USD 427.35 Million
Report ID:
SQMIG25E2069 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Heated Mattress Pads Market size was valued at USD 448.72 Million in 2023 and is poised to grow from USD 471.16 Million in 2024 to USD 696.11 Million by 2032, growing at a CAGR of 5.00% during the forecast period (2025-2032).
The escalating desire for comfort and luxury among consumers is driving an increased emphasis on premiumization within the bedding product sector.
This trend is notably propelling the sales of heated mattress pads. Moreover, the heightened preference for therapeutic mattresses to facilitate rejuvenating sleep experiences is drawing significant attention to heated bedding products, thus fostering the demand for heated mattress pads.
The shifting consumer inclination toward upscale lifestyle commodities, coupled with a surge in demand for customization and sustainability, is poised to generate avenues within the heated mattress pads market. Consequently, these products, known for their sustainability and cost-effectiveness, are gaining substantial traction, especially in Western countries where they address the challenge of low temperatures during winter months.
Furthermore, the multitude of benefits offered by heated mattress pads has further cemented their appeal, particularly among consumers grappling with physical discomfort. The pads provide relief from conditions like sore muscles, arthritis, and fibromyalgia.
They also alleviate allergies and sinus-related issues. However, it is worth noting that individuals with certain medical conditions, such as diabetes, are less likely to adopt heated mattress pads due to associated risks, especially the potential for burns in case the pad becomes excessively warm.
US Heated Mattress Pads Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 427.35 Million
Largest Segment
Households
Fastest Growth
Households
Growth Rate
5.00% CAGR
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The global heated mattress pads market is segmented on the basis of application, distribution channel, region. By application, the market is segmented into households, hotels, hospitals, and others. By distribution channel, the market is segmented into offline, online. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Heated Mattress Pads Market Analysis By Application
In terms of revenue distribution, household applications maintained dominance in the market, holding a substantial revenue share of 57.3%. This notable proportion stems from the increasing availability of premium heated bedding products, enriched with a plethora of functional advantages. Simultaneously, the escalating demand for bedding products within residential settings has undergone noteworthy expansion, consequently fostering the progression of this segment. The rising expenditure on bedding items, geared towards delivering a restful and revitalizing sleep experience, has propelled the segment's advancement. Additionally, the growing emphasis on therapeutic relief during sleep, aiding in muscle relaxation, tension alleviation, and improved blood circulation through heat therapy, has contributed to the increased integration of heated mattress pads among residential consumers.
Concurrently, the hotel application sector is poised to witness a projected Compound Annual Growth Rate (CAGR) of 5.1% in the heated mattress pads market. The expansion of the travel and tourism industry serves as a prime driver, stimulating demand for heated bedding solutions within hotel establishments. This surge, in turn, amplifies the adoption of heated mattress pads in hotel applications. The European landscape showcases an encouraging development, with approximately 1,500 new hotel construction projects in the pipeline. This initiative anticipates the opening of around 270 fresh hotels and resorts, yielding more than 38,000 novel rooms. Such ventures augur positively for the hotels end-user segment, notably benefiting countries such as Germany, the U.K., and France, which are expected to spearhead new construction projects and subsequently drive the demand for bedding solutions in hotel accommodations throughout the forecast period.
Heated Mattress Pads Market Analysis By Distribution Channel
In terms of revenue distribution, the offline distribution channel asserted its dominance in the market, capturing a substantial revenue share of 58.9%. The offline channel's ascendancy is attributed to its ability to provide consumers with a firsthand encounter with the products, facilitating convenient scrutiny of quality, specifications, and settings. Traditional brick and mortar establishments have enabled diverse brands to curate a distinctive experiential space for customers. Furthermore, the presence of in-store associates enhances the practical understanding of the products, aiding in informed selections. Notable offline channels in the heated mattress pads market include supermarkets, hypermarkets, company-owned retail outlets, and multi-brand stores. The offering of a diverse range of fabric options, including cotton and polyester, by different brands, coupled with the capacity to compare prices and product attributes, are anticipated to exert a positive influence on market expansion.
Meanwhile, the online distribution channel segment is forecasted to register a CAGR of 4.6% from 2020 to 2027. Predominant online avenues encompass company websites and e-commerce platforms. The online sector is projected to witness robust growth due to the escalating number of digital shoppers who exhibit a preference for diverse e-commerce avenues. Exclusive product availability, alongside early access releases, is projected to propel sales through company portals. Nonetheless, the proliferation of alternative options such as independent e-commerce websites and startup online retailers has notably overshadowed the growth of the company portals segment. Factors such as discount offerings, festive sales, and the comprehensive product selection provided by e-commerce websites are projected to contribute to a more gradual sales pace through company portals.
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North America asserted its market dominance, capturing a significant revenue share of 50.2%. This achievement is primarily attributed to the region's frequent encounters with chilly temperatures, compelling individuals to seek warmth and comfort, especially in rooms and beds to ensure restful sleep. Notably, Canada experiences extreme cold during the winter, with temperatures plummeting to -40 degrees Celsius. Furthermore, the mounting prevalence of lower back pain among Canadian consumers has elevated the significance of heated bedding, positioning it as a therapeutic measure within the mattress realm. This trend, in turn, has fueled the demand for heated mattress pads in the region. A report by the Canadian Chiropractic Association revealed that 5 out of 10 people in Canada suffered from lower back pain within a six-month period.
Conversely, the Asia Pacific region is poised for rapid growth, projecting an impressive Compound Annual Growth Rate (CAGR) of 6.1%, with an estimated revenue of USD 71.6 million. The region's vigorous infrastructural development, particularly evident in emerging powerhouses like India and China, is facilitating escalated investments across various sectors, most notably the hospitality domain encompassing hotels and hospitals. The World Travel & Tourism Council (WTTC) reported a direct contribution of around USD 714.0 billion to the region's economy through travel and tourism. This robust scenario is expected to catalyze demand for superior bedding products, consequently propelling the integration of heated mattress pads within the commercial sectors.
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Heated Mattress Pads Market Drivers
Demand for Comfort and Wellness
Cold Climate Regions
Premiumization and Customization
Heated Mattress Pads Market Restraints
Health and Safety Concerns
Energy Consumption
Alternative Bedding Solutions
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The competitive landscape of the global heated mattress pads market is marked by a dynamic interplay of established players, emerging entrants, and innovative product offerings. Leading manufacturers are striving to carve distinctive niches through brand recognition, product quality, and innovative features. The market witnesses intense rivalry as companies vie for consumer attention and loyalty.
Established brands leverage their strong distribution networks and reputation to maintain a competitive edge. These players often invest in research and development to introduce advanced features like smart technology integration, customizable heating zones, and energy-efficient solutions.
Heated Mattress Pads Market Top Player’s Company Profiles
Heated Mattress Pads Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global heated mattress pads market analysis, the global heated mattress pads market presents a landscape influenced by consumer demands for enhanced sleep experiences, wellness, and climate-specific solutions. North America dominates due to colder climates and therapeutic benefits driving adoption. However, the Asia Pacific region showcases the fastest growth, propelled by robust infrastructural developments and a thriving hospitality sector.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 427.35 Million |
Market size value in 2031 | USD 662.96 Million |
Growth Rate | 5.00% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Heated Mattress Pads Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Heated Mattress Pads Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIG25E2069
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