The global mattress market was valued at USD 50.61 billion in 2022 and is projected to grow from USD 52.45 billion in 2023 to USD 78.34 billion by 2030, achieving a CAGR of 5.90% during the forecast period.

This growth is primarily driven by the increasing demand for customized and luxury mattresses, which reflect a shift in consumer perceptions—viewing mattresses not only as consumer durables but also as symbols of social status. Additionally, the rising number of domestic players offering diverse products and the expanding distribution channels are capturing the attention of consumers worldwide. The continuous launch of innovative products is also expected to further accelerate market expansion during the forecast period.

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Market Segmentation

Material Type

• Spring/Coil-based Products: This segment, consisting of traditional innerspring or coil-based mattresses, is expected to grow at a significant rate during the forecast period. These products are constructed using metal springs to provide an underlying support layer, maximizing comfort for the user.

• Foam, Latex, and Other Materials: Other material types such as foam and latex are also gaining popularity, but spring-based products remain a traditional favorite for consumers.

Size

• Queen-Sized Mattresses: Queen-sized mattresses are the most popular globally, particularly for master bedrooms, as they offer sufficient space for two individuals. Studies show that around 61% of consumers prefer queen-sized mattresses over other sizes, including single, double, and king.

Application

• Hospitality Sector: The growth of international tourism and the expanding number of accommodation establishments worldwide are driving demand for mattresses in the hospitality sector.

• Households and Healthcare: Rising consumer spending on home furnishings, coupled with the increasing demand for comfortable and durable mattresses in households and healthcare facilities, is further driving market growth.

Market Drivers and Restraints

Drivers

• Increasing Housing Developments: The growing number of housing units worldwide, coupled with an increasing focus on home furnishings, is boosting mattress demand. The rise of single-occupancy homes and nuclear families is also contributing to the need for spacious mattresses.

• Growing Affluent Consumer Base: In regions like North America, the demand for premium and luxury mattresses is on the rise, further driving market growth.

Restraints

• High Presence of Low-Cost Alternatives: In Asian markets, the prevalence of unbranded or low-cost mattresses is limiting the demand for high-end and luxury products, which could otherwise lead to higher market growth.

Regional Insights

• North America: The North American market remains the largest, particularly for luxury and premium quality mattresses. Consumers in this region often replace their mattresses to ensure comfort, supporting market demand.

• Europe: The European market benefits from a booming tourism sector, where increasing travel and tourist attractions lead to higher demand for mattresses in the hospitality industry.

• Asia Pacific: The Asia Pacific region is expected to record the fastest CAGR during the forecast period. The increasing number of housing units in countries like India and China is driving mattress demand.

Competitive Landscape

The mattress market is highly competitive, with leading players continuously launching new products and forming strategic collaborations to expand their market presence. Companies are focusing on innovation and efficient marketing to capture a larger share of the market.

Key Industry Developments:

• June 2020: Sheela Foam Ltd. (India) launched SleepX.com, an e-commerce platform to attract more consumers and enhance sales.

Key Players in the Mattress Market

• Serta Simmons Bedding, LLC (U.S.)
• Tempur Sealy International, Inc. (U.S.)
• Sleep Number Corporation (U.S.)
• Paramount Bed Holdings Co. Ltd (Japan)
• Kingsdown, Inc. (U.S.)
• Grupo Pikolin (Spain)
• King Koil Mattress Co. (U.S.)
• Suibao Group (China)
• Greiner AG (Austria)
• Sheela Foam Ltd (India)

These companies are actively contributing to the market's evolution through innovation, strategic partnerships, and expanding their product offerings to meet consumer demands across different regions.

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