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.
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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.
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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.
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