Mattress Market Future Growth Projections, Trends, and Forecast to 2032
- Nov 13, 2024
- | 25
The global mattress market was valued at USD 50.61 billion in 2022 and is expected to expand from USD 52.45 billion in 2023 to USD 78.34 billion by 2030, growing at a CAGR of 5.90% during the forecast period.
A key trend driving market growth is the rising demand for customized and luxury mattresses, reflecting a shift in consumer perceptions. Mattresses are increasingly seen not just as functional products, but as symbols of social status and comfort. Additionally, the growing presence of domestic mattress manufacturers offering a wider array of products is capturing consumer attention and expanding distribution networks globally. The continued introduction of new and innovative products is anticipated to further fuel market growth.
This information is presented in Fortune Business Insights’ report titled Mattress Market, 2023-2030.
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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)
Market Segmentation:
Traditional Coil/Spring Mattresses Show Strong Demand
The mattress market is segmented by material, including foam, spring/coil, latex, and others. The spring/coil segment is projected to grow at a significant rate from 2023 to 2030, driven by the continued popularity of innerspring mattresses. These mattresses use metal springs to provide a support layer that enhances comfort.
Rising Demand for Larger Mattresses
In terms of size, the market is categorized into queen, full, twin, and others. Queen-sized mattresses dominate the global market, providing ample space for two people and commonly used in master bedrooms. Studies show that 61% of consumers prefer a queen-size mattress, followed by single, double, and king sizes.
Tourism Growth Fuels Hospitality Sector Demand
From an application perspective, the market is segmented into healthcare, households, hospitality, and others. The increase in global tourism and the expansion of accommodation facilities are driving the demand for mattresses in the hospitality sector, benefiting the overall market.
Report Coverage:
The report covers:
- Key market drivers, challenges, opportunities, and potential risks.
- Regional market insights and developments.
- A list of leading industry players and their strategies.
- Recent industry developments, such as new product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Housing Growth Boosts Mattress Demand
The global rise in housing construction, combined with increased consumer spending on home furnishings and bedding, is positively impacting mattress demand. The growing number of single-occupancy homes and the shift toward nuclear families are further driving the need for mattresses across various regions.
However, the widespread availability of unbranded, low-cost mattresses—especially in Asian markets—continues to challenge the growth of branded, high-end, and luxury mattress products.
Regional Insights:
Luxury Products Drive North American Market
North America, the largest market for mattresses in 2022, continues to be driven by demand for luxury and premium-quality products. North American consumers typically replace their mattresses when they no longer provide adequate comfort, fueling ongoing market demand.
In Europe, the rapid expansion of the travel and tourism industry has led to increased demand for mattresses in the hospitality sector. Asia-Pacific, however, is expected to experience the fastest growth in the coming years, driven by increasing housing units in countries like China and India.
Competitive Landscape:
Product Innovation and Strategic Collaborations Shape the Market
Leading mattress manufacturers are focusing on product innovation and strategic collaborations to expand their market presence. Companies are increasingly partnering with or acquiring local players to strengthen their foothold in regional markets. Additionally, they are adopting efficient marketing strategies to capture a larger share of the market.
Key Industry Developments:
- June 2020: Sheela Foam Ltd., an Indian mattress manufacturer, launched its e-commerce platform, SleepX.com. This initiative aims to attract more customers online and drive sales growth.
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