psalexa

U.S. Mattress Market To Generate $22,519.9 Million Revenue by 2030

Published Date:   September 2020

The rising per capita disposable income has been observed as a major driver for the growing construction industry in the U.S., primarily for residential spaces. This is the major factor that is poised to drive the U.S. mattress market at a CAGR of 3.5% during 2020–2030 (forecast period).

The COVID-19 pandemic is negatively impacting the U.S. mattress market, as the measures taken to contain the virus spread in the country have hit mattress sales. Job loss due to this pandemic has risen significantly, which has led to a decline in consumer spending, as only essential products and services are being given priority.

Innerspring Category To Contribute Highest Revenue To Market

The U.S. mattress market, under segmentation by product, is categorized into innerspring, memory foam, latex, and others, wherein others include hybrid, gel-type, water-type, and air-type mattresses. Among these, the innerspring category is projected to hold the major share in 2030, as such mattresses offer good support to the body, which helps in relieving body stress.

Based on mattress size, the U.S. mattress market is categorized into single-size mattress, double-size mattress, queen-size mattress, and king-size mattress. Among these, the king-size mattress category would experience the fastest growth over the forecast period, driven by the rising disposable income of the populace in the country. Apart from this, the drop in prices is enabling the populace, predominantly millennials, in the country to afford king-size (including California king) mattresses.

In 2019, the southern region held the largest share in the U.S. mattress market. This is primarily attributed to the fact that cities in the southern part of the country have larger populations and higher per capita incomes than many other regions.

Partnerships: Major Strategic Tool to Compete in Market

In order to have a competitive edge, players in the U.S. mattress market are engaging in the streamlining of their distribution channels through partnerships.

In June 2019, Tempur Sealy International Inc. broadened the distribution channels for its bedding products by entering into two new third-party retail relationships and expanding an existing retail relationship. The company signed new long-term supply agreements with Mattress Firm and Big Lots in the U.S. and Beter Bed Holding in Europe. This agreement is helping increase the sale of entry-level Sealy products, primarily in the below-$1,000 retail price point, a segment that has been the focus of the company.

Key players in the U.S. mattress market include Serta Simmons Bedding LLC, Tempur Sealy International Inc., Casper Inc., Purple Innovations Inc., Leesa Group LLC, Spring Air International, Sleep Number Corporation, Saatva Inc., Kingsdown Mattress, and Corsicana Mattress Company.