3 Drivers of Mattress Market help it Witness Healthy Growth

Rising disposable incomes in developing countries and post-recession economic stability across developed ones are playing a central role in the positive development of the global market for mattresses presently. The affluent global consumer is willing to pay extra on premium mattresses that promise excellent comfort and a sound sleep, helping the global mattress market tread along a transformational development path. With the availability of a wide range of product varieties in terms of sizes, styles, and a range of firmness, the global mattress market is rapidly changing into a dynamic and innovative marketplace.

Transparency Market Research states that the market, which held an opportunity of US$24.70 bn in 2015, will rise at a healthy 6.5% CAGR from 2016 to 2024, and rise to a valuation of US$43.43 bn by 2024.

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Queen-sized, Innerspring Mattresses Rule Consumer Choices

In terms of product varieties, the segment of innerspring mattresses is the clear leader in the global mattress market, accounting for a share of nearly 80% in 2015. The segment is expected to expand at a healthy 6.1% CAGR over the period between 2016 and 2024 and retain its dominance in the global market. Increasing prevalence of a number of health concerns arising from sleep disorders and uncomfortable sleeping surfaces are propelling the demand for innerspring mattresses across the globe. The rising base of affluent consumers across developing countries is also driving the increased adoption of high-end mattress varieties with innerspring technology.

In terms of size of mattress, the segment of queen size mattress held the largest share of 33.1% in the overall market in 2015. The segment of full or double sized mattresses accounted for a 21.6% share in the market in 2015 and is expected to witness a moderate rise by 2024; the space-friendly and cost-effective nature of queen sized mattresses will work in their favor. However, the segment of twin XL mattresses is expected to expand at the fastest CAGR of 8.2% over the period between 2016 and 2024, enabling the segment’s share to rise from 5.1% to 5.8% in the market by 2024.

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Under the scope of the report, the global mattress market is divided into three segments: (i) by product (ii) by Size and (iii) by geography. Based on product type, the mattress market is bifurcated into memory foam mattress, hybrid mattress, innerspring mattress and latex mattress among others. Others mattress type includes gel filled mattress, water bed mattress, air filled mattress etc On the basis of mattress size type, the mattress market is segmented into twin or single size mattress, twin xl size mattress, full or double size mattress, queen size mattress and king size mattress among others. Others mattress size type includes California king or king long size mattress and grand size mattress or super king size mattress, athletic king size mattress.

Among all these mattress size types, the queen size mattress is ideal choice for couples who are looking for floor space-friendly as well as cost-effective mattress. Based on geography, the global mattress market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2015, Asia Pacific held the largest share of the mattress market followed by North America, Europe, and Rest of the World (RoW). Asia Pacific is largest as well as fastest growing market at present and is expected to be the fastest growing region during the next six years as well. In addition, Asia Pacific is expected to maintain its leading position during the forecast period.

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