Published: February 2022 | Report Code: 12269 | Available Format: PDF | Pages: 215
The European mattress market generated an estimated revenue of $7,877.0 million in 2021, and it is expected to grow at a CAGR of 6.9% during the forecast period (2021–2030). The key factors responsible for the growth of the industry include the increasing urbanization coupled with favorable government policies regarding real estate development and the rising healthcare and hospitality sectors.
The COVID-19 pandemic negatively impacted the supply chains of numerous sectors in Europe and led to the reduced trade of a number of products, including mattresses, as a consequence of the closure of manufacturing facilities globally. Furthermore, according to the World Tourism Organization (WTO), the pandemic caused a 66% fall in international tourist arrivals in the region during the first quarter and a 97% drop in the second quarter of 2020. The halt in the tourism industry impacted hotels, which further negatively impacted the market for mattresses in Europe. However, the increasing number of people confined to their homes for an extended period could drive the demand for mattresses over the next few years.
The innerspring category accounted for the largest share in the European mattress market in 2021, based on product. This is because innerspring mattresses are getting popular among Europeans. Furthermore, in Central and Eastern Europe, these mattresses are highly preferred, as they cater to a variety of consumers preferring bounce, cooling, and strong edge support.
Moreover, king-size mattresses held the largest share in the market in 2021, based on size. This is majorly attributed to their huge availability and growing use in metropolitan areas of large cities. Also, manufacturers and distributors are strongly focusing on producing and selling their natural material-based king-size mattresses for the quality of sleep and comfort they offer, which, in turn, strengthen their demand.
The online category is projected to record the fastest growth in the market during the forecast period, based on distribution channel. Consumers are inclining toward online channels, in order to maintain social distancing and curb COVID-19 infection. Further, in the industry, store-based commerce is still largely prevalent; however, major manufacturers are laying emphasis on ameliorating their online presence and gaining a competitive advantage.
The commercial sector is expected to register the higher CAGR during the forecast period, based on end use. Proliferating healthcare and hospitality sectors are the significant factors driving the market growth in this category. To capitalize on the rising mattresses demand from the healthcare industry, major players are launching specialized mattresses suitable for multifunctional hospital beds. Similarly, with the growth in the tourism sector, premium and customized mattresses are expected to witness huge demand from the hospitality sector in the coming years.
|Base Year (2021) Market Size||$7,877.0 Million (E)|
|Market Size Forecast in 2030||$14,382.8 Million|
|Forecast Period CAGR||6.9%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling|
|Market Size by Segments||By Product; By Size; By Distribution Channel; By End Use; By Country|
|Market Size of Geographies||Germany; France; U.K.; Italy; Spain; Netherlands; Poland; Belgium; Denmark; Russia; Rest of Europe|
Geographically, France generated the largest revenue in the European mattress market in 2021, owing to the high demand for mattresses in the medical and hotel industries in the country. Consumers are prioritizing sleep as a crucial factor contributing to high-energy levels, happiness, and productivity. Further, product innovations, such as multifunctional beds with height adjustment feature and electronic connectivity, drive the need for mattresses, especially in hospitals.
Moreover, the mattress market in the U.K. is expected to register the fastest growth during the forecast period, due to the increasing income level and the surging infrastructural development, in terms of the increased number of residential units and hotels in the country. Furthermore, construction activities in both residential and institutional areas are inflating in the U.K., coupled with growing awareness regarding mattress types and brands, and growth in e-commerce and online retail sectors are projected to expand the mattress industry in the country in the long run.
The consumer preference for customized mattresses is one of the major trends being observed in the market. For instance, Tempur Sealy International Inc. started to offer the customization option to customers, where they can customize the thickness, firmness, and size of the mattress according to their preference. As the physical dynamics of every customer, such as height and weight, are different, customization offers better support during sleep for different body types. In addition, with most mattresses available in standard sizes, they do not always fit perfectly in customized bed frames; hence, in such cases, a customized mattress is preferred.
The disposable income of households grew in the European Union (EU) in total by 14% between 2000 and 2009. Following the financial crisis, it decreased by around 3% from 2009 to 2013 and then rose by 11% between 2013 and 2019. In 2020, the growth rate was 0.6%, following the impact of the COVID-19 pandemic. Thus, the rising disposable income has a positive influence on the demand for mattresses, as they are one of the basic necessities for humans. Further, several governments have considered homeownership as an important policy goal and have, consequently, incentivized it by creating mortgage interest payments (a deductible expense for the purpose of income tax). For instance, the affordable homeownership scheme of the U.K. government is driving the homeownership rate, which, in turn, drives the market growth.
Migration is a major reason for the rising population in urban areas, which is driving the real estate industry. In Europe, urbanization is an ongoing phenomenon, both in terms of urban land expansion and increasing population share. According to the World Bank, the urban population’s growth rate of the EU was 0.4% in 2020. Further, as per the European Commission, the region’s level of urbanization is projected to inflate to around 83.7% in 2050, while the total population of European functional urban areas (FUAs) is expected to increase on average by 4% by 2050. Therefore, this is also expected to drive the demand and production of mattresses across the region.
The European mattress industry is highly fragmented, due to the presence of several key players. In recent years, the market players have been involved in product launches and partnerships in order to attain a significant position. For instance:
The European mattress market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.
Based on Product
Based on Size
Based on Distribution Channel
Based on End Use
In 2030, the value of the European mattress market will be $14,382.8 million.
Innerspring is the largest category under the product segment of the European mattress industry.
The major European mattress market drivers are the rising disposable income and government policies regarding the provision of affordable housing, surging urbanization rate, and growing healthcare and hospitality sectors.
France is the largest mattress market in Europe.
Most European mattress market players are adopting product launches and partnerships strategies to sustain their business growth.
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