According to a new report published by Allied Market Research, titled, “Sleeping mattress Market segment includes Product Type, Sales Channel, and End User: Opportunity Analysis and Industry Forecast, 2021–2027, report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The sleeping mattress market size was valued at $33.2 billion in 2019, and is estimated to reach $39.9 billion by 2027, registering a CAGR of 5.2% from 2021 to 2027.
Rapid urbanization and expansion of the hospitality industry, rise in prevalence of back and posture-related concerns, and ongoing innovations drive the growth of the global sleeping mattress market. North America accounted for the highest share in 2019, and is estimated to maintain its dominant share by 2027. Owing to lockdown restrictions, manufacturing activities have been hindered, raw material supply hindered, and the entire supply chain disrupted.
Sleeping mattress is defined as a large as well as rectangular pad for supporting a lying person. In addition, it is designed to be used as a bed or on a bed frame as part of a bed. Moreover, sleeping mattresses may consist of a quilted or similarly fastened case, usually of heavy cloth, containing materials such as hair, straw, cotton, foam rubber, or a framework of metal springs and it may also be filled with air or water. Due to COVID-19 pandemic consumers are staying in their homes and urge for comfort. This has led to a change in market dynamics, leading to an increased demand for sleeping mattress. In addition, increasing urge for luxuries sleeping mattress among consumers is also linked with fascination for premium and customized sleeping mattress.
The COVID-19 pandemic has had a strong impact on the sleeping mattress market. However, with the presence of online shopping as well as doorstep delivery sleeping mattress market witnessed a pace in demand over the mid-months of 2020. In addition, barriers to movements of goods have forced the market to depend on domestic production and local manufacturing.
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Also, many consumers seek comfort ability in their homes. Owing to this, the demand for sleeping mattress surged, keeping the market afloat during the year-long pandemic period. It is also seen that branded mattress have gathered more fan base on social media websites, but the impact of counterfeit products still prevailed largely, as consumers seek low price, better design, and suitable durability from such mattress.
Rise in complications of poor posture include back pain, spinal dysfunction, joint degeneration, rounded shoulders and a potbelly. Furthermore, over the time, poor posture demands support from fibres causes the deeper supporting muscles to waste away from lack of use. In addition, weak as well as unused muscles tend to tighten and this shortening of muscle length can compact the bones of the spine (vertebrae) and worsen posture creating lot of opportunities for sleeping mattress manufacturers. Moreover, manufacturers in this market can develop convenient as well as luxuries mattress for consumers.
Key Market Players Profiled In The Report:
○ Kurl-On Ltd.
○ Leggett & Platt
○ Paramount Beds Co. Ltd.
○ Saatva
○ Serta Simmons
○ Silentnight Groups
○ Sleep Number Corporation
○ Tempur Sealy
○ Spring Air
○ Kingsdown.
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Key findings of the study:
○ On the basis of end user, the residential dominated the sleeping mattress market in 2019, and is projected to exhibit a CAGR of 5.1%.
○ By product type, the hybrid segment led in terms of the sleeping mattress market share in 2019, and is estimated to grow at a CAGR of 7.1% during the forecast period.
○ Depending on distribution channel, the offline segment is expected to garner the largest market share in the coming years.
○ Asia-Pacific was the leading region in 2019, and is expected to retain its dominance during the forecast period.
Key Benefits For Stakeholders
○ The report provides a quantitative analysis of the sleeping mattress market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
○ In-depth analysis and the sleeping mattress market size and segmentation assist to determine the prevailing sleeping mattress market opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sleeping mattress market.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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