Press release
Asia-Pacific Mattress Market Surges with Remarkable Growth, Fueled by Evolving Consumer Trends, Technological Advancements, and Key Industry Developments
The Asia-Pacific region is positioned as the primary consumer market for mattresses, driven by the substantial population in India, China, and Indonesia. The growth of the mattress industry in this region is influenced by various factors, including an increase in household numbers, evolving consumer preferences, technological advancements, a higher demand for hybrid and gel-filled mattresses, supportive government policies, rising disposable income, and lifestyle changes.According to Makreo Research, Asia-Pacific Mattress Market experienced a remarkable YoY growth during 2018 & 2019, when market revenue reached to USD 11.037 billion. This increase was linked to rising residential demand in China and India, two highly populated nations. With a significant contribution of over 35.3% to the global home bedding market revenue, Asia-Pacific, particularly China, plays a dominant role. China alone represents 3/4th of the region's total revenue in the home bedding market. The strong presence of key home textile markets such as China, India, and Japan has facilitated the expansion of bedding textiles, leading to broader applications of bedding products in both residential and commercial settings.
Notably, differences in online trends, mattress market sizes, and consumer preferences are more pronounced in this region compared to others. South Korea exhibits high online penetration, while India, though less relevant in volume, is making significant strides in the online mattress market, poised for exponential growth in the coming years.
► Surging Growth in the Spring Mattress Segment
The growth in the Spring Mattress segment is driven by an increasing prevalence of back issues and discomfort associated with sleep surfaces. In emerging markets such as India and China, there is a growing demand for innerspring mattresses, particularly in the premium category. Recognized for their thickness and enhanced support, spring mattresses emerge as the preferred choice for older toddlers and children. Individuals seeking a resilient and bouncy feel often opt for spring mattresses, which additionally offer improved airflow, contributing to a cooler sleeping environment at night.
► Several key developments in the mattress industry contribute to the market landscape:
■ In September 2022, Saatva, Inc. introduced the Memory Foam Hybrid Mattress, aiming to expand its customer base.
■ The German mattress brand Emma invested EUR 100 million in the Indian and Asia-Pacific markets, capitalizing on the increasing demand for bed-in-a-box products.
■ Emma's business in India has experienced substantial growth, with a two-fold increase in sales in the last quarter alone.
■ The Sleep Company, a direct-to-consumer (D2C) brand, secured INR 177 Crore (USD 21 million) in its Series B funding round, led by Premji Invest, with participation from Alteria Capital and existing investor Fireside Venture.
■ In October 2018, King Koil China partnered with Serta China to create the No. 1 premium mattress platform in China.
► Trade Facts of Asian Countries Mattress Market
■ China's imports of mattresses fell precipitously to 606K units in 2022, a 25% decrease from the previous year. In general, imports saw a sharp decline.
■ Exports have continued to show a notable growth during the reviewed period. When exports rose by 260% in 2021, the growth rate seemed to be at its fastest.
■ Australia's imports of mattresses surged to 2.9 million units in 2022, up 16% from the previous year.
►Emerging Startup in Asia-Pacific Region
■ Company Name: Kingaru Sleep
Founded Year: 2016
Headquarters: Indonesia
Description: Kingaru Sleep is a tech-startup in Jakarta. It's a luxury mattress sold exclusively online in Indonesia. The three-part mattress features latex comfort layer available in a fixed firmness and a separate support layer of memory foam.
■ Company Name: Sleepyhead
Founded Year: 2017
Headquarters: India
Description: Sleepyhead is a D2C (direct-to-consumer) mattress and furniture brand headquartered in Bengaluru.
It is India's fastest growing furniture startup brand. In FY 2021-22, Sleepyhead reported a revenue of Rs 150 crore, doubling its growth from the previous year. The company aims to grow its revenue to Rs 300 crore by FY23.
■ Company Name: Wakefit
Founded Year: 2016
Headquarters: India
Description: Wakefit is a Bengaluru-based startup that sells mattresses and other home decor products. The company was founded in 2016 by Ankit Garg and Chaitanya Ramalingegowda. Wakefit's business is divided into three units: mattresses, accessories, and furniture. The company's furniture business is growing three times year on year.
■ Company Name: Xiquan Foam Co., Ltd
Founded Year: 2002
Headquarters: China
Description: Xiquan Foam Co., Ltd. is a mattress manufacturer that was founded in 2002. The company is located 40 miles from Beijing, China and covers an area of over 70,000 square meters. Their main business is manufacturing polyurethane foam for furniture.
►Scope of the Study
Comprehensive Analysis of the "Asia-Pacific Mattress Market Size and Forecast (2018-2030) - By Materials, Application, and Growth in Key Countries - China, India, Japan, Vietnam, Australia"
The study conducted by Makreo Research on the Asia-Pacific Mattress Market demonstrates a thorough exploration of various facets within the industry. The report adopts a comprehensive approach by considering both qualitative and quantitative factors, enriching the analysis. This inclusive methodology aims to provide readers with a holistic understanding of the market beyond numerical data. The study delves into consumer behavior, industry trends, and market dynamics, offering valuable insights.
The report is not confined to statistical figures but extends its analysis to encompass broader aspects, including the pricing of mattresses, identification of key players, assessment of trade performance, and the competitive landscape in the Asia-Pacific Mattress Market. By incorporating such diverse elements, the study becomes a valuable resource for individuals or organizations seeking in-depth information about the market dynamics.
Furthermore, the report's focus on both historical and current market performance, along with projections for future growth opportunities, equips readers with the knowledge needed to identify significant areas for interest and potential investment. Overall, this study serves as a comprehensive guide for those looking to navigate the Asia-Pacific Mattress Market with a nuanced understanding of its multifaceted landscape.
►Key Questions Answered
■ What is the historical performance of the Asian economy, and what is the anticipated future growth outlook?
■ How has the Asia Pacific Mattress Industry fared in the past, and what is its current state?
■ What is the current performance of the mattress trade sector in Asia?
■ Which material is primarily contributing to the demand for mattresses?
■ Which end user is the major contributor to the demand for mattresses?
■ Which country is the primary contributor to the demand for mattresses?
■ Who are the key players in the market, and what is their current performance status?
■ What major mergers and acquisitions have occurred in the past within the Asia Pacific Mattress Industry?
■ What is the funding scenario for various players in the Asian mattress market?
Explore the in-depth insights and comprehensive analysis of the Asia-Pacific Mattress Market in Makreo Research's latest report. Uncover the dynamics shaping the industry's future by accessing the full report here: https://www.makreo.com/report/asia-pacific-mattress-market-size-forecast-2018-2030
Related Reports:
Europe Mattress Market Size and Forecast (2018-2030)
https://www.makreo.com/report/europe-mattress-market-size-and-forecast-2018-2030
India Mattress Market Size and Forecast (2018-2030)
https://www.makreo.com/report/india-mattress-market-size-and-forecast-2018-2030
Makreo Research and Consulting
801, Trishul Goldmine, Palm Beach, Sector 15, Belapur, Navi Mumbai, Maharashtra 400614
Contact us at:
Meetu Bhasin, Director of Research and Operations
Phone Number
+91-9619699069
Email Address
info@makreo.com
Makreo Research, a dynamic full-service research and consulting firm located in Mumbai, is dedicated to reshaping the research landscape and delivering comprehensive solutions to intricate business challenges.
Our mission is to streamline the ever-changing economic landscape and intricate market dynamics, leveraging brilliant minds and cutting-edge technology to make a substantial difference in the realm of business and decision-making.
Key Services:
1. Syndicated Research
2. Customised Research and Consulting
3. Market Surveys
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