Mattress Market Headed for Growth and Global Expansion Owing to Incremented Demand From the Domestic & Commercial Sectors Till 2025 | Million Insights
FELTON, California, Feb. 25, 2020 /PRNewswire/ -- In line with the report published by the experts in 2018, the scope of the global Mattress Market was appreciated at US$ 27.5 billion. It is estimated to grow by a CAGR of 6.7% during 2019 to 2025 to touch US$ 43.2 billion by the completion of forecast period.
Drivers:
The gush in home possessions, which is approximately 69.6% all over the world together with increasing per head earnings is likely to power the demand for the mattresses during the period of forecast. Increasing demand from the subdivision of real estate to help the housing necessities has headed to a rise in sale of home-based furnishings for example bed linen, pillowcases and mattresses. As a consequence, increasing the demand for the product. One of the most important reasons motivating the global mattress industry is progress of the hospitality and healthcare businesses.
Augmented occurrences of back problems instigated mostly by way of painful sleeping surfaces are expected to perform an important part in the development of specialty mattresses for example foam-based, airbed and waterbed. These are mostly used by innovative hospitals, together with modernized old healthcare organizations, that have backed considerably to the demand for these types to deliver comfort to all type of patients and the concierges. The innerspring type is reasonably priced and easily available. It will boost up the demand all over the world. In 2018, it had a market share of 32.5%.
In the subdivision of commercial usage, the hotels are the foremost end users of mattresses. As compare to residential users, the hotels change it more frequently. Normally, domestic users use their mattresses for 9-10years and then change it. However, for the subdivision of hospitality it takes all-out 5-6 years to change their mattresses. Therefore, the commercial sector is estimated to grow by a CAGR of 7.1% during the period of forecast as equated to the subdivision of domestic use.
Classification:
The global mattress market can be classified by Application, Product, Size and Region. By Application it can be classified as: Commercial, Domestic. By Product, it can be classified as: Memory Foam, Innerspring, and Latex. By Size, it can be classified as: King Size, Queen Size, Double Size and Single Size.
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Regional Lookout:
By Region the global mattress industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. With reference to price, the Asia Pacific market is projected to increase by a CAGR of 7.3% during the period of 2019 to 2025. Owing to the arrival of brands similar to Kurl-On, Stearns & Foster and Dunlop, the demand in the market is expected to increase, all over the world, particularly for the subdivision of latex and innerspring. Due to the huge population in the nation states similar to China, India and Sri Lanka, Asia Pacific is between the biggest customers for the product. In this manner heading to the better demand for the product.
Furthermore, greater per head earnings is expected to motivate the global mattress market in emerging nation states of Asia Pacific and Latin America for example Brazil and India .Brazil takes the most important share of the market for the memory foam and latex, because the consumer has the experience of superior comfort of sleep and therefore the hotels within these areas take a greater demand for these type. For example, At the Edsa Shangri-La Hotel in Manila, Paramount Bed Asia Pacific Pte., Ltd. underway their business with variance trading to deliver best quality mattresses on a contract base.
Due to growing swing of the customers in the direction of big houses and increasing favorite for many bedrooms in the house, the European market is likely to observe substantial development during the period of approaching years. In the subdivisions of hospitality and healthcare, within this region, the demand for the product is greater. In the subdivision of healthcare industry the demand for it is increasing in hospitals, nursing homes and clinics. For example, Feather & Black and Bensons for Beds are manufacturing first-class products in reasonable price range for the subdivision of domestic use and accordingly enhancing the sales in the most important European cities.
Companies:
Several manufacturing companies are increasing their capacity of manufacturing and firming up their worldwide existence with the aim of upsurge their share of market. The companies are developing hybrid mattresses because the users are ready to bear additional prices. Such as in January 2018, Serta Inc. presented a new-fangled collection called I Comfort, those were prepared by means of hybrid technology.
Some of the important companies for mattress market are: McRoskey Mattress Company, Southerland Inc., Serta Inc., Simmons Bedding Company LLC, Kings down Inc., Corsicana Mattress Company, Rely on Limited, Tempur Sealy International Inc., Sleep Number Corporation and Spring Air International.
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Market Segment:
- Mattress Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Innerspring
- Latex
- Memory Foam
- Others
- Mattress Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Domestic
- Commercial
- Mattress Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
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