Mattress Market To Generate Revenue Worth $64,045.5 Million by 2030

  • Published: May 2021

The increasing tourism activities and rising standard of living are boosting the demand for mattresses globally. Moreover, people’s growing concern toward sound and healthy sleep is another factor pushing the market on the path of prosperity. In this regard, the increasing incidence of back and spine problems due to uncomfortable sleeping surfaces is likely to play a major role. Owing to the aforementioned factors, the global mattress market is expected to grow with a CAGR of 7.0% during the forecast period (2021–2030), to reach $64,045.5 million by 2030.

The COVID-19 pandemic negatively impacted the supply chains of numerous sectors worldwide in 2020. This led to the reduced trade of a number of products, including mattresses, as a consequence of the reduced demand, closure of manufacturing facilities to protect workers in all the regions, and widespread financial distress. The demand for mattresses is expected to increase post the pandemic owing to the rising number of hospital beds worldwide, in an effort to be better prepared for any such health emergency in the future.

Online To Be Faster-Growing Distribution Channel owing to Availability of Wide Range of Products at Significant Discounts

The mattress market is bifurcated into online and offline on the basis of distribution channel, of which online is expected to be the faster-growing category during the forecast period. Apart from the electronic payment and doorstep delivery conveniences offered, the COVID-19 pandemic has increased the preference of consumers for online shopping, which has led to a boom in the e-commerce industry. Furthermore, manufacturers are adopting various strategies to increase their online sales, such as giving huge discounts and coupons. Additionally, online platforms provide many options to choose from, with detailed specifications.

On the basis of product, the global mattress market is categorized into memory foam, innerspring, latex, and others. Among these, the memory foam category held the largest market share in 2020. Memory foam mattresses cradle the body in response to heat and pressure and evenly distribute the body weight, which is beneficial for people suffering from orthopedic problems, such as those related to the back. The mattress returns to its original shape once the pressure is removed. Due to these properties, consumers prefer memory foam mattresses over others.

Moreover, the market is categorized into single, double, queen, and king, based on size, among which the queen size held the largest revenue share in 2020. Queen is the preferred mattress size around the world as it provides adequate space for two and does not take up much space in the room, which is essential for smaller bedrooms.

Asia-Pacific (APAC) was the dominant market during the historical period (2014–2020), and this situation will remain unchanged throughout the forecast period. This will be due to the increasing footfall at regional hotels, which is leading to the rising demand for mattresses. Moreover, with the middle class experiencing an increase in its disposable income, it is increasingly purchasing mattresses to improve its standard of living.

Product Launches Are Key Strategy

Key players in the mattress market are focusing on launching new products. For instance, in February 2021, Tempur Sealy International Inc. introduced a new line of mattresses, which leverage memory foam and the ultra-responsive coil technology to offer durability and enhanced support.

Moreover, in January 2018, Serta Simmons Bedding LLC launched its new iComfort Hybrid mattress collection at the Winter 2018 Las Vegas Market. The new collection is designed to deliver enhanced comfort and support using cooling technologies in the iComfort Foam line of innerspring systems.

Spring Air International, Kingsdown Inc., Sleep Number Corporation, Serta Simmons Bedding LLC, Tempur Sealy International Inc., Relyon Beds Limited, Southerland Inc., Corsicana Mattress Company, and McRoskey Mattress Company are the leading players in the mattress market.