Rising Disposable Income Boosting the Demand for Mattresses in Europe

Good sleep is very important for maintaining a healthy life. Sleep disorders are conditions that avert people from getting restful sleep and, consequently, can cause daytime drowsiness and other symptoms. Every person can experience sleep disorders from time to time. The obstructive sleep apnea (OSA) syndrome is a predominant disorder, affecting at least 4% of males and 2% of females. The ailment is linked with recurrent episodes of a partial or complete upper airway occlusion throughout the sleep.

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From $7,877.0 million in 2021, the European mattress market is likely to propel at a 6.9% CAGR, to reach $14,382.8 million by 2030. The main factors propelling the advance of the industry are the rapid increase in urbanization, advantageous government policies concerning real estate growth, and developments in the hospitality and healthcare sectors. Moreover, the rising disposable income is also driving the demand for mattresses in the country.

The increasing disposable income leads people to buy more comfortable mattresses to enhance their sleep. For instance, Europe had approximately EUR 10.2 trillion disposable income in 2021, for spending on, housing, food services, energy costs, pensions, insurance, vacations, mobility, and customer purchases. Along with this, Europeans had an average per capita purchasing power of EUR 15,055, in the same year.

The online category will register the highest CAGR in the European mattress market in the coming years, under segmentation by distribution channel. The shift of consumers toward online channels in the last couple years can be ascribed to the need to comply with social distancing guidelines and stop the COVID-19 spreads in its tracks. Despite store-based shopping dominating the market, major sleeping aids providers are becoming more active on online channels to gain a competitive edge.

The higher CAGR in the market based on end use is expected in the commercial bifurcation. The growth of the hospitality and healthcare sectors is the most-significant driving factor for growth of this category. Also, key players are coming up with specialized mattresses in Europe for hospital beds that are used for multiple functions. Likewise, with the increasing number of tourists, the demand for customized mattresses is likely to boom in the hospitality sector.

After the upliftment of lockdowns, the hospitality industry has started reinstating. With the rise in the number of hotels in Europe, the requirement for mattresses has increased quite a bit. Similarly, during the pandemic, with a large number of people requiring hospitalization, there was an increased need for mattresses for hospital use.

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The preference of consumers for customized mattresses is among the biggest trends going on in the European mattress market. Thus, Tempur Sealy International Inc. offers the option to customers to modify the thickness, size, and firmness of the mattress. Customers' varying physical dynamics, such as height and weight, warrant the usage of customized mattresses that offer better support for different body types during sleeping. Moreover, standard-size and -shape mattresses do not at fit perfectly in customized beds, which is another reason behind the growing popularity of customized ones.

The rise in disposable income and the development of the medical and hospitality industries have had a positive impact on the demand for mattresses in Europe.

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This release was published on openPR.