The increasing urbanization level, growing housing industry, and rising disposable income are the key drivers in the global mattress market. The increasing numbers of healthcare facilities and hotels are further propelling the demand for mattresses. The increasing market for premium and customized mattresses are promoting growth of the market, in revenue terms. A significant growth in demand has been observed for the memory foam and latex mattresses in some of the countries. The mattress market in Asia-Pacific is growing at a rapid pace owing to the population boom in the region. The demand for eco-friendly mattresses have been observed to be growing at a significant pace in the past few years due to health concerns. High cost of mattresses is one of the key factors hindering its growth. A large part of the global population uses inferior quality mattresses stuffed with cotton fillers due to affordability reasons.
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The two broad categories of mattresses are Innerspring and Specialty (Non-Innerspring). The key types of specialty mattresses include memory foam, latex, and support. Innerspring mattresses account for a fair share in North America, Europe, and Rest of the World. However; they have less prevalence in Asia-Pacific due to the dominance of other types of mattresses such as coir mattress.
The growing home ownership rate as a result of increasing population and rising numbers of nuclear families has been increasing demand for the mattress market globally. The increasing migration of people from rural to urban areas, mainly in the Middle East and Asia-Pacific regions, is also propelling the demand for mattresses. As the consumers are shifting towards large houses, the numbers of bedrooms in the houses are also increasing, which is consequently benefitting the mattresses market growth globally. The percentage of households in the U.S. with at least four bedrooms has increased in the past and the trend is on. This is consequently aggravating the need for more beds and mattresses in the country. Approximately 140,000 new homes were built in the U.K. in 2014, a 3.7% increase as compared to that in 2013. The number of homes with more bedrooms has also been rising in the country. The rising divorce rate is one of the key reasons for the rising demand for property with more bedrooms as parents may have extra rooms for their divorced children when they come to stay.
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Consumer’s preference towards customized mattresses is one of the major trends seen in the mattresses market and it is supporting the mattress market to grow with a considerable rate. Consumer’s buying habits have been changing due to increase in public awareness on environmental issues. This has led to a shift in consumers’ buying behavior, which is favorable for the environment. Large numbers of consumers are now choosing natural and organic products. The eco-friendly mattresses are generally made of naturally occurring materials and alternatives having less chemical and ecological impact than conventional mattresses.
The major companies operating in the global mattress market include Tempur Sealy International, Inc., Spring Air International Inc. LLC, Simmons Bedding Company LLC, Select Comfort Corporation, Kinsdown, Inc., Reylon Beds, Southerland Bedding, and Corsicana Bedding, Inc.
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