June 07, 2021
According to the business intelligence report titled ‘Global Sleeping Mattress Market Size study, by Type (Innerspring, Latex, Foam and Others), End-User (Residential and Commercial), Distribution channel (Online and Offline) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global sleeping mattress market accrued USD 33.2 billion in 2019 and is anticipated to reach USD 49.80 billion by 2027, expanding at 5.2% CAGR between 2020-2027.
Rising disposable income, growing number of hospitality and residential units, coupled with increasing investments in comforting & luxurious products are key factors spurring global sleeping mattress market expansion.
For the unaware, sleeping mattresses are filled with a resilient material alone or along with other products and are used for sleeping.
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Infrastructural developments, inappropriate sleep cycle, and growing prevalence of sleeping disorders will also boost industry growth. Also, innovative product launches by market players will create lucrative opportunities. Citing an example, Eight Sleep introduced a new product, smart mattress with dual thermostat and biometric monitoring.
While improving standard of life, and growing trend of interior designing & customized mattresses will aid global sleeping mattress industry growth, presence of counterfeiters who sell fake, rejected, or damaged mattresses is poised to hamper market expansion over the forecast timeframe.
Based on type, the industry is bifurcated into latex, innerspring, foam, and others. Speaking of end user spectrum, worldwide sleeping mattress market is divided into commercial, and residential. Moving on to distribution channel, the industry is segregated into offline, and online.
Regionally speaking, Asia Pacific held majority of worldwide sleeping mattress market share in the recent past due to prevalence of sleeping disorders and backache, soaring geriatric population, and rising middle class population. Furthermore, growing disposable income, coupled with launch of new & innovative products will contribute to industry expansion in Asia Pacific between 2020-2027.
Key players profiled in global sleeping mattress market report are Kingsdown Inc., Kurl-On Limited, Saatva, Spring Air Company, Leggett & Platt, Sleep Number Corporation, Paramount Bed Co. Ltd., Tempur Sealy International Inc., Serta Simmons Bedding LLC, and Silentnight Group.
These companies have made strategic moves like product launches, partnerships, investments, alliances and mergers & acquisitions to increase profit returns and strengthen their foothold in the market sphere.