New York, Oct. 10, 2023 (GLOBE NEWSWIRE) --
The global bed mattress market size is expected to expand at 7.90% CAGR from 2022 – 2030. The market is anticipated to garner a revenue of USD 1.16 Billion units by the end of 2030, up from a revenue of USD 425.15 million units in the year 2022. As people become more aware of the importance of a good night's sleep, the demand for comfortable sleep solutions has skyrocketed. Numerous[R1] research studies have indicated that getting adequate sleep can improve our ability to perform precise movements react quickly and maintain both muscular strength and endurance. This growing demand is not just limited to traditional innerspring mattresses. Consumers are increasingly seeking out new technologies and materials that can provide even greater comfort and support.
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Bed Mattress Market: Key Takeaways
- Market in North America to propel highest growth
- Spring/Coil segment to garner the highest growth
- Market in Asia Pacific to grow at a significant rate
Innovative Technologies and Materials to Boost Market Growth
The bed mattress market is experiencing a surge in innovation, with new technologies and materials constantly being introduced to improve sleep quality and comfort. One example of this is the use of memory[R2] foam, which molds to the shape of the body to provide personalized support and pressure relief. According[R3] to a survey approximately 67% of consumers, in the United States believe that memory foam mattresses are the top choice when it comes to mattresses. Another example is the use of gel-infused[R4] foam, which helps regulate body temperature and prevent overheating during sleep.
In addition to foam, other innovative materials being used in mattress design include latex, which is naturally hypoallergenic and resistant to dust mites, and organic cotton, which is free from harmful chemicals and pesticides. These materials not only provide a more comfortable sleeping experience, but also promote better health and well-being.
Bed Mattress Market: Regional Overview
The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Demand for Comfort Mattresses to Drive the Growth in the North America Region
The bed mattress market in North America region is estimated to garner the largest revenue by the end of 2035. This growth can be attributed to the increasing number of international and domestic tourists as well as the rising disposable income of consumers in the region. The annual mattress sales, in the United States are estimated to be 37[R5] million. Additionally, the increasing demand for comfort mattresses due to the rising popularity of home gyms and home yoga studios has also contributed to market growth. The yoga industry in the United States generates an annual revenue of over USD 10 billion with a substantial number of yoga and pilates studios totaling more than 40,400[R6] , across the country. The growing demand for yoga and pilates studios has also increased demand for mattresses, as people are looking for more comfortable mattresses to lie on when practicing yoga and pilates.
Rise In Housing Start Construction to Drive the Growth in the Asia Pacific Region
The Asia Pacific bed mattress market is estimated to garner the largest revenue by the end of 2035. This rise in housing start construction is likely to lead to an increase in demand for Asia-Pacific bed mattresses, as people will need to invest in new mattresses for their new homes and apartments. In 2021 China saw the construction of 6.7[R7] million new residential properties. Moreover, mattresses are most popular in the Asia Pacific region compared to parts of the world accounting for 39% of the global market. This can be attributed to the populations in both China and India. It is estimated that the total population in Asia Pacific exceeds[R8] 3.7 billion people.
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Bed Mattress Segmentation by Type
- Spring/coil
- Memory Foam
- Latex
The spring/coil segment is anticipated to hold the largest revenue by the end of 2035. Spring/coil mattresses are widely available and are also quite durable. This makes them an attractive option for many consumers who are looking for a more affordable mattress that will last for many years. Additionally, they are relatively easy to maintain and can be easily replaced if damaged. The segment has also experienced growth due to the emergence of innovative products. As an example, the Saatva[R9] Brand launched a product in May 2019 targeting individuals, with a weight range of 300 to 500 pounds. This product features high-density foam to provide improved support and a durable coil material that can handle heavy loads.
Bed Mattress Segmentation by Distribution Channel
- Online
- Offline
The online segment is anticipated to hold the largest revenue by the end of 2035. This can be attributed to the increased convenience of online shopping, the availability of a wide range of products, and the growing use of digital payment solutions. According to research, 55% of consumers in the US purchase mattresses online instead of visiting physical stores. This percentage has shown an increase compared to 2018 when it was 46%. Additionally, a majority of consumers 60[R10] % express their preference, for buying their next mattress through online platforms in 2023. Additionally, the rise of e-commerce platforms and the increasing use of mobile phones have made it easier for people to shop online.
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Bed Mattress Segmentation by Application
- Residential
- Commercial
A few of the well-known market leaders in the global bed mattress market that are profiled by Research Nester are Kingsdown Inc., Kurlon, Leggett & Platt, Incorporated, PARAMOUNT BED CO., LTD., Sealy Technology LLC, Serta, Inc., Simmons Bedding Company, Sleep Number Corporation, Southerland Sleep, Spring Air International, and other key market players.
Recent Developments in the Market
- Spring Air International has expanded its operations in Europe in Turkey, Hungary and Bulgaria. This expansion was made possible through a license agreement signed with a company based in Ankara, Turkey called Isbir Bedding.
Tempur Sealy, Inc. has successfully completed the acquisition of Dreams, a prominent bed retailer in the United Kingdom. This strategic acquisition is anticipated to have an impact on Tempur Sealys global sales as it is expected to double their revenue. Additionally, this move will help accelerate their growth within the UK market.
About Research Nester
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