The global mattress market size is expected to reach USD 40.37 billion by 2027, exhibiting a CAGR of 4.2% during the forecast period. The increasing concentration towards online sales channel to improve sales will create lucrative business opportunities for the market, states Fortune Business Insights, in a report, titled “Mattress Market Size, Share & COVID-19 Impact Analysis, By Material (Spring/Coil, Foam, Latex, and Others), Size (Queen, Twin, Full, and Others), Application (Household, Healthcare, Hospitality, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 30.38 billion in 2019.
The whole world is battling with the novel coronavirus, leaving numerous industries distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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The report on the mattress market highlights:
- Comprehensive scrutiny of the industry
- Dynamic insights into the segments
- Wide-ranging data about dominant regions
- Key information about prominent players
- Latest developments
- Market drivers and restraints
- COVID-19 Impact
Market Driver:
Increasing Number of Housing Units to Support Development
The growing number of residential housing coupled with an increasing population will bolster the healthy growth of the market. As per the Housing Statistical Release of 4 July 2019, in England, completions of new houses totaled 169,770 till March Quarter 2019, which increased by 6% as compared to the same period in the previous year. The heavy demand for daily use products including various home furnishing items is expected to enable speedy expansion of the market. Moreover, the trend for luxurious home décor is expected to foster the healthy growth of the market. Likewise, the demand for kids beds can have an excellent effect on the market. For instance, SleepIQ Kids k2 bed is equipped with the company’s DualAir adjustability along with SleepIQ technology that allows the k2 bed to easily adjust to a child’s growth allowing the child to sleep comfortably.
Surging Demand in Healthcare Sector to Intensify Market During Coronavirus
The growing need for beds in hospitals and healthcare facilities has accelerated the bedding products industry during the pandemic. For instance, in April 2020, Kingsdown announced to expand its operations in response to the escalating demand for treatment & recovery beds owing to the rising number of COVID-19 cases. Moreover, the growing focus of companies towards medical-grade mattresses for hospitals will simultaneously uplift the market. The company announced to transform three of its mattress-production lines for health care facilities and treatment centers. Besides, the fast-moving company’s Care Xpress program can promote the growth of the market amid COVID-19.
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Regional Analysis:
Flourishing Tourism Industry to Propel Market
The market in North America is expected to experience a rapid growth rate during the forecast period owing to the higher demand for high-value and luxury products. The booming tourism industry has subsequently increased the prospects of lodging facilities and thereby fostered the growth of the market. The growing demand for single-sized beds and mattresses for kids and adults will enable speedy expansion of the market in the region. As per the U.S. International Trade Commission’s Publication 4842 of November 2018, in the U.S. apparent consumption of mattresses in 2017 was 16.3% greater as compared to 2015.
Key Development:
September 2020: Tempur Sealy announced the development of an antimicrobial and antiviral Surface-Guard Technology for Mattresses to expand its product portfolio.
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The Report List the Key Companies in this Market:
- Serta Simmons Bedding, LLC (Georgia, U.S.)
- Tempur-Sealy International, Inc. (Kentucky, U.S.)
- Sleep Number Corporation (Minnesota, U.S.)
- Paramount Bed Holdings Co., Ltd. (Tokyo, Japan)
- Kingsdown Inc. (North Carolina, U.S.)
- Grupo Pikolin (Zaragoza, Spain)
- Sheela Foam (Uttar Pradesh, India)
- King Koil Mattress Co. (Illinois, U.S.)
- Greiner AG (Kremsmünster, Austria)
- Suibao Group (Guangdong, China)
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Latest Research Report on “Blockchain Technology Market” Added by Analytical Research Cognizance which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
The global market for Blockchain technology Market will expand at a CAGR of 42.8% to reach a revenue of USD 19.9 Bn by 2023.
Increasing applications in sectors like Banking and Financial Services, Healthcare, Supply Chain Management, Energy, Media, and Informatics, among others, will enable the growth of the Blockchain technology market.
Public, private and mixed are the different types of Blockchain technology, with the first reigning in terms of market dominance.
An abundance of forthcoming investments and benefits like smoother and transparent operations should be help negate the challenges posed by the lack of awareness and inadequate regulatory framework in the Blockchain market.
Giants like Microsoft Corporation, IBM, Accenture, and Deloitte are among those who provide Blockchain technology services.
