NEW YORK, May 25, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Mattress Market was worth around USD 30815.2 million in 2021 and is estimated to grow to about USD 40129.4 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.5 percent over the forecast period. The report analyzes the digital remittance market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Key Industry Insights & Finding of the Mattress Market Reports:
- As per the analysis shared by our research analyst, the Mattress Market is expected to grow annually at a CAGR of around 4.5 % (2022-2028).
- Through the primary research, it was established that the Mattress Market was valued approximately USD 30815.2 Million in 2021 and is projected to reach to roughly USD 40129.4 Million by 2028.
- Asia Pacific, with two highly populated countries, China and India, is the most lucrative market for the sales of mattresses and is expected to dominate the global market over the forecast period.
- High population and disposable income are projected to drive the global market in developing countries of APAC and Latin America such as India, Brazil, and South Africa.
- The European market is expected to witness significant growth in the coming years owing to an increasing consumer shift towards large houses and a growing preference for multiple bedrooms in the house.
Zion Market Research published the latest report titled as "Global Mattress By Product Outlook (Innerspring, Latex, Memory Foam, and Others), By Application (Domestic and Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 - 2028." into their research database.
Mattress Market: Overview
A mattress is a large four-sided pad filled with cotton, foam rubber, or an arrangement of coiled springs. It can also be filled with water, air, or a variety of natural fibers. It plays an important role in giving the correct support and comfort to the body, keeping the spine in a neutral position, and easing sleep. It helps to achieve adequate, quality nighttime sleep and promotes good form and posture. It also helps to keep your mental health and emotional health in check. Due to its adverse health benefits, rising demand from the real estate sector to serve the residential needs has led to an increase in the sale of home furnishings such as mattresses, pillowcases, and bed linen thus, thereby supplementing the demand for the product. Increased occurrences of back problems caused by uncomfortable sleeping surfaces are likely to play a vital role in the growth of specialty mattresses such as airbed, waterbed, and foam-based mattresses.
Growing residential units and improved standard of living have created a demand for mattresses all over the country. Additionally, every new hotel requires hundreds of beds and mattresses, and this particular industry appears to be thriving, owing to growth in the construction, real estate, tourism, and hospitality sectors.
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Industry Dynamics:
Mattress Market: Growth Dynamics
Drivers: Increasing construction of residential complexes and growing instances of back and posture-related problems.
The desire for home renovation and interior design is a huge driver of the global mattress market. People are renovating their living spaces to make them healthier and more functional. As the Market introduces new types of mattresses, people prefer switching up their mattresses with time. Also, people becoming more health-conscious are keen on taking care of their back problems and investing in good mattresses for their posture-related problems. These factors are fueling the growth of the global mattress market.
Restraints: Fluctuations in raw material prices.
The sourcing of raw materials for the manufacturing of mattresses is a restraint. Mattress producers do not easily source the raw materials to produce mattresses. While large-scale manufacturers can easily source the materials, small-scale manufacturers often fail to get hold of high-quality raw materials for mattress making. This, eventually, hampers equal opportunities for growth within the global market.
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Global Mattress Market: Segmentation
- The global Mattress market is segregated based on product outlook and application.
By product outlook, the global market is distinguished into Innerspring, Latex, Memory Foam, and Others. Out of these bifurcations, the innerspring will dominate by demand and Market share. as these types of mattresses are highly durable with a long lifetime and offer good ventilation. Innerspring mattresses are not only comfortable for sleeping but also budget-friendly since they are usually made of low-cost material, which makes them highly affordable for price-sensitive markets like India. Therefore, they are popular among middle and lower-income groups.
By applications, application, the global market is bifurcated into Domestic and Commercial. The commercial sector includes hotels, lodges, and hospitals, where beds are used regularly. However, the residential segment will get a boost in mattress purchases as disposable incomes grow over time. The sale of mattresses to the commercial segment had taken a hit during the pandemic, and it will revive in the future.
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List of Key Players of Mattress Market:
- Avon Marine
- Azimut Benetti S.p.A.
- Baja Marine
- Bavaria Yachtbau GmbH
- Bombardier Recreational Products (BRP) Inc.
- Brunswick Corporation
- Farr Yacht Design, Ltd.
- Groupe Beneteau.
Key questions answered in this report:
- What are the growth rate forecast and market size for Mattress Market?
- What are the key driving factors propelling the Mattress Market forward?
- What are the most important companies in the Mattress Market Industry?
- What segments does the Mattress Market cover?
· How can I receive a free copy of the Mattress Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 30815.2 Million |
Revenue forecast in 2028 | USD 40129.4 Million |
Growth Rate | CAGR of almost 4.5 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Million), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Farr Yacht Design, Ltd.; and Groupe Beneteau. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/1934 |
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Recent Developments:
- In March 2022, Duvalay claims the solution to nighttime overheating and sleep sweats with its freshtec cooling mattress topper. The topper fits over your existing mattress and functions as a second, much thinner mattress on which you can sleep. The Duvalay freshtec is made of foam, but it is designed to combat some foam mattresses' impact of reflecting heat to you as you sleep. The Duvalay freshtec has a cell structure that allows for free air circulation.
- In April 2018, Kingsdown Inc. declared its merger with Owen & Company, a manufacturer of handcrafted luxury mattresses, working in Canada under the Kingsdown brand. This merger is supported by Novacap, a Canadian private equity firm.
- Kurlon Enterprise Limited introduced the Kurlopedic technology, which is helpful in making the mattress better and more durable. It provides uniform space and good back support and comfort throughout the night.
Regional Dominance:
·Increasing consumer shift.
The Asia Pacific, with two highly populated countries, China and India, is the most lucrative market for the sales of mattresses and is expected to dominate the global market over the forecast period. High population and disposable income are projected to drive the global market in developing countries of APAC and Latin America such as India, Brazil, and South Africa. Followed by it, North America has the largest market value in the mattress market. The European market is expected to witness significant growth in the coming years owing to an increasing consumer shift towards large houses and a growing preference for multiple bedrooms in the house. Demand for mattresses in the healthcare industry is growing in nursing homes, clinics, and hospitals.
Global Mattress Market is segmented as follows:
Mattress Market: By Product device Outlook (2022-2028)
- Innerspring
- Latex
- Memory Foam
- Others
Mattress Market: By Application Outlook (2022-2028)
- Domestic
- Commercial
Mattress Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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