Artificial Intelligence
Mattress Market to Exceed Sales Revenue of $72.10 Billion by 2028 | Consumers are Slowing Spending More to Get Better Good Night Sleep
Westford, USA, Nov. 11, 2022 (GLOBE NEWSWIRE) — As the world progresses, so does the way we sleep. In the past, people would sleep on anything from hay to feathers. But now, as comfort is increasingly valued, the mattress industry is booming. With good reason – a comfortable mattress can make all the difference to a good night’s sleep. There are many different types of mattresses available on the global mattress market, from memory foam to latex to spring. With so many options available, it’s no wonder that the demand for mattresses is growing.
As per SkyQuest analysis, memory foam mattresses are perhaps the most popular type on the market at the moment. They are designed to contour to body, providing support and pressure relief. This makes them perfect for people who suffer from back pain or other aches and pains. With the rapidly aging population, we have observed a large number of populations is inclining to buy memory foam orthopedic mattresses.
On the other hand, Latex mattresses are the second most popular option in the mattress market. They are similar to memory foam in that they contour to body and provide support. However, latex mattresses are often more responsive than memory foam, meaning that they spring back into shape more quickly when you move around in bed. This can be beneficial for people who tend to toss and turn at night.
It has also been observed that with each passing year, spring mattresses losing their market share to memory foam and latex mattresses.
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What Drives Demand for Global Mattress Market?
- Rise of online shopping: Online shopping has made it easier than ever before to compare different mattress options and find the perfect one for our needs. We can now buy mattresses from the comfort of our own homes, without having to go through the hassle of visiting a store.
- Growing preference for natural materials: There is a growing trend for people to choose natural materials over synthetic ones, both for their health benefits and for environmental reasons. This preference extends to mattresses, with many people now looking for options made from natural latex or wool.
- Urbanization is another factor that is driving the increased demand for mattress market. As cities continue to grow and more people move to urban areas, there is a need for more housing. This means that there is a need for more mattresses as well. The UN predicts that 66% of the world’s population will live in urban areas by 2050.
- Rise of the middle class is also playing a role in the increased demand for mattresses. As incomes rise and more people enter the middle class, they have more disposable income to spend on items like mattresses. In addition, as living standards improve, people are looking for higher-quality products, including mattresses.
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Top 5 Trends in Global Mattress Market
The mattress industry is constantly evolving and growing. Here are some of the top trends that are shaping the industry:
1. Increasing focus on health and wellness: More and more consumers are interested in finding a mattress that will help them sleep better and improve their overall health. Mattress companies are responding by offering products with features like cooling gel, natural fibers, and adjustable firmness levels.
2. Growing demand for luxury mattresses: As incomes rise, there is an increasing demand for high-end mattresses with features like memory foam, pillow tops, and advanced cooling technologies in the global mattress market.
3. Shift to online shopping: With the growth of e-commerce, more consumers are buying mattresses online. This trend is especially prevalent among younger shoppers who are comfortable making big purchases without ever stepping foot in a store.
4. Customizable options: Consumers want products that are tailored to their individual preferences. Companies in the global mattress market are starting to offer customizable options, such as different firmness levels on each side of the bed or adjustable head and foot sections.
5. Increased focus on sustainability: Sustainability is becoming increasingly important to consumers, and they’re looking for brands that share their values. Many mattress companies are now offering eco-friendly options made from sustainable materials like bamboo or latex rubber.
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SkyQuest Survey Says Consumers are Slowing Spending More to Get Better Good Night Sleep
A new SkyQuest survey of the global mattress market and consumer behavior shows that shoppers are more price-conscious than ever before. In fact, nearly half of consumers (48%) say they would pay $500 or less for a new mattress, while only 12% say they would spend $1,000 or more.
When it comes to purchasing a new mattress, comfort is king (or queen): 70% of respondents say it’s the most important factor in their decision. But price is a close second, with nearly two-thirds of consumers (64%) saying they won’t buy a mattress that costs too much.
The survey of the global mattress market also asked consumers about their favorite brands and retailers. In terms of brand preference, Serta was the clear winner, with nearly one-third of respondents (32%) saying it was their top choice. Tempur-Pedic came in second (16%), followed by Simmons (15%), Sealy (14%), and finally, Casino (3%).
As for where to buy a new mattress, the majority of consumers said they would purchase from a department store such as Macy’s or JCPenney (34%). Other popular choices include specialty stores like Mattress Firm or Sleepy’s (16%), online retailers like Amazon or Wayfair (15%), and big box stores like Walmart or Target (11%).
E-commerce has Become Leading Platform in India Mattress Market
The internet has become the most popular shopping platform in India, with e-commerce accounting for a large share of the country’s total retail market. The online market in India is growing at a rapid pace and is expected to continue to do so in the coming years.
E-commerce platforms such as Amazon and Flipkart have become leading players in the Indian mattress market, thanks to their wide range of products, competitive prices, and convenient delivery options. These platforms offer a vast array of mattresses from different brands, making it easy for consumers to find the perfect product for their needs. In fact, our study reveals that major start-ups such as Sleepy Cat and Wake-Fit are directly selling their products through these channels without offering their products to distributors or suppliers. As a result, they are able to capture a large market share of the India mattress market by offering discounted prices. At the same time, they are giving a strong competition to well-known and well-established brands such as Sleep Well.
Thanks to the growth of e-commerce, consumers in India now have more choices than ever before when it comes to purchasing a mattress. With so many options available, it’s important to do some research before making a purchase. Consider factors such as your budget, sleep habits, and preferred sleeping position before making a decision.
Top Players in Global Mattress Market
- Serta Simmons Bedding, LLC (U.S.)
- Tempur Sealy International, Inc. (U.S.)
- Sleep Number Corporation (U.S.)
- Paramount Bed Holdings Co. Ltd (Japan)
- Kingsdown, Inc. (U.S.)
- Grupo Pikolin (Spain)
- King Koil Mattress. Co (U.S.)
- Suibao Group (China)
- Greiner AG (Austria)
- Sheela Foam Ltd (India)
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