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

Global Mattress Market size was valued at USD 39.4 billion in 2019 and is poised to grow from USD 41.86 billion in 2023 to USD 67.5 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).

The global mattress market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, prior to World Cancer Day on February 4 2022, the American Cancer Society (ACS) and Sleep Number Corporation (SNC) today announced a historic partnership to launch fundamental sleep research in order to develop the first-ever, cancer-specific sleep recommendations. In order to improve sleep outcomes for cancer patients and survivors, ACS will conduct research over the next six years using Sleep Number's exclusive sleep data and sleep experts to determine the effect of quality sleep on cancer prevention and recovery. 'Tempur Sealy International', 'Serta Simmons Bedding', 'Sealy Corporation', 'Sleep Number Corporation', 'Select Comfort Corporation', 'Kingsdown, Inc.', 'Corsicana Mattress Company', 'Restonic Mattress Corporation', 'Southerland, Inc.', 'Therapedic International', 'Spring Air International', 'Eclipse International', 'Symbol Mattress', 'Englander Sleep Products', 'Aireloom Mattress', 'Beautyrest', 'Stearns & Foster', 'Casper Sleep', 'Purple Innovation', 'Leesa Sleep'

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.

Over the past ten years, customizable mattresses have become a major fashion trend. Customers who purchase these devices have access to a wide range of preset options, such as design, height, stiffness options, and toppings. To build a stronger brand name, leading industry players have recently launched cutting-edge goods. For example, Sheela Foam Ltd.'s Sleepwell, the top mattress brand in India, has introduced the Cocoon mattress, the first-ever Mattress in a Box (MIAB) option that lets customers select the comfort level of the mattress on their side of the bed. The mattress offers personalization possibilities, allowing users to change their comfort level by merely switching the top two foam layers from soft to the firm or vice versa.

In 2021, North America became the region in the global mattress market with the greatest prominence. The North American market, which is headed by the United States, is distinguished by a considerable customer predilection for luxury and high-end goods. Several studies indicate that if the current mattress does not provide the desired level of comfort, the typical North American consumer typically purchases a new one. According to data, the United States sells about 35.9 million mattresses each year. Many firms have concentrated on releasing new items across distribution channels in order to enhance their market share.