Mattress and Mattress Component Market – Snapshot
Mattresses have evolved over the years. In past years, mattresses were made of hair, feather, and straw. These days, mattresses are made of flexible polyurethane foams, innersprings, latex, and other products. In the last 10-15 years, there has been a major shift in awareness about mattresses and a consequent change in buying behavior among consumers. Growing health concerns, problems associated with sleeping disorders, and availability of attractive, stylish, decorative mattresses are the major factors driving the demand for mattresses globally. The applications of new advanced technology like Gribetz Batch Pro Panel Cutter, Sleeptracker technology in mattress production, and new product innovations have changed the scenario of the global mattress market, transforming the market from a low-growth market to a comparatively fast growing one. Currently, the market holds a broad range of products for consumers across all income groups and demographics.
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Another factor driving the growth of the mattress industry is the rise in construction activity. Both commercial and residential construction is on the rise globally especially in the U.S. owing to economic and political stability in the region. Housing and hospitality sectors are primarily supporting this growth. The commercial sector, which includes hotel industries, offices, and institutions, and healthcare industry among others has seen robust growth in the past few years and is expected to witness similar growth in the coming years. Apart from this, changing consumer trends in home renovation is also fueling market growth. Majority of homeowners are undertaking home improvements to refurbish and to add value to their houses. Remodeling homes is the most popular renovation followed by wallpapering, painting, and carpeting among others. Consumers spend lavishly on home renovation in developed regions such as the U.S. and U.K due to improved economic conditions. Demand for mattresses is expected to drive the growth of the market over the forecast period due to these factors. Other influencing factors such as new product offerings with added features through research and development are fueling the mattress market. Increasing obese population, growing prevalence of pressure ulcers, and rising awareness among consumers regarding health is propelling the demand for specially designed medical mattresses such as gel filled mattress, water bed mattress, and air filled mattresses. However, despite all these driving factors, high manufacturing cost of mattresses is anticipated to restrain the global mattress market.
In the report, the mattress market is segmented by product type, mattress size type, mattress component, and by geography. Based on product type, the mattress market is segmented into memory foam mattress, hybrid mattress, innerspring mattress, and latex mattress among others. Others product segment includes gel filled mattress, air filled mattress, and water bed mattress. Based on mattress size type, the market is bifurcated into twin or single size mattress, twin XL size mattress, full or double size mattress, queen size mattress, and king size mattress among others. Others mattress size segment includes California king or king long size mattress and grand size mattress or super king size mattress, and athletic king size mattress. In terms of component, the mattress market is bifurcated into foam which includes Polyurethane Foam, Polyethylene Foam, Visco-Elastic or Memory Foam Gel Foam, Polyester Foam, Latex Rubber Foam, Convoluted Foam and Evlon, Innerspring or Coils includes Bonnel Coils, Pocket Coils, Continuous Coils and Offset Coils, Latex includes natural and organic. Fillings include coir, wool, and cotton, and ticking.
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Geographically, the mattress market is bifurcated into North America, Asia Pacific, Europe, and Rest of the World (RoW). Regionally, Asia Pacific accounted for the largest market share in 2015 and is anticipated to grow steadily due to increasing demand from leading markets such as China, India, and Australia. A growing urban population ready to spend extra for comfortable and luxurious spacious bedding accessories, accelerates the demand for mattresses in this region. In addition, a rising number of health conscious people are ready to pay considerable amounts for products which are beneficial to health in this emerging economy. Thus they choose good quality mattresses for sound sleep, leading to increased demand for mattresses. Innerspring mattress constituted majority share in terms of revenue in the Asia Pacific mattress market in 2015 and this trend is expected to continue over the forecast period. In India, the mattress market is highly competitive and dominated by leading players such as Sleepwell, Springfit, Springwel, and Kurlon. North America held the second largest market share in 2015. The U.S. and Canada have emerged as key mattress markets in North America. Rising incidence of sleep disorders in the U.S. and Canada and greater awareness regarding mattress durability is anticipated to drive growth of the mattress market in North America. Emerging economies of Latin America and Middle East are expected to take the lead in the adoption of different types of mattresses. In addition, increasing construction activities in the commercial and residential sector is further fueling demand for mattresses in Europe, Latin America, and the Middle East. Worldwide, the mattress market is set to display strong gains due to growth in emerging markets such as China, Brazil, Canada, India, and Germany.
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Key players in the mattress market include Tempur-Pedic International, Inc., Simmons Bedding Company LLC, Serta, Inc., Spring Air Company, Select Comfort, Southerland Bedding Co., Sealy Corporation, Kingsdown, Inc. King Koil, Inc., Zhejiang Huaweimei Group Co. Ltd., Silentnight Group, Relyon Limited among others.
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