Latin America Mattress Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

Latin America Mattress Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

The mattress industry is gradually transitioning from unbranded to branded products. With roughly 20-25 companies spread across countries, the branded market, which includes major, mid-size, and smaller manufacturers, accounts for a significant portion of the industry. Because a wider market still prefers touch-and-feel mattress purchasing, the offline retail industry dominates the country's market.

Most of the Latin American countries are struggling to break free from what economists refer to as the middle-income trap. While not the entire area has risen out of poverty, neither growth nor productivity has increased enough to close the gap between Latin America and the world's most developed economies. Economic difficulties have had an indirect impact on the total mattress market in the region.

The rise in demand for smart mattresses is also due to the expansion of the mattress market. People's living standards have risen as their disposable money has increased, creating a need for comfort and convenience. As a result, luxury furnishings, such as mattresses, are in high demand.

Mattress demand was negatively impacted in 2020 because of the COVID-19 pandemic. Manufacturers were harmed by quarantines and partial industrial closures. During the pandemic, this resulted in a shortage of raw materials and finished products, which substantially impacted the mattress industry's growth.

Key Market TrendsThe Mattress Market in Latin America is Dominated by Brazil

Brazil is the market leader in Latin America's mattress market, which is predicted to show a slight decline in the future years. Brazil accounted for more than 40% of the entire mattress market; Columbia, which came in second, is predicted to increase at the fastest rate throughout the anticipated period. Due to lower freight costs and market operations, the mattress in a box model is becoming increasingly popular in Brazil. It has the largest market share, owing to customers' high levels of sleep comfort. Hotels, on the other hand, have a strong need for mattresses. Unorganized players are projected to lose a significant amount of market share. According to a survey, 80% of Brazilians have problems at bedtime, which could push mattress sales in the market to provide residents with a decent night's sleep. Consumers are buying mattresses from online channels thanks to the internet, which keeps them informed about mattress types and saves them time. Mattresses made to order are in high demand across the World. Market firms are also introducing hybrid mattresses with magnetic, infrared, and rattan elements.

Foam Mattress Production Dominating the Market

Sleep quality, health, and well-being have all grown crucial to Brazilian consumers, as have mattresses. Due to rising health concerns, people are increasingly opting for foam mattresses, which can readily conform to their shape and size. However, the Brazilian government has enacted various laws that have had a detrimental influence on category sales due to the fabrication of low-cost Polyutherane foam, bogus certifications, and therapeutic claims without scientific proof. However, as people's lifestyles become more chaotic and sedentary, therapeutic and hybrid mattresses are projected to expand in popularity.

Competitive Landscape

The Latin American mattress market is fragmented with many local and global players present in the market. There is a rise in competition in the mattress market for a new retailer to establish its brand value. Some of the key players in the Latin American mattress market are Colchao Inteligente, Casper Sleep, Inc., Dunlopillo GmbH, Innocor Inc., Kingsdown, Novosbed Inc., Silent Night Group, Simba Sleep Limited, Tempur Sealy International, Paramount Bed Holdings Co. Ltd and Other prominent players.

Additional Benefits:

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

Companies Mentioned
 
Tempur Sealy International Inc.
Colchao Inteligente
Casper Sleep, Inc.
Dunlopillo
Innocor Inc.
Paramount Bed Holdings Co. Ltd
Kingsdown Inc.
Novosbed Inc.
Silent Night Group
Simba Sleep Limited*

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