Mattress Market Current Analysis and Forecast (2021-2027)

The mattress market is expected to grow at a CAGR of around 6% during the forecast period (2021-2027). A mattress is a fabric case filled with a flexible and springy material, used for sleeping on it. It can be used as a bed, or on a bed frame as part of a bed. A high-quality mattress or one that suits the body with sufficient support and comfort allows the body more deep sleep. They have several health benefits such as better sleep, relieving stress, easing aches and pains, and mental health benefits. Moreover, specialized mattresses support each part of the body equally, it sufficiently supports the lower back of the body and keeps the spine in a neutral position. Improper spinal alignment can cause a whole lot of problems over time, including chronic pain, but a good mattress can help in the prevention of chronic pain, reduced range of motion, and several other problems. The increasing urban population is one the most prominent reason driving the growth of the mattress market. According to World Bank, in 2020, 56 % of the total population of the world was living in urban areas and this percentage is going to increase in the future which indicates an increasing demand for mattresses.

Based on material, the market is segmented into innerspring, memory foam, latex, and others. The innerspring segment possessed a significant share of the revenue in the market in 2020 and is anticipated to grow at a prominent growth rate during the forecast period due to increasing cases of back problems associated with uncomfortable sleeping surfaces. Innerspring mattresses are the oldest, most commonly used mattress design type. Innerspring mattresses use a metal wire system fitted with springs to create a frame covered in fabric with cushioning material used on top of the mattress for more support.

On the basis of type, the market is bifurcated into the branded and unbranded. The unbranded segment held a prominent share of the global mattress market and is expected to witness robust growth during the forecast period. This is mainly attributed to the presence of a large number of small-sized domestic players in the developing countries which are offering mattresses at a lower rate. Further, consumers have larger bargaining power when dealing with small-size players.

On the basis of size, the market is categorized into single, double, queen, and king. Queen size mattress segment held a prominent share in the mattress market in 2020 and is expected to be a prominent shareholder during the forecast period. The growth of this segment is primarily attributed to the heavy usage of queen-size mattresses in households due to the lower costs of mattresses. Furthermore, mattresses of this size can easily accommodate two adults and a child.

Based on the distribution channel, the mattress market is bifurcated into online and offline. The offline distribution channel held a prominent share in the mattress market in 2020 because consumers can choose from a variety of mattresses and try them at the store. In addition, consumers prefer reliable after-sales and faster delivery than online platforms, so they most often buy such products from offline stores.

Based on the price point, the mattress market is classified into the economy, mid, premium, and luxury. The mid segment accounted for a prominent share of the global mattress market and is expected to showcase a substantial CAGR during the forecast period. The affordability of mid-segment mattresses and the growing middle-class population in developing economies are some of the most prominent factors driving the growth of this segment.

On the basis of application, the market is categorized into domestic and commercial. The domestic segment held a substantial share in the mattress market in 2020 and is expected to witness a strong growth rate during the forecast period. The major factors driving the growth of this segment are the rising number of housing units and increased incidences of back problems. With the increasing urbanization, the demand for housing units is increasing. For instance, according to the United States Census Bureau, around 137 Mn housing units were present in the U.S. in 2017 and this number rose to more than 140 Mn units in 2020. This means around 1 million houses were built every year. This directly affects the growth of the mattress market positively.

For a better understanding of the market adoption of the mattress, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of APAC), and Rest of World. APAC holds a prominent market share owing to the flourishing tourism industry and increasing population. As the population rises, the demand for consumer goods, including mattresses, also increases. With the rise in the tourism industry, the hospitality industry is also rising which positively affects the mattress market.

Some of the major players operating in the market are Simmons Bedding Company, Sealy Technology LLC, Serta Simmons Bedding LLC, Kingsdown Inc., Leggett & Platt Incorporated, Paramount Bed Co. Ltd., Sleep Number Corporation, Southerland Sleep, Spring Air International, and Tempur-Pedic International Inc. along with other companies.