing demand for mattresses. Bensons for Beds and Feather & Black manufacture premium mattresses for the domestic budget, which helps to boost sales in major European cities.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Some of the global market players include Kingdown Inc.; Sleep Number Corporation, Simmons Bedding Company LLC, etc. In order to expand their market share, a number of market leaders are expanding production and strengthening their global presence. Hybrid mattresses are becoming more popular as consumers are willing to pay more. Serta Inc. introduced a new range of iComfort hybrid mattresses.

Маrkеt Kеу Рlауеrѕ:

• Purple Innovation LLC
• Spring Air International
• Kingsdown Inc.
• Sleep Number Corp.
• Simmons Bedding Company LLC
• Tempur Sealy International Inc.
• Serta Inc.
• Relyon Ltd.
• Other Key Players

For the Mattress Market research study, the following years have been considered to estimate the market size: