Mattress Market Assessment, By Product Type [Innerspring or coil, Foam, Hybrid, Airbeds, Others], By Comfort [Firm, Medium, Soft], By Technology [Standard Mattress, Smart Mattress], By Size [Single, Double, King, Queen, Others], By End-user [Residential,

Mattress Market Assessment, By Product Type [Innerspring or coil, Foam, Hybrid, Airbeds, Others], By Comfort [Firm, Medium, Soft], By Technology [Standard Mattress, Smart Mattress], By Size [Single, Double, King, Queen, Others], By End-user [Residential, Commercial], By Price Range [Value Segment, Premium Segment, Luxury Segment], By Distribution Channel [Online, Offline], By Region, Opportunities and Forecast, 2017-2031F

Global Mattress Market reached a value of USD 41.7 billion in 2023 and is anticipated to reach USD 58.58 billion by 2031, projecting a CAGR of 4.34% during the forecast period 2024-2031. The market is experiencing remarkable growth, driven by varied designs, types and characteristics. Mattress market, once a niche market, has become a mainstream essential now as comfort and healthy lifestyle have become the prime preference of the consumer.

Key market players offer a wide range of options catering to different consumer preferences. The availability of various types and materials to provide different levels of comfort further fuels the market's growth. Recently, various mattress companies have started providing customized mattresses to their customers to fit their unique needs for a perfect comfortable sleep.

Big brands, through this service, drive consumer interest and instill a desire in them to purchase mattresses from them. Consumers now have easy access to the products through online and offline modes, making it more accessible and convenient to purchase.

Consumers are nowadays willing to spend on sleep solutions as they have become keen on improving the quality of their sleep and leading a healthy lifestyle. There are various factors that are fuelling the growth of the market and the industry. Some include a rise in nuclear families, an increase in population, an increase in urbanization, an expansion of e-commerce and online retail marketplaces, and an increase in the awareness of consumers. Moreover, lesser spaces in home increases the demand of foldable mattresses and air mattresses.

Mattress Smart Features Driving the Demand in the Market

The mattress industry has experienced a surge in innovation in recent years, leading to smart mattresses that utilize various technologies to provide consumers with enhanced sleep-enhancing features. Smart Mattresses are AI and IoT enabled mattresses. This category comprises mattresses that, among other qualities, combine the flexibility of adjustable bed mattresses and the adjustable firmness features of air mattresses to create a mattress with nearly unlimited adjustments.

Some of the key characteristics of the smart mattresses are temperature regulation on both sides of the mattress, adjustable firmness, measurement of sleep quality, foot warming technology, reclination of mattress, etc.

De Rucci Healthy Sleep Co., Ltd., a Chinese mattress company, launched DeRUCCI T11 Pro Smart Mattress, an Artificial Intelligence of Things (AIoT) intelligent mattress, in November 2023. The DeRUCCI T11 Pro Smart Mattress is the first smart mattress that instantly adjusts to the individual's health for optimal sleep, warning the user about potential health issues before they are aware of them. This is based on extensive sleep/health research that DeRUCCI conducted with international universities and institutions.

Customized Mattresses Fuelling the Growth of the Market

People have become aware of the health benefits of sound and comfortable sleep. Moreover, consumers' preferences have become dynamic; whether it be health concerns, bed sizing, or comfort preferences, they do not fit the standard norms. Thus, a surge in customized mattresses could be observed in recent times, which enables consumers to pick the mattress that fits their preferences and that they really like.

Silk & Snow Inc., a Canadian bedding and home furnishing brand, provides customized mattresses to its customers in three simple steps. First, selecting the mattress type between their S&S Mattress or S&S Hybrid. Then comes the customization of the dimensions and, lastly, placing the order.

Asia Pacific Holds Dominance in the Global Mattress Market

Asia Pacific is the dominating region, which is influencing the market globally. Several key factors are responsible for this dominance. It is the region with the highest mattress demand and consumption because of the vast population in China, India, Indonesia, and Pakistan. The demand for residential buildings is expanding along with population growth, creating more chances in the market for mattress sales. This growth is inviting foreign companies to invest in the region.

For instance, Emma Sleep GmbH, a German mattress brand, entered the online Indian mattress industry in November 2023. To serve the specific preferences of the consumers across various price points, the company launched its global collection's 4 models in Indian mattress market which included The Emma Original, which is its original and classic mattress with ortho technology; The Emma Hybrid, its pocket Aeroflex spring flagship mattress; The Emma Adapt, a budget friendly mattress and The Emma Wave II which is developed with Emma's Diamond Degree technology and nanospring system.

Innerspring Mattress Holds a Larger Market Share in Terms of Volume

Globally, mattress market comprises of various types, for instance, innerspring or coil, hybrid, memory foam, gel-infused foam, polyfoam, and latex, among which, innerspring is the one which is dominating the industry. Consumers prefer it because it is the most traditional type of mattress, so consumers are familiar and trust them more. Moreover, the stiff metal coils in the mattress resist compression and provide an even support throughout the surface of the mattress. Also, because of the layer of coils, it is bouncier than the memory foam mattress, providing better comfort and support, which is an essential factor while choosing a mattress. Consumers also prefer innerspring mattress because it is cheap and durable, making it a highly affordable and demanding product.

On 20th October 2022, Tempur Sealy International, Inc. owned brand Stearns & Foster introduced the new innovative collections of exclusive handcrafted innerspring mattresses, featuring fresh designs and upgraded comfort levels. The new product line was designed to meet the needs and preferences of shoppers of the luxury innerspring mattress.

Thus, companies are constantly innovating the innerspring mattresses keeping it up to date and in line with the other newly launched mattresses.

Key Players Landscape and Outlook

Global mattress market features a competitive landscape with several key players. Some prominent companies include Kingsdown, Inc., Sheela Foam Ltd, Leggett & Platt, Incorporated, Paramount Bed Co., Ltd., Southerland Inc., Tempur Sealy International, Inc., Simmons Bedding Company LLC, Sleep Number Corporation, Serta Simmons Bedding, LLC, Inc., and Spring Air International. These brands have established a strong presence in the market with a wide variety of mattresses to cater to various consumer preferences. The outlook for these key players is positive, driven by the growing market of mattresses worldwide. As the market expands, innovation in mattresses has become pivotal for maintaining a competitive edge. Additionally, marketing strategies focusing on attracting new segment of consumers and continuous product development are crucial in shaping the market landscape and brand positioning.

In July 2023, Sheela Foam Ltd, a leading Indian manufacturer of PU Foam and mattresses, announced 94.66% stake in Kurlon Enterprise Limited, amounting to USD 25 billion. The acquisition was aimed to help the company to organise the existing fragmented market of foam-based products and mattresses and diversify the customer base around the globe.

On 9th May 2023, Tempur Sealy International, Inc. announced the acquisition of Mattress Firm Group Inc. which is United States’ largest mattress specialty retailer. With vertically integrated retail, this partnership enhanced Tempur Sealy’s vast product research and manufacturing capabilities. The combined global footprint of Mattress Firm and Tempur Sealy will comprise of over 3,000 retail locations, 30 e-commerce sites, 71 manufacturing sites, and 4 cutting-edge R&D centres. The goal of more than 21,000 workers supporting these activities is to give innovative sleep solutions to customers in more than 100 countries.

New Jersey-based company, Bedding Industries of America, announced in November 2023 that it has entered into a merger with Saatva, the country’s premier online retailer of luxury mattresses and bedding products.

Thus, the mattress market is booming and will continue to expand in the coming years with more companies entering the market and existing and new companies introducing newer range of mattresses with continuous technological advancements.