NEW YORK, Oct. 25, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Mattress Market by Product (Memory foam, Gel, Innerspring, Water bed, Air bed, Latex Mattress, and Adjustable bases), by Size (King size, Double size, Queen, Twin XL, Twin), by End-User (Hotel industry, Household, Hospitals, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028''. According to the report, global mattress market was valued at around USD $29.63 billion in 2021 and is expected to reach approximately $42.84 billion in 2028, growing at a CAGR of slightly above 4.6% between 2021 and 2028.
Market Growth Drivers
Massive focus on good sleep for enhancing health of an individual has accounted majorly towards the overall market size in the recent years. In addition to this, humungous popularity of natural & organic mattresses across the globe will propel the business space in the years to come. Additionally, thriving eCommerce and online retail sectors will proliferate the expansion of mattress industry over the estimated timeframe. Moreover, massive internet and smartphone penetration across the globe will boost the business growth trends.
Furthermore, rise in the residential housing activities as a result of manifold increase in the global population will prompt the market progression over the forecast timeline. Additionally, large-scale utilization of various home furnishing products is set to create huge industry demand over the forthcoming timeline. The growing preference for premium home décor items will bolster the market revenue in the years ahead.
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North American Market to Accrue Maximum Gains By 2028
The expansion of the industry in sub-continent over the forecast timespan is due to large-scale preference for mattresses of varied shapes & sizes in the countries like Canada and the U.S. Apart from this, rise in the construction of hotels, restaurants, and residential buildings in the region will account substantially towards industry size in the sub-continent over the years to come. A prominent increase in the purchasing capacity of the residents with increment in their per capita income will tilt the regional market growth graph towards the positive axis. Increase in the tourist activities resulting in improved lodging & boarding amenities in hotels & restaurants and demand for premium & luxury goods in the countries like Canada and the U.S. will embellish the industry growth in North America.
The global mattress market is classified according to its products as memory foam, gel, innerspring, water bed, air bed, latex mattress, and adjustable bases. Innerspring is projected to dominate the global mattress market over the forecast period. The significant share of the segment is attributed to rising incidence of back disorders, related to uncomfortable sleeping surfaces. Increasing number of affording customers in emerging nations are demanding premium innerspring technology mattress.
Based on the size, global mattress market is categorized as king size, double size, queen, twin XL, and twin. Queen size mattress is anticipated to have maximum revenue share that is most suitable for apartments and are popular in metropolitan cities. Double size mattress is projected to witness maximum gains over the forecast timeframe. Various end-use industries deploying mattress are hospitals, household, hotel, and others. The household is estimated to contribute majorly in demand of mattress owing to the rising number of household and nuclear family trends.
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The global mattress market is divided into prominent regions such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America is projected to register maximum gains till 2024 due to customer inclination towards best quality mattress along with brand consciousness. Growing incidence of sleeping disorders is also enticing spending on comfortable mattresses in the region.
Key participants profiled in the study are Southerland Bedding Co., Select Comfort, Paramount Bed Holdings Co. Ltd., Serta Inc., KING KOIL Inc., Kingsdown Inc., Spring Air Company, Sealy Corporation, Simmons Bedding Company LLC, and Tempur-Pedic International Inc.
The report segments the global mattress market as follows:
Mattress Market: Product Segment Analysis
- Memory foam
- Water bed
- Air bed
- Latex mattress
- Adjustable bases
Mattress Market: Size Segment Analysis
- King size
- Double size
- Twin XL
Mattress Market: End-User Segment Analysis
- Hotel industry
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- The U.S.
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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