Mattress Market Size, Industry Share & Analysis, By Material (Spring/Coil, Foam, Latex, and Others), By Size (Queen, Twin, Full, and Others), By Application (Household, Hospitality, Healthcare, and Others), By Distribution Channel (Offline and Online), and Regional Forecast, 2024-2032

The global mattress market size was valued at USD 52.45 billion in 2023 and is projected to grow from USD 54.75 billion in 2024 to USD 91.23 billion by 2032, exhibiting a CAGR of 6.59% during the forecast period. North America dominated the mattress market with a market share of 32.16% in 2023. The mattress market in the United States reaching an estimated value of USD 24.20 billion by 2032, driven by the rising adoption of sensor technology-based mattresses to boost product demand.

Mattresses provide necessary support and comfort to the entire body, maintaining proper spinal alignment, thus propelling product demand. Market players are investing in innovative product development to accelerate sales. For instance, in January 2023, GhostBed, a U.S.-based manufacturer, announced a partnership with Cozzia, a U.S.-based massage chair manufacturer, to launch a new remote-controlled mattress enabling users to experience a full-body massage. This partnership empowered both companies to provide an innovative product to consumers.

The economic growth of the market was significantly affected due to the COVID-19 pandemic, with challenges such as logistics and supply chain disruptions, retail activity pauses, and reduced consumer spending, affecting numerous industries. The closure of manufacturing facilities, retail stores, and mattress warehouses significantly affected the market growth. The global market experienced significant changes due to the pandemic, fostering increased awareness of individual well-being and health, subsequently driving product demand. However, manufacturers and retailers globally observed a shift in consumer demand from offline to online amid the novel COVID-19 outbreak.

Mattress Market Trends

Customization Trends and Innovative Product Offerings is a Latest Trend

The growing preference of custom-made or customizable products, tailored to specific customer requirements in terms of size, design, and comfort, is driving the product demand. For instance, Sheela Foam, an India-based manufacturer, provides a customized range with different firmness levels tailored to individual consumer specifications and design preferences.

Manufacturers such as Emma Sleep and Amore Mattress cater to individuals seeking heightened comfort based on factors such as body structure, weight, body type, and age. These manufacturers customize products in terms of design, color, and size to seamlessly integrate with bedroom aesthetics, thereby boosting product demand.

Mattress Market Growth Factors

Rising Number of Housing Units to Favor Market Expansion

The rising number of housing units globally is a key driver for the global mattress market growth. According to a report by the World Bank Group, a government organization of five institutes, in 2021, projected that 55% of the world’s population will be residing in urban settlements. The rising population, changing family structure, and increasing disposable income drive the number of housing units globally, positively influencing the global mattress market trends.

Increasing Consumer Awareness Regarding Health Benefits of Better Sleep to Accelerate Product Demand

Rapidly changing consumer demographics and lifestyles are fueling a rise in health-conscious consumer segments, leading to a surge in product sales. Customers, placing a premium on quality sleep and adopting healthy sleep routines, contribute to increased demand for these products. Buyers suffering from back pain are upgrading their products to support their health and well-being. Furthermore, manufacturers are focusing on developing products with adjustable firmness to enhance user comfort and enhance overall sleep quality.

RESTRAINING FACTORS

Higher Product Lifespan to Hamper Product Sales

The global market features both organized and unorganized players, fostering intense competition. With an average lifespan of seven to ten years, a mattress’s quality and usage significantly impact its longevity. Major manufacturers such as Bedgear manufacture breathable mattresses with customizable firmness levels, potentially extending product lifespan but can hamper market growth. Additionally, a lack of standardization in product sizes leading to lower-quality offerings, presenting a significant challenge for manufacturers and limiting the market growth.

Mattress Market Segmentation Analysis

By Material Analysis

Spring/Coil-based Segment Dominated the Market owing to Back Pain Relief

Based on type, the global market is segmented into spring/coil, foam, latex, and others. 

The spring/coil segment dominated the global market in 2023. Spring/coil-based or innerspring are a traditional type of mattress typically preferred by individuals with lower back pain. These products are made with spring wrapped in fabric and are highly beneficial for individuals with back pain, thus increasing their demand.  

The foam material is the highest-growing segment due to the rapidly increasing demand for cushioning comfort among users. Foam is becoming an increasingly popular material as it offers comfort to the body and reduce pressure on the spine, driving its demand globally.

By Size Analysis

Queen Size Segment to Lead owing to Rising Need for Space

Based on size, the market is segmented into queen, twin, full, and others.

The queen segment is estimated to dominate the global market share throughout the forecast period. Queen-sized products can easily accommodate two people and are versatile in firmness and durability. These products are more affordable than their king-size counterparts and ideal for kids, adults, or guests.

The growing demand for twin-size products, particularly for kids, prompts manufacturers to invest in product innovation and launching various new products. For instance, in December 2022, Birch, a U.S.-based brand, announced the launch of Birch Kids Natural Mattress, made with sustainable material crafted for growing children. The other segment includes sizes such as King and California King.

By Application Analysis

Household Segment to Secure the Highest Share due to Increasing Number of Households

Based on application, the market is divided into households, hospitality facilities, healthcare facilities, and others.

The household segment is estimated to hold the highest market share over the forecast period, mainly due to the increasing number of households globally. The growing population and rising consumer spending capacity contribute to the expansion of households globally. Individuals' increasing standard of living, coupled with growing consumer willingness to invest in comfortable sleep solutions, propels market growth.

Hospitality facilities segment is the fastest growing segment due to the growth in the number of establishments of hotels, lodges and motels backed by the increasing tourism sector in North America, Europe, and Asia Pacific countries. The growth in global tourism as a popular leisure activity is another significant factor driving product sales.

By Distribution Channel Analysis

Offline Segment to Capture the Highest Market Share owing to In-Store Offers

Based on distribution channels, the market is categorized into offline and online. The offline segment is estimated to capture the highest market share in the coming years, mainly due to an increase in the number of retail stores and the attractive discounts they offer. Offline stores constitute supermarkets, hypermarkets, and specialty stores.

The online segment is the fastest-growing segment, backed by increasing market participants operating within the e-commerce category. E-commerce sales channels such as Amazon offer attractive product discounts, accelerating product sales. At a macro level, the widespread adoption of e-commerce platform, particularly in North America, Europe and Asia Pacific, increases the global mattress market share.

REGIONAL INSIGHTS

Based on geography, the global market is categorized into North America, Europe, the Asia Pacific, South America, and Middle East & Africa.

In 2023, North America emerged as the most prominent market, where mattress industry players strive to provide durable and comfortable products in various sizes based on consumer demand. Tempur Sealy, a U.S.-based brand, known for manufacturing sustainable and comfortable collections, plays a pivotal role in favoring market growth. The rising trend of demand for premium and luxury products, especially in the United States., further accelerates sales.

The growing number of tourist arrivals in Europe propels the market growth. According to the European Commission, the government body of the European Union, in 2022, Spain was the most popular tourism destination in Europe for international tourists. As per Eurostat, a government agency operating under the European Union, approximately 62% of residents in the European Union (EU) made at least one personal tourism trip in 2022. This statistic highlights the business opportunities for various hospitality facilities, such as hotels and motels, in the forecast period.

Asia Pacific is expected to register the fastest growth during the 2024 to 2032 period, backed by the rapidly rising number of housing units in India and China. According to the ‘Indian Real Estate Industry Report’ published in 2023 by the India Brand Equity Foundation (IBEF), the residential property market witnessed an increase, with the value of home sales reaching USD 42 billion, marking a 48% year-on-year increase. The volume of sales exhibited a 36% rise to 379,095 units sold in 2022.

Mattress sales across the South American, Middle Eastern, and African markets are forecast to witness growth in the coming years. In recent years, industry participants have been focusing on expanding their market share in these regions, which boosts product sales. For instance, in 2023, Emma Mattress, a Germany-based brand, projected over 100% growth in sales in Mexico by cost-effectively optimizing its marketing channels.

KEY INDUSTRY PLAYERS

Key Players Employ Eco-Friendly and Sustainable Materials to Achieve Product Differentiation

Key players are adopting various strategies such as new product launches, mergers & acquisitions, and expansion of manufacturing units to increase market share. Manufacturers are increasingly adopting eco-friendly materials for sustainable end products. Furthermore, an increase in e-commerce sales due to online discounts and easy accessibility boosts market growth.

The growing popularity of mattress in a box for better space utilization and cost effectiveness, especially among millennial consumers, drives market growth globally. Purple, BedInABox, and Nectar are the popular brands within the bed-in-box space. Manufacturers aim at product differentiation in terms of design and comfort for these mattresses to accelerate sales.

List of Top Mattress Companies:

• Serta Simmons Bedding, LLC (U.S.)


• Tempur Sealy International, Inc. (U.S.)


• Sleep Number Corporation (U.S.)


• Paramount Bed Holdings Co. Ltd (Japan)


• Kingsdown, Inc. (U.S.)


• Grupo Pikolin (Spain)


• King Koil Mattress. Co (U.S.)


• Suibao Group (China)


• Greiner AG (Austria)


• Sheela Foam Ltd (India)

KEY INDUSTRY DEVELOPMENTS:

• November 2023- Serta Simmons Bedding LLC, a U.S.-based company, opened its new state-of-the-art manufacturing plant in Wisconsin for mattress and other bedding products production.


• November 2023 – Emma, a Germany-based brand, ventured into the online mattress industry in India, offering its products on its India website along with E-commerce platforms such as Amazon.


• February 2023 – Hästens Ltd, a Swedish manufacturer, launched a new line under the drēmər brand. The drēmər mattress, featuring woven fabric upholstery, was launched in four colours: Phantom Charcoal, Natural Shale, Black Shadow, and Traditional Blue.


• May 2023 – Tempur Sealy International Inc., a U.S.-based brand, announced the acquisition of Mattress Firm, a U.S.-based omnichannel retailer.


• May 2022 – Serta Simmons Bedding LLC, a U.S.-based company, launched their latest Beautyrest Black collection for mattresses. The collection features luxurious designs for mattresses that are made using luxury materials such as cashmere for enhanced airflow and breathability.

REPORT COVERAGE

The market report analyzes the market in-depth and highlights crucial aspects such as prominent companies, product types, and sizes. Besides this, the research report provides insights into the market trends and highlights significant industry developments. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market growth.

Report Scope & Segmentation