Surging Construction Industry Driving U.S. Mattress Market Growth

A number of factors, such as the growing construction industry, booming hospitality and tourism sectors, surging concern toward sound and healthy sleep, and increasing prevalence of back and spine problems, across the country, are expected to drive the growth of the U.S. mattress market at a CAGR of 4.8% during the foreseeable period (2020-2030). According to P&S Intelligence, the market generated $16,716.5 million revenue in 2020, and it is expected to reach $26,790.4 million by 2030.

One of the prime factors aiding the U.S. mattress market growth is the surging construction industry. For instance, as per the U.S. Census Bureau, construction spending reached $1.324 trillion in 2019, from $1.271 trillion in 2018 in the country. Moreover, the spending on private construction was 1.6% more in 2019 as compared to 2018. Likewise, residential construction spending was 2.7% higher in 2019, than the previous year. The data states that the construction sector is observing notable growth in the U.S., which is driving the demand for mattresses.

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Furthermore, the booming hospitality and tourism sectors are also driving the need for mattresses in the U.S. For instance, travel activities in the country reached a total of 2.3 billion person-trips, augmented by 1.7%, in 2019. Moreover, domestic leisure travel activities stood at 1.9 billion person-trips, increased by 1.9%, in 2019. Similarly, domestic business travel activities reached 464 million person-trips, amplified by 1.1%, in 2019, as compared to 2018.

The product segment of the U.S. mattress market is categorized into innerspring, memory foam, and latex. Among these, the memory foam category is projected to witness the fastest growth during the forecast period. This can be ascribed to the high usage of this type of mattresses by individuals, as these help in relieving muscle pain and body stress. Moreover, they are suitable for side-sleepers and helpful in reducing allergies.

Moreover, on the basis of size, the U.S. mattress market is classified into king-size mattress, queen-size mattress, single-size mattress, and double-size mattress. Out of these, the queen-sized mattresses generated the largest revenue share in the market in 2020. This is mainly ascribed to the high usage of these mattresses in households, as these provide adequate space for two adults and a child, which is essential for smaller bedrooms, and have low costs.

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Geographically, in the U.S. mattress market, the southern region held the largest share in 2020. This is because the region offers growth opportunities to players operating in the market, due to the high urbanization rate in this part of the country, and southern cities have a huge population base. For example, Metropolitan Atlanta has been observing a significant rise in its population, with an addition of 69,200 residents every year.

Thus, the growing construction industry and the booming hospitality and tourism sectors are expected to boost the market growth during the forecast period in the country.

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This release was published on openPR.