Mattress Market Size to be Worth $67.5 Billion by 2030 – Grand View Research, Inc.
SAN FRANCISCO, Oct. 24, 2022 /PRNewswire/ — The global mattress market size is expected to reach USD 67.5 billion by 2030, registering a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Increasing cases of back problems associated with uncomfortable sleeping surfaces are boosting the demand for innerspring mattresses. Another major factor driving the segment growth is the improving condition of the housing market, along with enhanced purchasing power parity across the globe. The rapidly growing real estate industry, coupled with a rise in residential and personal spaces including apartments, and houses among others across the globe, is fueling the product demand. The majority of the consumers reported that they would consider making huge purchases for the household because of a considerable amount of time spent at home, which made them notice various aspects that might need to be updated or are missing.
Key Industry Insights & Findings from the report:
- The foam segment led the industry in 2021 owing to the increased preference for these products in the domestic and commercial sectors.
- The queen-size mattress segment led the industry in 2021 on account of the low cost of these products. Moreover, these mattresses provide more sleeping space than single- & double-size mattresses.
- The household segment is expected to register the fastest CAGR from 2022 to 2030 due to the increasing availability of premium mattress products with numerous functional benefits.
- The online distribution channel segment is expected to witness a substantial growth rate over the forecast period.
- According to a blog by Sleepyhead in 2022, manufacturers are providing novel offerings, like a 100-night free trial, which would have been unthinkable a decade ago if consumers wanted to buy a mattress without going through the retail experience. Due to this strategy, buyers feel confident while purchasing mattresses online.
- Asia Pacific was the largest region in 2021 and is expected to register a considerable CAGR over the forecast period due to changing lifestyles according to the recent trends in home décor.
Read full market research report, “Mattress Market Size, Share & Trends Analysis Report By Size (Queen, King), By Type (Hybrid, Foam), By End-use (Household, Commercial), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Mattress Market Growth & Trends
In terms of value, the foam mattress segment dominated the industry and will account for the largest revenue share by 2030. Memory foam is widely used in the commercial sector, especially in hospitals, as it offers several benefits. Memory foam molds as per the body in response to heat and pressure, thereby evenly distributing body weight. The design technique of memory foam mattresses is such that it returns to their original shape once the pressure is removed. North America held the second-largest share in 2021 owing to an increased number of home renovation activities that include personalizing according to recent trends and consumer needs.
For instance, according to a remodeling survey from the National Association of Home Builders, 40% of the houses in North America are more than 50 years old anticipating there will be an increase in renovation spending in the coming years. Manufacturing these products requires low capital investment, and thus, a number of players are entering the market. This has led to price competitiveness in the industry. With changing buying behavior of consumers, premium mattresses including memory foam and latex mattresses have also been experiencing traction among consumers. In addition, increasing cases of severe back problems, mainly caused by uncomfortable sleeping surfaces, are likely to play a vital role in boosting the demand for specialty mattresses, such as airbeds, waterbeds, and foam-based mattresses.
Mattress Market Segmentation
Grand View Research has segmented the global mattress market on the basis of type, size, end-use, distribution channel, and region:
Mattress Market – Type Outlook (Revenue, USD Million, 2017 – 2030)
Mattress Market – Size Outlook (Revenue, USD Million, 2017 – 2030)
Mattress Market – End-use Outlook (Revenue, USD Million, 2017 – 2030)
Mattress Market – Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
Mattress Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players of Mattress Market
- Tempur Sealy International, Inc.
- Serta Simmons Bedding LLC
- Spring Air International
- Sleep Number Corp.
- Kingsdown, Inc.
- Southerland Sleep
- Boll & Branch
- Casper Sleep Inc.
Check out more related studies published by Grand View Research:
- Smart Mattress Market – The global smart mattress market size is expected to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.6% over the forecast period. Factors such as growing popularity of smart homes, high-speed internet availability, increasing concerns over healthy sleep, and growing smartphone penetration are anticipated to drive the market.
- Air Mattress Market – The global air mattress market size is expected to reach USD 227.2 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.6% over the forecast period. Rising awareness regarding the need for convenient sleeping to protect from diseases including back pain and pressure wound will further promote the utility of air mattress. Additionally, positive outlook towards the tourism sector at the global level on account of increasing number of professional and holiday trips among the consumers in various countries is expected to promote the use of hassle free foldable beds for extra person’s accommodation.
- Latex Mattress Market – The global latex mattress market size is anticipated to reach USD 12.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.8% over the forecast period. Growing preference for luxury lifestyle catering to better sleeping products is anticipated to fuel the growth of the market over the forecast period.
Browse through Grand View Research’s Homecare & Decor Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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