Global sales of mattresses are set to increase at a CAGR of around 7% and reach a market valuation of around US$ 39 Bn by 2031, mostly driven by increased of variety of offerings in mattresses.
The expanding hospitality and healthcare sectors are looking to increase their business by providing end users with improved facilities and services. Thus, demand for mattresses from these sectors is likely to open up new growth opportunities for market players. Furthermore, increasing number of luxury hotels, healthcare centers, and other facilities that provide hospitality services is boosting sales of mattresses. Hotels are likely to account for a sizable portion of worldwide mattress sales, as hotel mattresses are changed more frequently than those used at home.
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- King Koil, for example, specializes in providing mattresses to high-end hotels such as the Hyatt Regency, JW Marriott, Le Meridien, and Westin Hotels & Resorts.
Furthermore, a large number of businesses are delivering mattresses to hotels on a contract basis at low prices, resulting in huge increase in volume sales.
Also, increased Internet penetration and promotional activities are factors raising customer knowledge of the importance of using a comfortable and high-quality mattress to maintain a healthy lifestyle. This is causing a shift in customer behavior when it comes to mattresses, resulting in a huge increase in mattress sales.
In addition, manufacturers are concentrating on developing mattresses with superior cooling technologies.
- Serta Inc., for example, debuted the iComfort hybrid mattress in 2018, which featured a new coil support system and TempActiv cooling technology. Copper cures pain, raises overall energy level, and has other benefits.
Key Takeaways from Market Study
- Innerspring mattresses are expected to contribute significantly to global market growth. Product-related features such as lightweight and capability to provide ultimate body support have boosted their popularity among customers.
- Queen size mattresses are predicted to hold the biggest market share due to their increasing popularity.
- East Asia is expected to hold a notable share in the global mattress market due to the presence of a large number of households and significant number of mattress manufacturers across the region.
“Manufacturers of mattresses can gain substantial profits in South Asia and East Asia by offering innovative mattresses at economic prices to the low- and middle-income demographic in these regions,” says an analyst at Persistence Market Research.
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Key Market Players
The report underlines ground-breaking insights into the competitive scenario of the mattress market, along with the highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include Spring Air International, King koil, paramount Bed Co. Ltd., Relyon Beds, Casper, Simba Sleep limited, Dormeo UK Limited, Dreams Ltd., Kurl-on, Jinboama Furniture Manufacturers, Ministery of Sleep, Duroflex, Pvt. Ltd., M.H. Polymers Pvt Ltd., Talalay Global, Latex Global, and Sheela Foam Limited, among others.
Know More about Report Inclusions
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The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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