According to a new report, “Sleeping Mattress Market by Product Type (Foam, Innerspring, Latex, and Hybrid), End User (Commercial and Residential), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast 2021-2027”. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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.
The COVID-19 pandemic has been spread across all continents. The COVID-19 pandemic has created health crisis as well as deepened economic, political and social crisis worldwide. Major cities across the world have hugely impacted as people are staying indoor essentially due to lockdown. Moreover, supply chain has disrupted because movement of goods have declined due to restriction in countries. This is additionally anticipated to lead to loss of employment and income. The coronavirus pandemic has generated unprecedented crisis on the consumer goods sector.
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.
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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.
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.
The major players operating in the market are:
• Kurl-On Ltd.
• Leggett & Platt
• Paramount Beds Co. Ltd.
• Saatva
• Serta Simmons
• Silentnight Groups
• Sleep Number Corporation
• Tempur Sealy
• Spring Air
• Kingsdown.
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.
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