The global mattress market is expected to reach $38,078.1 million by 2022, growing at a CAGR of
6.5%.
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The increasing
population which is leading to increasing rate of home ownership is the key
growth driver for the global mattress market. The demand for housing is mainly
driven by migration of consumers from rural to urban areas.
The high demand for
new houses is observed mainly in the emerging regions including the Middle East
and Asia-Pacific, where young consumers among the population are laying severe
pressure on housing supply.
The consumers’
preference towards customized mattresses is one of the major trends witnessed
in the global market.
The increasing
population and growing numbers of nuclear families is increasing the demand for
houses and consequently the market for mattress globally. The increasing
migration of people from rural to urban areas, mainly in the Middle East and
Asia-Pacific regions is also propelling the demand for mattresses.
Owing to the surging
property prices, home ownership is becoming one of the factors for social
recognition in highly populated countries, such as India and China.
The governments in
several countries have also considered home ownership as an important policy
goal, and consequently they incentivize it by creating mortgage interest
payments.
The demand for
mattresses is also being propelled by the growing health concern of consumers.
The increasing busier day schedules of the people are inducing mental tiredness
in them, thus necessitating the need of a sound sleep. The focus on sleep
quality is becoming important in the developed countries, which is
resulting in increasing adoption of premium mattresses in these countries.
On the other hand,
the Asian consumers are increasing their mattress budget to use technologically
advanced mattresses, as compared to their traditional cotton-filler mattresses.
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The major companies
operating in the global mattress market include Tempur Sealy International
Inc., Simmons Bedding Company LLC, Spring Air International Inc. LLC, Select
Comfort Corporation, Kingsdown Inc., Reylon Beds, Southerland Bedding, and
Corsicana Bedding Inc.
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