Transparency Market Research delivers key insights on the global luxury and premium mattress market. In terms of revenue, the global luxury and premium mattress market is estimated to expand at a CAGR of 4.5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global luxury and premium mattress market report.
In this market report, TMR predicts the rising commercial sector (hospitality and healthcare) across the globe to have a noteworthy impact on the overall luxury and premium mattress market. The increasing adoption of natural mattresses is likely to propel the growth of the luxury and premium mattress market.
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Luxury and premium mattress is a comfort bedding product that helps the user enjoy quality sleep and rest. It enhances the interior of residential and commercial spaces. On the other hand, luxury and premium mattresses made of natural filling such as down, feather, cotton, and wool, have gained momentum driving the market in recent years.
The increasing sales of luxury and premium mattresses through several eCommerce sites are likely to drive the market in the upcoming years. End users preferring new designs, patterns, and a blend of material to obtain better comfort are influencing the demand for luxury and premium mattresses. The surging number of premium commercial spaces across the globe is also a factor promoting the sales of luxury and premium mattresses. In addition, users are personally opting for luxury and premium mattresses of recognized brands, materials, processing, and certification, which is also a factor encouraging the growth of the market.
The growing popularity of luxury and premium mattresses in the residential sector is likely to augment the demand in the near future. The increasing number of commercial spaces such as hotels, resorts, and spas are an opportunity for growth in the luxury and premium mattress market. Suppliers may also promote several modules of premium interiors across the globe in order to gain the attention of users about their products. In addition, suppliers may also collaborate with commercial spaces such as resorts and hotels in order to provide them with customized solutions and increase the sales of their product.
In terms of product type, the luxury and premium mattress market has been segmented into memory foam mattress, latex mattress, hybrid mattress, innerspring mattress, and others. During the forecast period, the market is anticipated to be dominated by innerspring mattress and memory foam mattress segments. Based on end use, the luxury and premium mattress market has been bifurcated into residential and commercial. Furthermore, the commercial segment is divided into hotels, resorts, and others.
Based on distribution channel, the luxury and premium mattress market has been classified into online and offline, wherein the online category is sub-segmented into company-owned websites and eCommerce websites, and offline is sub-segmented into specialty stores, hypermarkets & supermarkets, and others. In recent years, users are also buying luxury and premium mattresses through eCommerce websites after lockdown of commercial and social spaces, owing to the impact of COVID-19. This also drives the growth of the luxury and premium mattress market.
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Luxury and Premium Mattress Market: Prominent Regions
Geographically, Europe led the luxury and premium mattress market in 2019, and the region is expected to retain its dominance during the forecast period. The rapid growth in the commercial sector, along with increasing preference for luxury goods in developed countries such as the U.K, Germany, Italy, and France is influencing end users to opt for luxury and premium mattresses. Apart from Europe, Asia Pacific also contributes to the growth of the global luxury and premium mattress market. China, Japan, and India are considered major markets for luxury and premium mattresses in Asia Pacific. In addition, rapid growth of the commercial sector such as hotels and resorts in developing countries is also influencing end users to opt for luxury and premium mattresses. This is also a major factor driving the expansion of the luxury and premium mattress market.
Luxury and Premium Mattress Market: Key Players
The competition landscape of the luxury and premium mattress market is moderately fragmented with leading players accounting for majority of the revenue share. Key players operating in the global luxury and premium mattress market include Harrison Spinks, Jensen, Kingsdown, Inc., Femira Bettensysteme GmbH & Co. KG, Oschmann Comfortbetten GmbH, Tempur Sealy International, Inc., Sleep Number Corporation, and RUF Betten GmbH.
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