Global Mattress Market Shows Impressive Growth At A CAGR Around 4.5% By 2028- Buy Zion Market Research Statistics Report
Global Mattress Market
The global Mattress Market was worth around USD 30815.2 million in 2021 and is estimated to grow to about USD 40129.4062 million by 2028 - Zion Market Research
NEW YORK, UNITED STATES, September 28, 2022 /EINPresswire.com/ -- Some of the main competitors dominating the global mattress market include - Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Farr Yacht Design, Ltd.; and Groupe Beneteau.
The global Mattress Market was worth around USD 30815.2 million in 2021 and is estimated to grow to about USD 40129.4062 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.5 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
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Global Mattress Market: Regional Landscape
The Asia Pacific, with two highly populated countries, China and India, is the most lucrative market for the sales of mattresses and is expected to dominate the global market over the forecast period. High population and disposable income are projected to drive the global market in developing countries of APAC and Latin America such as India, Brazil, and South Africa. Followed by it, North America has the largest market value in the mattress market. The European market is expected to witness significant growth in the coming years owing to an increasing consumer shift towards large houses and a growing preference for multiple bedrooms in the house. Demand for mattresses in the healthcare industry is growing in nursing homes, clinics, and hospitals.
Recent Developments
In March 2022, Duvalay claims the solution to nighttime overheating and sleep sweats with its freshness cooling mattress topper. The topper fits over your existing mattress and functions as a second, much thinner mattress on which you can sleep. The Duvalay freshtec is made of foam, but it is designed to combat some foam mattresses' impact of reflecting heat to you as you sleep. The Duvalay freshtec has a cell structure that allows for free air circulation.
In April 2018, Kingsdown Inc. declared 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.
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.
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Global Mattress Market: Segmentation
The global Mattress market is segregated based on product outlook and application.
By product outlook, the global market is distinguished into Innerspring, Latex, Memory Foam, and Others. Out of these bifurcations, the innerspring will dominate by demand and Market share. as these types of mattresses are highly durable with a long lifetime and offer good ventilation. Innerspring mattresses are not only comfortable for sleeping but also budget-friendly since they are usually made of low-cost material, which makes them highly affordable for price-sensitive markets like India.
By applications, application, the global market is bifurcated into Domestic and Commercial. The commercial sector includes hotels, lodges, and hospitals, where beds are used regularly. However, the residential segment will get a boost in mattress purchases as disposable incomes grow over time. The sale of mattresses to the commercial segment had taken a hit during the pandemic, and it will revive in the future.
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Global Mattress Market: Growth Drivers
Increasing construction of residential complexes and growing instances of back and posture-related problems
The desire for home renovation and interior design is a huge driver of the global mattress market. People are renovating their living spaces to make them healthier and more functional. As the Market introduces new types of mattresses, people prefer switching up their mattresses with time. Also, people becoming more health-conscious are keen on taking care of their back problems and investing in good mattresses for their posture-related problems. These factors are fueling the growth of the global mattress market.
Global Mattress Market: Restraints
Fluctuations in raw material prices
The sourcing of raw materials for the manufacturing of mattresses is a restraint. Mattress producers do not easily source the raw materials to produce mattresses. While large-scale manufacturers can easily source the materials, small-scale manufacturers often fail to get hold of high-quality raw materials for mattress making. This, eventually, hampers equal opportunities for growth within the global market.
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Global Mattress Market Summary
Mattress system now offers consumers a wide range of features and options that can help to provide a comfortable and restful sleeping experience. Advanced mattress selections now extend to comprise models and sleeping systems that offer alternative materials and construction methods, as well as integrated controls that enable consumers to personalize their mattresses to their own unique requirements. Bedding products being a common household item have experienced a constant demand over the years. Increased incidences of back problems caused mainly by uncomfortable sleeping surfaces are likely to play a major role in the growth of specialty mattresses.
Increasing disposable income, along with the surge in homeownership, which is on an average of 69.6% across the globe, is expected to fuel the demand for the product over the forecast period. The demand for mattresses also comes from the healthcare industry, i.e., hospitals that are in constant need of bedding, especially during the pandemic. Both the private and government sectors are making significant investments in the healthcare industry to develop infrastructure and expand healthcare facilities. This has been a contributing factor in the growth of the global mattress market. The growing trend of home décor has also greatly contributed to the growth of the market. However, household and hospitality need for mattresses has seen a decline in demand over pandemic years as it reduced the overall purchasing power of people globally.
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