Mattress Market

Global Mattress Market to Witness US$43.43 bn Increase In Terms of Revenue By the
End of 2024
The global mattress market is envisaged to be moderately consolidated in the upcoming
years, as per a recent publication by Transparency Market Research (TMR). Simmons
Bedding Company LLC, Serta Inc., and Sealy Corporation are the top three names in the
global mattress market that collectively held more than 50% of the market in 2015. These
companies in commanding position could also be steering development trends in the overall
mattress market.
As per estimates presented by TMR, the global mattress market will rise at a CAGR of 6.5%
for the forecast period between 2016 and 2024 to reach a valuation of US$43.43 bn by the
end of 2024. The market was evaluated to be worth US$24.70 bn in 2015.
The innerspring mattress product type held the leading share in 2015, and going forward the
segment is expected to progress at a CAGR of 6.1% between 2016 and 2024. Asia Pacific is
expected to hold promise for the global mattress industry with the region accounting for
more than 38.0% share in 2015.
Revival of Global Economy Boosts Sale of Mattresses
The global mattress market is expected to be driven by a number of factors in the coming
years. Increasing home refurbishment pursuits and increasing number of home ownership
are driving sales of mattresses. The revival of the economy in countries of Europe and North
America post the economic slump of 2008 is witnessing upward trend for sale of new
homes. All these factors are expected to lay a strong foundation for the growth of the global
mattress market.
Economic development in several countries of Asia Pacific, Africa, and Latin America have
upped domestic and commercial construction over the past few years. This is expected to
boost the demand for mattress for residential and commercial spaces. Moreover, rising
disposable incomes has been a key factor for spending on premium mattresses that offer
excellent comfort and sound sleep. Aggressive migration from rural to urban areas in these
countries for work opportunities is fuelling the demand for mattress.
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The growth of the hospitality industry across the world is also having a positive bearing on
the global mattress market. Some of the large hotel chains in the world display demand for
made to order mattresses that are high in comfort and offer sound sleep.
This, along with the availability of a wide range of products in terms of style, size,
thickness, firmness is helping the global mattress market tread along development path.
Fluctuating Raw Material Prices and Hike in Labor Cost Trouble Vendors
However, on the flip side, perpetual increase in price of raw materials is increasingly
becoming a concern for mattress manufacturers for the manufacture of high quality
products. Not only this, scarce availability of some raw materials that are obtained from
natural resources is resulting in suppliers to raise prices in the middle of a heightened
demand. These factors are leading cost sensitive consumers in emerging markets to switch
to local products. Moreover, escalating labor cost leading to hike in prices is negatively
impacting the global mattress industry.
However, the booming construction industry and population growth in developing countries
is expected to set the tone for growth of the world mattress market.
The review presented here is based on the findings of a report by Transparency Market
Research, titled “Mattress Market (Product Type - Memory Foam, Hybrid, Innerspring,
Latex Mattresses; Product Size - Twin or Single Size Mattress, Twin XL Size Mattress, Full
or Double Size Mattress, Queen Size Mattress, King Size Mattress) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
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The global mattress market is envisaged to be moderately consolidated in the upcoming years, as per a recent publication by Transparency Market Research (TMR). Simmons Bedding Company LLC, Serta Inc., and Sealy Corporation are the top three names in the global mattress market that collectively held more than 50% of the market in 2015. These companies in commanding position could also be steering development trends in the overall mattress market.

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