The global mattress market size was valued at USD 50.61 billion in 2022. The market is predicted to grow from USD 52.45 billion in 2023 to USD 78.34 billion by 2030, attaining a CAGR of 5.90% during the forecast period.
The growing demand for customized and luxury products denotes a noteworthy shift in the consumer point of view for mattresses beyond consumer durables to an indicator of social prestige. At a higher level, the escalating rise of domestic players offering a wide range of products is driving consumers’ attention and distribution channels worldwide. Various successful launching of new products is predicted to boost the mattress market growth during the forecast period.
Fortune Business Insights provide this information in its report titled “Mattress Market, 2023-2030.”
Innovation and technology: Mattress manufacturers are constantly innovating to offer advanced features and technologies to enhance sleep experiences. This includes the use of memory foam, latex, gel-infused materials, and adjustable bases to provide better support, pressure relief, and temperature regulation.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Regional Insights:
Luxury and Premium Quality Products to Propel the Market Growth
The North American market is preferred for luxury and premium quality products. North America appeared as the largest market in 2022. An average North American consumer typically buys a mattress if the existing one doesn’t provide the consumer with a comfort level.
The market in Europe benefits from the rapidly rising travel & tourism industry. In this respect, rising tourism and tourist attractions across European countries facilitate product demand in the hospitality sector.
Asia Pacific is predicted to record the fastest CAGR during the forecast period. The region’s market size is growing to increase housing units across India and China.
Competitive Landscape:
Market Players Focus on New Product Launches to Strengthen Market Position
Leading market players are trying to expand their market reach by offering solutions tailored to their respective industries. These players strategically collaborate with and take over local competitors to establish a regional foothold. These companies focus on developing innovative products and efficient marketing techniques to gain a wider market share.
Key Industry Development:
- June 2020: Sheela Foam Ltd., an Indian company, stated the launch of its e-commerce platform called SleepX.com. This new online sales channel will attract more consumers to its products and services and boost its sales.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/mattress-market-102108
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