CAGR: 6.5%Current Market Size: USD 35.2 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global mattress market is expected to grow from USD 35.2 billion in 2022 to USD 58.2 billion by 2030, at a CAGR of 6.5% during the Projection period 2023-2030. The growth of the mattress market is mainly driven by rising consumer demand.
A mattress is a quilted fabric case packed with durable materials that place on top of a bed frame. It is composed of a variety of fillers, including feathers, cotton fibers, and foam rubber, as well as an arrangement of coiled springs to provide support and bounce, to keep the structure in place. It is frequently combined with memory foam to soften and adjust to the body's contour, providing support, pressure relief, and motion isolation. A mattress can also be made with gel technology, which is used to treat orthopedic issues and maintain the spine upright. It helps to improve metabolism and lowers the risk of obesity and related disorders by preventing disruption of the circadian cycle. Furthermore, It reduces the occurrence of irritability, headaches, and stress by allowing uninterrupted sleep while easing physical discomfort and improving posture. In addition, the demand for mattresses is increasing globally as it is necessary for restful sleep. At the moment, one of the key factors influencing the market favorably is the rising demand for mattresses in the residential sector as a result of increased purchases of various home furnishing products. Aside from that, the increasing construction of premium residential complexes with big apartments and other amenities for individuals is providing a positive market outlook. Furthermore, the growing number of hotels, inns, guest homes, and motels in various travel areas to accommodate tourists and guests is fueling market expansion.
Sample Request: - Global Mattress Market
Market Dynamics:
Drivers:
The need for home improvement and interior design is a major driving force in the mattress market. People are remodeling their homes to make them healthier and more practical. People prefer changing their mattresses as the market players release new types of mattresses. People will make adjustments to their living areas to increase the utility and productivity of these spaces during the pandemic year of 2020 and its subsequent years of 2021 and 2022. Home remodeling and renovations, for example, increased by 58 percent for interior design firms in 2020 as people sought to add value to their residential spaces. As living spaces transition to new home concepts, market growth will accelerate in the future.
Restraints:
Raw materials for the manufacturing of mattresses are difficult to find. While large-scale producers can easily obtain resources, small-scale producers struggle to obtain high-quality raw materials for mattress production. As a result, equal prospects for expansion in the global market are hampered.
Opportunities:
People are finally seeing the relationship between enough sleep and good health. More and more people are interested in adopting healthy lifestyles for greater health. People are replacing their mattresses since updating their mattresses can result in various health benefits. People's willingness to make tiny changes in their living spaces for greater health presents an opportunity for the mattress sector.
Challenges:
The prevalence of homemade mattresses is one of the key issues that factory-made mattresses face. Many poor and working-class families continue to choose homemade mattresses. This slows the growth of the mattress market revenue. Despite rising living standards, many people still do not purchase commercial factory-made mattresses. Apart from being inexpensive, homemade mattresses are also incredibly pleasant, and many people choose not to use commercial mattresses. As a result, the mattress market will face challenges in this area.
Segmentation Analysis:
The global mattress market has been segmented based on type, size, application, and region.
By Type
The type segment is hybrid, foam, innerspring, and others. The foam segment led the largest share of the mattress market with a market share of around 39.7% in 2022. The segment is expected to increase at the fastest rate, maintaining its lead throughout the Projection period. Because of its benefits, including pressure point alleviation, optimal spine alignment, and resistance to dust mites and allergies, foam mattresses are expected to increase steadily during the Projection period. Foam mattresses are compatible with a wide range of adjustable beds, making them a popular choice among consumers.
By Size
The size segment is king, queen, double and single. The queen segment led the largest share of the mattress market with a market share of around 40.3% in 2022. The adoption of queen mattresses has increased the popularity of queen-size beds. A queen mattress fits comfortably in the majority of bedrooms, and because of its popularity, this size is available with a wide range of accessories and linens.
By Application
The application segment is domestic and commercial. The domestic segment led the largest share of the mattress market with a market share of around 61.2% in 2022. Mattresses are being replaced more frequently as a result of greater internet sales and rapid innovation. Urbanization is a major factor driving the demand for home sleeping mattresses. Consumers are choosing superior interior designs for their homes and adding more rooms as their disposable income rises, this increasing demand for residential sleeping mattresses.
Global Mattress Market - Sales Analysis.
The sale of the mattress market expanded at a CAGR of 5.1% from 2016 to 2022.
Foam is the fastest-growing product class due to its compatibility with a wide range of adjustable beds, making it a popular choice among consumers. Mattresses are being replaced more frequently by consumers as a result of greater internet sales and quick innovation, according to end users.
Domestic sleeping mattress demand is being driven up by increased urbanization. As disposable income improves, consumers are choosing better interior designs for their homes and adding more rooms, increasing demand for residential sleeping beds. Buyers are encouraged to purchase or borrow economical sleeping arrangements when the cost of urban real estate rises.
Thus, owing to the aforementioned factors, the global mattress market is expected to grow at a CAGR of 6.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the mattress market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the mattress market and held a 38.1% share of the market revenue in 2022.
Global Mattress Market- Country Analysis:
Germany's mattress market size was valued at USD 2.5 billion in 2022 and is expected to reach USD 4.16 billion by 2030, at a CAGR of 6.6% from 2023 to 2030. The region's mattress market is expected to develop significantly as disposable income rises and the number of homes increases. There is also an increase in demand for real estate, which stimulates the sale of household goods such as mattresses, pillowcases, and other items.
China’s mattress market size was valued at USD 2.73 billion in 2022 and is expected to reach USD 4.6 billion by 2030, at a CAGR of 6.9% from 2023 to 2030. Substantial growth in the home textile business in nations such as China has resulted in an abundance of bedding textiles on the market. As a result, product use in the residential and commercial sectors has increased.
India's mattress market size was valued at USD 2.1 billion in 2022 and is expected to reach USD 3.5 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. Mattress sales in the region will rise as people become more health-conscious and recognize the value of good sleep. Furthermore, instead of typical mattresses, individuals will purchase innovatively constructed mattresses that provide various benefits and are long-lasting.
Key Industry Players Analysis:
To increase their market position in the global mattress market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
6.5% |
Market Size |
35.2 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Size, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Tempur Sealy International, Inc., Casper Sleep Inc., Serta Simmons Bedding LLC, Sleep Number Corp., Spring Air International, Southerland Sleep, Kingsdown, Inc., and Boll & Branch. |
By Type |
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By Size |
|
By Application |
|
Regional scope |
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Scope of the Report
Global Mattress Market By Type:
Global Mattress Market By Size:
Global Mattress Market By Application:
Global Mattress Market By Region:
Global mattress market is expected to reach USD 58.2 billion by 2030.
The mattress market is projected to have a CAGR of 6.5%.
Based on the type, the mattress market is segmented into hybrid, foam, innerspring, and others.
The need for home improvement and interior design is a major driving force in the mattress market. People are remodeling their homes to make them healthier and more practical. People prefer changing their mattresses as the market releases new types of mattresses.
Leading market players active in the global mattress market are Tempur Sealy International, Inc., Casper Sleep Inc., Serta Simmons Bedding LLC, Sleep Number Corp., Spring Air International, Southerland Sleep, Kingsdown, Inc., Boll & Branch among others.