Australia Mattress - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Australia Mattress - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Australia Mattress Market size is estimated at USD 0.87 billion in 2024, and is expected to reach USD 1.17 billion by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).

Australia's mattress market developed rapidly due to the growing population in Australia, increasing income levels, and the booming housing market. Other major reasons include the growth of international trade in current times.

The homecare and furniture industries were growing exponentially, but with the outbreak of the COVID-19 pandemic, there was a rapid decline in the growth of the mattress market. Australia's forty percent of all households are adjusting to a reduction in household income, with Generation Z (born 1996-2012) and millennials (born 1980-95) the most affected and least confident of a recovery. Shoppers expect to reduce their discretionary spending, except for grocery and household products, across most purchase categories. Furthermore, despite the overall downturn in spending, online shopping and digital activity have grown, mainly driven by consumers that have maintained their household income. There was an initial decline in the demand for bedding products, such as mattresses. However, due to work-from-home and social distancing measures, more and more people are staying at their homes. The usage of social media and other online channels increased multi-fold. As homes started becoming the new hubs for work and family time, people are spending even non-sleeping hours on their beds. All these factors lead to the increase in demand for high-quality mattresses.

Australia's mattress industry is still affected by other factors, such as the speed of renovating existing houses, expansion of new houses, and innovation in traditional sleep concepts. Consumer groups are expanding in Australia's mattress market and have the potential for further development. Consumers in the market highly regard a functional and healthy mattress due to changing lifestyles and sleep disorders. Replacement of bedding is forecasted to lead to the growth of the mattress market in Australia.

Australia Mattress Market Trends

Hotel Industry is Driving the Market Growth

Melbourne, Sydney, Perth, and Brisbane were identified as cities leading the way in hotel development. A shift towards experiential travel, locally styled hotels, and authentic travel experiences are seen in tourist preferences. Hence, lifestyle and boutique hotels are on the upsurge, and their frequent refurbishments and renovations will drive strong growth in hotel mattress demand in the future. The price of hotel mattresses in Australia is expected to rise by 3.0% by 2025. King and queen-size mattresses are also likely to extend their dominance going forward. Leading players in the industry are looking to introduce oil-scented mattresses for premium hotel clientele coupled with product innovation and integration of advanced technologies.

Smart Home And Mattress is Driving The Market

Consumers worldwide have shown an increased interest in and adoption of smart home technologies in recent years. Due to their ease, automation possibilities, and connectivity with mobile devices, smart home products, such as gadgets like smart speakers, thermostats, and security systems, have become increasingly popular. The people of Australia are tech-savvy and open to innovations. Smart mattresses may be more appealing to consumers who are already comfortable using smart gadgets and exploring the advantages of home automation.

Australia Mattress Industry Overview

Companies across the world have huge investments in this segment of the market. In Australia, the Mattress market has many companies concentrated over minor shares. Australian Comfort Group, Dyer Holdings Pty. Ltd. - Sealy of Australia, Joyce Corporation Ltd, A H Beard Holdings Pty Ltd., Wonderest Ltd, Koala Sleep Pty. Ltd., Tontine Pty. Ltd, Tempur Australia Pty Ltd are amongst the mattresses, fixtures, etc.

Adopting smart Mattresses and upgrading to new mattresses leads to increased competition in the company. Innovation and technological advancement accelerated as COVID-19 and urbanization struck general people to adopt the new bedding and mattresses.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support