Asia-Pacific Mattress Market Size and Forecast (2018-2030)-By Materials, Application, and Growth in Key Countries-China, India, Japan, Vietnam, Australia

Asia-Pacific Mattress Market Size and Forecast (2018-2030)-By Materials, Application, and Growth in Key Countries-China, India, Japan, Vietnam, Australia

Executive Summary

The mattress market in the Asia Pacific region has been undergoing substantial growth owing to the region's sizeable population and economic advancements. Factors like urbanization, the burgeoning middle class, and increased expenditure on high-end mattresses have played pivotal roles in expanding the market.

Asia-Pacific has asserted its dominance, contributing more than one fourth to the global home bedding market revenue, with China singularly representing 70% of the region's total revenue. The dominance of key home textile markets such as China, India, and Japan has spurred the diversification of bedding textiles, leading to wider applications of bedding products across residential and commercial settings.

China dominates the mattress market, followed by India. China mattress market is poised to grow by 10% in the coming years, with the premium segment anticipated to grow by more than 20% due to an expanding middle class and heightened demand for high-quality sleep products.

E-Commerce and Retail Expansion: Asia-Pacific stands as the second-largest region for online mattress sales, notably with China capturing the lion’s share. Disparities in online occurrences, mattress market sizes, and consumer preferences are more pronounced here compared to other geographical areas. South Korea exhibits one of the highest online penetration rates. Although India's volume may be lower, its online mattress market has been steadily growing and is expected to experience exponential growth in the coming years.

Upsurge in Premium Mattress Demand: Consumers across the Asia Pacific region are increasingly favoring premium and specialized mattresses equipped with features such as orthopedic support, cooling technology, and eco-friendly materials.

Market Development Instances

• In October 2018, King Koil China partnered with Serta China to establish the leading premium mattress platform in China, consolidating their presence across diverse distribution channels.
• In September 2022, Saatva, Inc. introduced the Memory Foam Hybrid Mattress, aiming to broaden its customer base.
• The hospitality industry is driving demand for mattresses in Japan. In 2021, Japan exported USD 41.1 million in mattresses, making it the 48th largest exporter of mattresses in the world.
• Escalating property prices in major Chinese cities have compelled numerous young individuals to opt for rented apartments. With renting becoming a prevalent choice, mattress demand is expected to witness a surge.
• In India, the residential units are increasing. Even the government has implemented many schemes like House for all, where by 2022, government is targeting to construct around 50 million new housing units. In which 30 million are proposed to construct in rural areas and 20 million in Urban areas.
• In Australia, demand for Memory Foam mattresses has exhibited a consistent upward trend over the past five years.

Demand of Mattress by Type of Mattress

Based on mattress type, the Asia Pacific mattress market is segmented into Innerspring, Memory Foam, Latex, and Others, with Innerspring holding the major market share at 50%, followed by Memory Foam, Latex, and Others. The surge in demand for Spring Mattresses is attributed to the increasing prevalence of back problems and discomfort during sleep, particularly in emerging markets like India and China.

Regarding end-users, the market is segmented into Residential and Commercial sectors, with the Residential segment holding the lion’s share. Anticipated population growth in megacities by 2030, with 19 such cities in the Asia-Pacific region, is expected to drive mattress demand.

Future Prospects

According to Makreo, the Asia Pacific mattress market is forecasted to witness a Compound Annual Growth Rate (CAGR) of 9.6% between 2023 and 2030. The burgeoning urban population in Asia-Pacific cities, set to grow by 50% by 2050, will significantly intensify the demand for mattresses. Major brands from various countries have entered Vietnam's market, showcasing diversified mattress portfolios catering to diverse lifestyles.

Scope of the Study

The study conducted by Makreo Research on the “Asia Pacific Mattress Market Analysis (2018-2030)" provides a comprehensive analysis of the market, encompassing a wide range of factors. The report takes into account both qualitative and quantitative factors, indicating a well-rounded approach to analysis. The inclusion of both qualitative and quantitative factors in the study ensures that readers gain a more complete understanding of the Asia Mattress Market. It goes beyond mere numbers and incorporates insights into consumer behavior, industry trends, and market dynamics. This holistic approach enhances the overall analysis and makes the study a valuable resource for individuals or organizations interested in exploring the pricing of mattress, key players in the industry, trade performance, competitive Landscape of Asia Pacific Mattress Market. Moreover, the report's focus on past and present performance, as well as potential growth opportunities in the future, enables readers to identify key areas of interest and investment.

The report examines opportunity for the Asia Pacific Mattress market on various grounds including

• Asia Pacific Mattress Market revenue and performance,

The market is further segmented on the basis of

• Mattress Material
• End user
• Countries

Countries Covered

• China
• India
• Japan
• Australia
• Vietnam

Key Questions Answered

1. What is the historical performance of the Asian economy, and what is the anticipated future growth outlook?

2. How has the Asia Pacific Mattress Industry fared in the past, and what is its current state?

3. What is the current performance of the mattress trade sector in Asia?

4. Which material is primarily contributing to the demand for mattresses?

5. Which end user is the major contributor to the demand for mattresses?

6. Which country is the primary contributor to the demand for mattresses?

7. Who are the key players in the market, and what is their current performance status?

8. What major mergers and acquisitions have occurred in the past within the Asia Pacific Mattress Industry?

9. What is the funding scenario for various players in the Asian mattress market?