The US memory foam mattress and pillow market are projected to reach values more than $8 billion by 2023
LONDON, Feb. 25, 2019 /PRNewswire/ -- The US memory foam mattress and pillow market are projected to reach values more than $8 billion by 2023, growing at a CAGR of approximately 9% during 2017-2023. The market research report also offers market size analysis in terms of unit shipment volumes during the forecast period.
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The presence of various online retailers such as Amazon, Amerisleep, and eBay will increase the convenience of the consumers and offer a diverse range of products in the US market. Futuristic inventions in the mainstream sleeping solutions and technologies would boost investors' confidence in the market over the next few years. The US memory foam mattress and pillow market are driven by the cost-effectiveness of low-end and mid-range memory foam mattresses and pillows offered online retailers. The improving employment opportunities and increasing disposable income are leading to the rise of the purchasing power of end-users in the US market. The market research report provides in-depth market analysis and segmental analysis of the US memory foam mattress and pillow market by product, distribution channel, and geography.
The study considers the present scenario of the US memory foam mattress and pillow market and its market dynamics for the period 2018?2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Memory Foam Mattress and Pillow Market in US – Dynamics
The leading vendors are focusing on marketing memory foam mattresses and pillows as healthier alternatives to traditional products in the US market. The strategy to highlight the health benefits of these products will boost revenues in the memory foam mattress market. A large group of US nationals is looking for healthier sleep products and traditional alternatives that will improve their body posture. Several players are selling latex mattresses, and innerspring mattresses with individual pocket coils are also using boxable beds to gain a larger consumer group in the US market. The trend of packaged compressed mattresses is entering into the mainstream channel of distribution in the US and becoming an established way of marketing bedding online. This trend will reduce the need to store, maintain inventory, and reduce the overall cost of mattresses, resulting in higher sales in the memory foam mattress market. The growing popularity of gel-infused and plant-based products will revolutionize the US memory foam mattress market. These mattresses were designed to give a cooling comfort to end-users and reduce heating during sleep. The introduction of products with innovations designed to offer enhanced cooling comfort and a rich sleep experience will enable companies to sustain the intense competition in the US memory foam mattress market.
Memory Foam Mattress and Pillow Market in US - Segmentation
This market research report includes a detailed segmentation of the market by product, end-users, and distribution channels. The pillow segment accounted for less than 1/4th of the total market share in 2017, growing at a CAGR of around 4% during the forecast period. These memory foam pillows are made of either a single piece of foam or shredded memory foam fillings. The vendors are designing these products to either shaped like a normal pillow or contoured to fit the shape of head or neck of the end-users. The commercial segment occupied around 1/3rd of the market share in 2017, growing at a CAGR of more than 11% during the forecast period.
The commercial segment includes the sale of mattresses and pillows to commercial users in the hospitality industry such as exclusive spas, premium hotels, international airports, and others, and healthcare facilities such as hospitals. The exponential growth of the hospitality and healthcare industries is propelling the growth of this segment in the US mattress and memory foam pillow market. The online segment in the fastest growing segment and it accounted for over 1/3rd of the total market share in 2017. The development of e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, Amerisleep, Casper, and Tuft & Needle is propelling the growth of this segment in the US market.
Market Segmentation by Products
• Mattress
• Polyurethane Foam Mattress
• Gel-Infused Foam Mattress
• Plant-Based Foam Mattress
• Pillow
Market Segmentation by End-User
• Residential
• Commercial
Market Segmentation by Distribution Channel
• Retail
• Mattress Specialty Retailers
• Furniture Retailers
• Mass Market Players
• Others
• Online
Key Vendor Analysis
The US memory foam mattress and pillow market is highly fragmented with the presence of several regional and international players. The top companies are leveraging technology to alter and refine their unique value proposition in the US market. The vendors are launching products with high functionality and comfortability to sustain the intense competition levels in the US market. The players are competing on the basis of product/service extensions, technological innovations, and M&A activities in the US market. The introduction of many innovative and advanced solutions will help vendors meet dynamic consumer demands in the US memory foam mattress and pillow market.
The major vendors in the US memory foam mattress and pillow market are:
• Serta Simmons Bedding
• Sleep Number
• Tempur Sealy International
Other prominent vendors in the US memory foam mattress and pillow market include Ashley Furniture Industries, Corsicana Bedding, Dorel Industries, Englander Sleep Products, E. S. Kluft&Company, Kingsdown, King Koil, Mattress Firm, Leggett & Platt, Restonic, Southerland Bedding, Spring Air International, Symbol Mattress, and Therapedic International.
Emerging brands in the US memory foam mattress and pillow market are Amerisleep, Bear Mattress, Casper Sleep, GhostBed, Helix Sleep, Keetsa, Loom & Leaf by Saatva, Leesa Sleep, Nest Bedding, Novaform, Purple Innovation, Tuft and Needle, and Yogabed.
Key market insights include
1. The analysis of US memory foam mattress and pillow market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the US memory foam mattress and pillow market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of US memory foam mattress and pillow market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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