Mattress Market Size was valued at USD 46.11 billion in 2023. The mattress market industry is projected to grow from USD 49.50 Billion in 2024 to USD 73.41 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.05% during the forecast period (2024 - 2032).
Mattresses are utilized in every home and are necessary for every family. As a result, well-known enterprises in the mattress market have a large consumer base. Rising demand from the real estate industry to satisfy residential needs has increased the sale of home furnishings such as mattresses, pillowcases, and bed linen, consequently boosting the product's demand. The expansion of the healthcare and hospitality industries is one of the primary factors driving the global market. As a basic household furniture item, Bedding products have shown consistent demand over the years.
Customers are progressively researching e-commerce furnishing sites, fueling the market even more. Hospital demand for beds is increasing, resulting in a considerable requirement for the mattress business during the pandemic. Increased prevalence of back disorders, primarily caused by uncomfortable sleeping surfaces, is expected to play a significant part in expanding specialty mattresses such as airbeds, waterbeds, and foam-based mattresses. It is mostly employed by new hospitals and refurbished old healthcare institutions, which have considerably contributed to the need for such mattresses to provide comfort to in-patients, out-patients, and caregivers.
The COVID 19 pandemic created a massive impact on different markets of the world. The Mattress Market was also not alien to this effect of the unprecedented pandemic. In the first wave of the 2020 COVID 19 pandemic, the sales of mattresses went down because of a lockdown on shops. Moreover, the manufacturing of new mattresses also went down on movement and workplace restrictions. However, the market revived since people took up home renovations and improvements during work from home schedules. The availability of mattresses online also helped boost sales in the pandemic period as it is easy to buy mattresses from e-retail stores. On the other hand, after the pandemic, Market is set to grow further because of the resumption of manufacturing activity and sales, both offline and online.
As people grow more health-conscious and give sound sleep the importance it deserves, mattress sales will increase in the post-pandemic world. Moreover, instead of traditional mattresses, people will buy innovatively designed mattresses with multiple benefits and are durable.
Key Drivers
The urge for home renovation and interior design is a huge driver of the Mattress Market. People are renovating their living spaces to make them more healthy and functional. As the Market introduces new types of mattresses, people prefer switching up their mattresses with time. In the pandemic year 2020 and its subsequent years of 2021 and 2022, people will be making changes to their living spaces to increase the functionality and productivity of these spaces. For example, home remodeling and renovations went up by 58 percent for interior designing companies in 2020 as people wanted to add value to their residential spaces. As living spaces cross over to the modern home concepts, Market Growth drives up further in the future.
Major Opportunities
People are finally figuring out the link between sound sleep and health. More and more people are interested in making positive changes in their lifestyle for better health. Because changing and upgrading your Mattress can lead to several health benefits, people are replacing their mattresses. The mindset of people to make small changes in their living space for better health is an opportunity for the mattress market. Companies can cater to these people by designing better mattresses than before. Orthopaedic mattresses and memory foam mattresses are a sector that can benefit from this opportunity.
Key restraints
Some restraints in the Market control Mattress Market Growth over a period. For example, the sourcing of raw materials for the manufacturing of mattresses is a restraint. Mattress producers do not easily source the raw materials for the production of mattresses. While large-scale producers can easily source the materials, small-scale producers often fail to get hold of high-quality raw material for mattress making. This, in turn, hampers equal opportunities for growth within the global Market.
Key challenges
One of the major challenges that factory-made mattresses witness is the presence of homemade mattresses. Many of the poor and working-class families still go for handmade, homemade mattresses. This hampers Mattress Market Revenue growth. Although living standards have enhanced over the years, many people still do not buy commercial factory-made mattresses. Apart from being affordable, homemade mattresses are also very comfortable, and many do not switch over to the commercial sector. Thus, this sector will stand as a challenging one for the Mattress Market.
Cumulative Growth Analysis
With the help of Market Analysis based on different factors and challenges, the Market will grow at a rate of 7.2 percent till the forecast period. The rate of Market Growth remains healthy but single-digit till 2027. The sale of mattresses will go up and also amplify the growth of Market Revenue.
The Market divides into different segments depending on different categories like type, application, etc. A Market Analysis by segments is necessary to know prospects of Mattress Market in detail.
By type, the Market divides into gel mattresses, hybrid, memory foam, innerspring, and latex. Out of these segments, the innerspring will dominate by demand and Market share. However, the hybrid type of Mattress will record the highest individual segment CAGR in the forecast period.
By applications, the Market share divides between commercial and residential sectors. Commercial sectors usually include 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.
Mattress Market Analysis by regions is also very important to understand the distribution of revenue and profits over different regional markets. Different regional markets of Mattresses exist because mattresses are a necessity in every household. The major regional markets of Market are- North America, Asia Pacific, Europe, and the Rest of the World. The North American Region will remain as a leader of the Market Size, with the USA and Canada making considerable contributions. On the other hand, the APAC region will record significant growth as incomes rise and people pay more interest to home improvement.
The competitive landscape of the Market is dispersed with major and minor competitors. These key stakeholders of the Market bring in new Market trends and support the collective growth of the market. The major competitors of the Mattress Market are as follows-
The majority of the key competitors of the Market are present in the North American region, which is why the North American region is the leading regional market of the global Market.
Recent Developments
Report Overview
The Market Outlook Overview is as follows-
The Market Outlook is a complete report on the present conditions, drivers, and opportunities of the Mattress Market. It also considers the unprecedented impact of the pandemic on the market before proceeding into the Market forecast. It talks about the Mattress Market's industrial and regional segmentation to give the reader a detailed view of revenue and profit distribution inside the market. It also focuses on major competitors of the market and their recent activities that support Market growth over the next few years. The report is a wholesome, insightful one that is very helpful in understanding the Market for the reader.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 46.11 billion |
| Market Size 2024 | USD 49.50 billion |
| Market Size 2032 | USD 73.41 billion |
| Compound Annual Growth Rate (CAGR) | 5.05 % (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End User |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Mexico, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia and New Zealand, and Brazil |
| Key Companies Profiled | Kingsdown Inc. Sleep Number Corporation Serta Simmons Bedding LLC Tempur Sealy International Inc. Relyon Ltd Southerland Inc. |
| Key Market Opportunities | People are finally figuring out the link between sound sleep and health. |
| Key Market Dynamics | The urge for home renovation and interior design is a huge driver of the Mattress Market. |
Frequently Asked Questions (FAQ) :
mattress market is expected to reach USD 73.41 billion
mattress market is expected to exhibit a strong 5.05% CAGR over the forecast period from 2024-2032.
Growing urbanization is the major driver for the mattress market.
North America is likely to dominate the mattress market over the forecast period.
Leading players in the mattress market include Kingsdown, Relyon, and Sleep Number Corporation, among others.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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