Mattresses of Today Offer Increased Health Benefits

Transparency Market Research (TMR) has recently added a new report on the global mattress market to its repository. Growing income of people, especially in developing countries such as India and China, has improved their living standards, which has also led to the growing demand in the global mattress market. Ways and means of home decoration have also transformed vastly due to globalization. Moreover, the growing emphasis on healthy sleep to improve overall health has also contributed to triggering the growth of the global mattress market. Thus, the growing importance of mattresses on a regular basis has encouraged researchers to analyze various parameters contributing to the growth of this market. A concise report pertaining to all these factors will benefit stakeholders in the mattress market to make better decisions in the coming years.

global mattress market key strategies

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Global Mattress Industry Transformation over the Decades

The evolution of the bedding industry dates back to thousands of years, and has differed from culture to culture. The mattress component industry has undergone huge changes, as in the olden days, mattresses were meant mainly for the elite, and as time went by, they became easily available for the masses. In the 20th century, the mattress market went through a revolution, as different types of mattress were introduced into the market. During this period, innerspring and memory foam mattresses gained huge popularity, and their demand skyrocketed. Mattresses have come a long way since the most primitive grass-lined beds. But the basic concept has remained unaffected; a cozy, comfortable, and safe spot to sleep and restore one’s energies all through the night.

Nowadays, mattresses have become more about comfort and preference, which has forced mattress manufacturers to innovate as far as material and size are concerned. The increasing preference for spacious living has given more choice than ever before when it comes to styling a bed and mattress; this has sowed the seeds for innovation in mattresses regarding size, type, material used, etc. Innerspring, memory foam, latex, hybrid, air, and water are a few types of mattresses that are widely available across the globe. In 2017, the global mattress market was valued at ~ US$ 37 billion, which is expected to reach ~ US$ 68 billion by the end of 2027.

Ongoing Trends Changing Market Dynamics

Organic Mattresses – A New Product Attracting Large Number of Customers

One of the revolutionary trends seen in the global mattress market is the growing demand for natural and organic mattresses. The demand for organic products has grown significantly over the years; this is also seen in the mattress market, where nowadays, people are inclined towards organic mattresses. Players are now offering different varieties of organic-based mattresses that are made from hypoallergenic materials. Rise in awareness among consumers about the harmful effects of synthetic mattresses has shifted their preference toward organic mattresses. People suffering from breathing problems prefer organic mattresses to avoid unwanted health problems that are caused by synthetic material.

Pesticides and toxic chemicals are not used in organic mattress, which helps in enhancing sleep quality with minimum effect on the skin and hair, and reduces the chances of skin allergies. Among the various natural materials used for manufacturing organic mattresses, latex, wool, and cotton are widely used. With the increasing demand for organic and natural mattresses, a large number of players are making deliberate efforts to use organic materials while manufacturing their products. However, customers who prefer organic mattresses face a few issues regarding their price and limited availability. Also, there are fewer players offering organic mattresses in the market, which can also be a challenge for customers in opting for the right organic mattress.

Mattress Industry Leveraging e-Commerce for Sales

In this technological era, online platforms have largely benefitted the sales of numerous products across the globe. e-Commerce software platforms have also augmented the sales of mattresses across the world. Having said that, a large number of customers still prefer purchasing mattresses offline from retail stores or supermarkets. However, offering a box selling delivery option that delivers mattresses directly to doorsteps has gained huge popularity among mattress players during the last few years. Nevertheless, while making a purchase online, customers can compare various websites, sizes, shapes, and materials, and can choose a mattress that suits their needs the best. Therefore, players are understanding the importance of online sales and are incorporating online marketing strategies to increase their product sales.

The success of online platforms can differ from region to region; for example, Amazon is gaining traction for mattress sales across Asia Pacific, except China. Additionally, manufacturers are also developing online sites to increase the sales of their products. According to our report, the value of the online distribution channel is projected to reach ~ US$ 25 billion by the end of 2027.

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Strategies Effective for Growth of Players

Players Banking on Advanced Technologies

Prominent players in the global mattress market are relying on advanced technologies to provide better sleep with increased comfort. Mattress manufacturers are keen on adopting the effective foam technology. Additionally, the biometric sensors technology has also caught the attention of manufacturers, as it tracks an individual’s sleep patterns during the night. A large number of mattress manufacturers are deploying biometric sensor technology that will help track the sleep patterns of customers. Customers, on the other hand, are also eager to adopt advanced technologies that help in monitoring their sleep. Advanced digital technologies having access to IOT-based devices are also being widely incorporated by mattress manufacturers into their new products.

Product innovation through advanced research and development is the key in the mattress industry. Manufacturers have developed a wide range of products by implementing advanced technologies. Plant-based foam mattress technology is one of the notable technologies that use bamboo, soy, aloe vera, tea, and others; mattresses made from these materials release heat ten times faster than polyurethane foam mattresses, which are ideal for people suffering from back problems and related issues, and are also widely used in colder regions around the world. This technology has gained widespread attention, and is gradually being incorporated by market players on a large scale.

Asia Pacific Offers Lucrative Opportunities for Mattress Manufacturers

Countries with a high population base along with increasing spending capacity are key markets for the increased sales of mattresses. Asia Pacific, with two highly-populated countries, China and India, is the most lucrative market for the sales of mattresses. As half of the world’s population resides in South East Asian countries, mattress manufacturers can concentrate on these regions to gain a larger customer base for their products. Increasing standard of living, high purchasing capacity, and huge population base have increased the demand for mattresses in this region. The growing use of online sales platforms and high consumer needs for different products have fueled the online sales channel in the region. Rising urbanization has further augmented the demand for foam mattresses, which is likely to escalate even further in the coming years. The mattress market in Asia Pacific is expected to reach ~ US$ 26 billion by the end of 2027.

Fragmented Competitive Landscape

A large number of players offering different variety of mattresses have created a fragmented market landscape in the global mattress market. Leading players including Sleep Number Corporation, Serta Simmons Bedding, LLC, Tempur Sealy International Inc., and King Koil hold ~20% share in the global mattress market. Research and development initiatives and use of advanced technologies are the key strategies adopted by prominent players. Special focus on expansion and mergers and acquisitions are other strategies being adopted by these players. Recently, Kurlon Enterprise Limited introduced the Kurlopedic technology, which is helpful in making mattresses superior and more durable. It provides good back support, uniform space, and comfort through the night. The company is further focusing on research and development to develop mattresses that are firm, soft, and durable for maximum support of the body, and to meet the growing customer demand for comfortable mattresses.

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  • According to Transparency Market Research’s latest market report on the mattress market for the historical period of 2017-2018 and forecast period of 2019-2027, the growing demand for mattresses from residential consumers is expected to bolster the growth of the global mattress market during the forecast period.
  • Globally, revenue generated by the mattress market is estimated to reach~ US$ 40.5 Bn in 2019, and expand at a CAGR of over ~ 7% in terms of value throughout the forecast period.

Robust Demand in Healthcare and Hospitality Industry: A Key Driver 

  • The growing hospitality and healthcare sector is driving the mattress market at a significant rate. Increasing number of hospital beds is supporting the further growth in the demand for mattresses.
  • These days, consumers are highly concerned about the interior design of their homes. They are opting to replace old household furnishing with new items to match the interior design of their residences. This is expected to boost the demand for mattresses during the forecast period.
  • Rise in consumer preference for mattresses has encouraged key players to innovate and develop new products in order to increase their capacity and expand their footprint in the global market through product portfolio expansion.

Growth of Online Market and Growing Consumer Preference for Natural or Organic Mattresses

  • Rise in the demand for natural mattresses with hypoallergenic properties is an emerging trend. Also, growing awareness among consumers about the harmful effects of synthetic products is encouraging the market growth of natural mattresses.
  • End users suffering from breathing problems are opting for natural or organic mattresses to avoid unwanted health hazards that are caused due to the synthetic components of mattresses.
  • The offline market dominates the global mattress market, as consumers prefer offline platforms to buy mattresses. However, the online market is anticipated to grow at a rapid pace during the forecast period. Consumers now have various options to choose mattresses through e-Commerce websites. The strategy of companies to box sell mattresses directly to the door has made the market more demanding.

Rapid Growth in Demand after the Economic Slump of 2008

  • Increasing home ownership and home refurbishment in developed economies in North America and Europe is fuelling the mattress market. The restoration of the economy in developed countries of Europe and North America after the economic slump of 2008 is leading to an upward trend in home sales.
  • Economic development in several emerging countries of Asia Pacific, the Middle East & Africa, and South America has propelled construction activities in these regions over the past few years. This is anticipated to lift the demand for mattresses.
  • Rise in urban population in developing countries of Asia Pacific and the Middle East & Africa is also propelling mattress demand. The migration of people from rural areas for work opportunities is leading to more house occupation in urban regions.

Global Mattress Market: Competition Landscape

  • The mattress market is influenced by the presence of many local and regional companies. These players are likely to face extreme competition due to the presence of several local and regional players. Key players are mainly investing in research & development activities and product innovation to strengthen their presence in the market.

Key vendors operating in the global mattress market include

  • Simmons Bedding Company
  • Sealy Corporation
  • Serta Simmons Bedding
  • LLC
  • Tempur-Pedic International, Inc
  • Kaiserkorp Sdn.Bhd. (King Koil)
  • Owen & Company Limited (Kingsdown Inc.)
  • Comfur Mattresses
  • Englander Mattress
  • Sleep Number
  • Puffy Mattress.

Global Mattress Market: Key Developments

Key manufacturers in the mattress market, such as Serta Simmons Bedding, LLC and Paramount Bed Co. Ltd., are strengthening their overseas sales structure by increasing their production capacities, and are also focusing on technological development and product innovation. Some other key developments in the mattress market are as follows:

  • 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. Kurl-on is focusing on research and development to develop mattresses that are soft, firm, and durable for maximum support of the bod.
  • In April 2018, Kingsdown Inc. announced 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.
  • Paramount is adding more new products for welfare care along with maintenance business for beds and other items. It is also establishing a strong presence overseas to better serve customers. The company aims to expand its business and launch new products, taking advantage of the group’s strengths.

In the global mattress market report, we have discussed individual strategies, followed by company profiles of the manufacturers of mattresses. The ‘Competitive Landscape’ section included in the mattress market report provides readers with a dashboard view and company market share analysis of the key players operating in the global mattress market.

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