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Impact of the Coronavirus on the Mattress Market Growth, Trends and Competitive Landscape
Mattress Market Research Report by P&S Intelligence
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The booming urban population, owing to the rapid migration from rural to urban areas, is one of the leading factors behind the high demand for mattresses across the world. According to the 2018 Revision of World Urbanization Prospects published by the United Nations Department of Economic and Social Affairs (UNDESA), 68% of the global population will reside in urban areas by 2050. The UNDESA also forecasts that China, India, and Nigeria will add around 255 million, 416 million, and 189 million urban dwellers, respectively, by 2050.
Globally, the Asia-Pacific (APAC) mattress market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period, due to the vast population of China, Indonesia, and India. Moreover, the improving lifestyle of people in developing countries, such as Malaysia, Thailand, and India, owing to their surging disposable income, will also support the market growth in the region in the forthcoming years.
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Additionally, the rising health awareness among customers will also drive the demand for technologically advanced mattresses in the foreseeable future.
Thus, the escalating migration from rural to urban areas and the soaring disposable income of people will augment the demand for mattresses in the upcoming years.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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