Europe Mattress Market To Generate Revenue Worth $17.1 Billion by 2030
- Published: October 2023
The European mattress market is projected to generate USD 17.1 billion revenue by 2030, advancing at a CAGR of 7.3% during 2024–2030. The key factors driving the market are the increasing disposable income, government support for real estate development, surging urbanization rate, and growing healthcare and hospitality sectors.
The trend of recycling mattresses in European countries is more prominent as compared to other regions. The discarded mattresses are usually sent to small-scale recyclers, who perform manual dismantling and sell the salvaged material. This has encouraged commercial businesses, along with the manufacturers and retailers, to engage in recycling. Around 100,000 mattresses are being recycled this way. In addition, local authorities are providing collection services and engaging in partnerships with recyclers.
Earlier, mattresses were sent to energy recovery plants for extracting energy by burning them, instead of acquiring the valuable materials. Moreover, in the European Union, about 30 million mattresses are discarded every year. Hence, there is a need for recycling the mattresses; otherwise, the waste pile will be 678 times the height of Mount Everest. However, in the Netherlands, approximately 75% of the mattresses are being collected and recycled. In addition to that, the polyurethane supply chain is investing heavily for the expansion of the application of the existing and emerging novel recycling technologies.
The pandemic negatively impacted the supply chains of numerous sectors in Europe during the first two quarters of 2020. This led to the reduced trade of a number of products, including mattresses, as a consequence of the diminished demand, closure of manufacturing facilities, to protect the workers in the region; and widespread financial distress.
However, there was a rise in international tourism back to 60% of the pre-pandemic levels from January to July 2022. Moreover, an increase of 74% was registered in international tourist arrivals in Europe during this period. The commencement of activities in the tourism industry drove the demand for mattresses in the coming years. Many hotel chains that replace mattresses every 3–4 years are again buying new ones. Moreover, manufacturers and retailers across Europe have started the production and distribution of mattresses, respectively.
Sale via Online Distribution Channels Is Growing Quickly
The online category held a share of more than 21% in 2023. Consumers are inclining toward online channels even more since the COVID-19 pandemic. Further, even though store-based commerce is highly prevalent, major manufacturers are giving importance to enhancing their online presence, for a competitive advantage.
Moreover, king-size mattresses accounted for the largest revenue share in the market in 2022, and the category is projected to witness the same trend during the forecast period. This can be majorly attributed to their easy availability and growing use in metropolitan areas.
Geographically, the U.K. is expected to grow the fastest, with a CAGR of 8.8%, during the forecast period. The growth in the mattress market is largely led by the increasing income level and the infrastructure development, reflected in the increasing number of residential units and hotels in the country. Moreover, the demand for the construction of both residential and institutional areas has grown in the U.K. over the years. This, along with the rise in the awareness regarding the different mattress types and brands and growth in the e-commerce and online retail sectors, will drive the expansion of the mattress business over the projection timeframe.
Major players operating in the European mattress market include Aquinos Group, BeCo Matratzen GmbH & Co. KG, bett1.de GmbH, Resident Home LLC, Puffy Mattress, Spring Air International, Kingsdown Inc., King Koil Licensing Company Inc., Tempur Sealy International Inc., Emma Sleep GmbH, Relyon Beds Limited, and Royal Auping bv.