Mattress Market Size, Share, Growth Analysis, By Material(Spring/Coil, Foam, Latex, Others), By Size(Queen, Twin, Full, Others), By Application(Households, Hospitality Facilities, Healthcare Facilities, Others), By Region - Industry Forecast 2024-2031

Mattress Market Driver

• The global house development boom and increased consumer expenditure on bedding and home furnishings are what are fueling the industry's expansion. A separate room for each family member is required across all nations due to the rise in single-occupancy dwellings and nuclear families, which increases demand for the product. According to results from the National Bed Federation Survey released in March 2020, the percentage of survey participants who purchased the product increased from 24% to 32% over the previous six months. Additionally, it was anticipated that consumer expenditure on furniture and bedding items would total 119.8 billion US dollars in 2021, an increase of 5% from 2019.
• Numerous people worldwide have been suffering from significant sleep deprivation and mental pain, most notably during the past two decades, as a result of rapidly evolving consumer lifestyles, hectic schedules, altered eating habits, and the tendency of staying up late. Customer sleep quality may be greatly improved by the quality of the products they utilize. For example, leading mattress manufacturer Serta has unveiled the Arctic cooling sleep system, which is their newest category-disrupting innovation. The Serta Arctic mattress feels up to five degrees cooler than the top cooling mattress thanks to its 15x stronger cooling power, and a whole range of accessories contributes to all-night cooling pleasure.

Mattress Market Restraint

• A developing and quickly shifting competitive landscape, where internationally renowned and local companies compete primarily on the basis of product quality and durability, presents challenges to new and potential industry participants. One of the most important elements affecting customer purchasing decisions globally in retail stores and online marketplaces is a longer product lifespan. The product has a normal lifespan of seven to 10 years. This may cause a hindrance to the growth of the global mattress market during the forecast period.