Mattress Market Size, Share & Trends Analysis Report By Size (Queen, King), By Type (Hybrid, Foam), By End-use (Household, Commercial), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global mattress market size was valued at USD 39.4 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. Increasing product demand from the real estate sector to serve the needs of the residential segment has led to an increase in the sales of home furnishings, such as mattresses, pillowcases, and bed linen products, among others. However, the COVID-19 pandemic has impacted the growth of the market. People were reluctant to leave their homes because of the pandemic. As a result, the e-commerce sector has experienced growth, and businesses are creating innovative tactics to enable customers to purchase mattresses from the convenience of their homes.

Consumer willingness to pay for sleep solutions has changed significantly worldwide, not just in the major cities but also in smaller cities and towns. People’s desire to conduct in-depth research, compare pricing and make knowledgeable selections when purchasing mattresses and other sleep solutions have substantially improved as awareness has expanded. The increasing number of luxury hotels in the U.S. is also expected to significantly contribute to revenue growth as the bedding used in these hotels is of superior quality. These products cost a lot more than regular bedding products and this is projected to positively impact the mattress market.

In addition, lifestyle inflation has become a common occurrence among generations X, Y, and Z, and there has been a gradual increase in expenditure with rising incomes. According to research conducted by the Federal Reserve Bank of New York in September 2019, lifestyle inflation is common among low-, middle- as well as high-income individuals. An average American head of the household aged 35 to 44 years carries a non-housing debt of over USD 100,000. Although, the high cost of replacing a mattress makes them unaffordable for middle-income consumers. For instance, according to a blog by Tuck, the average price of a memory foam mattress in 2019 ranged between USD 1,000 and USD 1,100.

Latex mattresses were priced higher compared to other mattress types, ranging from USD 1,900 to USD 2,000. Thus, manufacturers are under continuous pressure to reduce costs while offering quality and premium products to enhance their sales volume as well as contribution to their overall revenue. Furthermore, industry players face intense competition, especially from top manufacturers as they have a larger customer base. Strong brand recognition and vast distribution networks also intensify the degree of rivalry among companies. The key players have been implementing various expansion strategies, including partnerships and product launches, to grow in the industry. Moreover, manufacturers are increasingly focusing on the production of smart mattresses.

Type Insights

On the basis of types, the global industry has been further categorized into innerspring, foam, hybrid, and others. The foam type segment dominated the global industry in 2021 and accounted for the maximum share of more than 44.85% of the overall revenue. The segment is projected to expand further at the second-fastest growth rate retaining its leading position throughout the forecast period. Foam mattress is likely to witness stable growth during the forecast period on account of its benefits, such as proper spine alignment, pressure point relief, and resistance to dust mites and allergens.

Foam mattresses are compatible with a wide range of adjustable beds, further making it a preferred choice among consumers and this is the major factor driving this segment’s growth. The hybrid segment is projected to register the second-fastest growth rate CAGR from 2022 to 2030. A hybrid mattress is layered with springs and then a comfort layer on top. The comfort layer would consist of latex, polyfoam, cooling gel, or memory foam. For instance, a New York-based company named Casper Sleep Inc. provides a hybrid mattress that contains comfort foam, memory foam, a transition layer with Zoned Support, and pocketed coils.

Size Insights

On the basis of sizes, the global industry has been further categorized into single, double, queen, and king-size mattresses. The queen size segment dominated the global industry in 2021 and accounted for the maximum share of more than 46.10% of the overall revenue. The segment is projected to expand further at the second-fastest growth rate retaining its leading position throughout the forecast period. The popularity of queen-size mattresses has expanded along with the adoption of queen mattresses.

A queen mattress fits comfortably in the majority of bedrooms, and because of its popularity, a variety of accessories and linens are available in this size. On the basis of sizes, the king size segment is projected to register the fastest growth rate during the forecast period. A king bed is a huge mattress variety that can fit at least two individuals and even have extra space for young children or a large pet. For people who like more space to sleep in, king-size mattress is the right fit among standard-sized beds.

End-use Insights

On the basis of end-uses, the global industry has been further categorized into household and commercial. The household end-use segment dominated the global industry in 2021 and accounted for the maximum share of more than 77.80% of the overall revenue. The segment is projected to expand further at the fastest CAGR retaining its leading position throughout the forecast period. Housing is becoming more accessible, according to the Organisation for Economic Co-operation and Development (OECD), due to government measures and the global average annual growth rate of disposable income of over 2% in 2019.

This is further estimated to make constructive addition to the market growing offering key players with enormous opportunities to expand their product portfolio and widen consumer outreach. The commercial segment is projected to register a steady growth rate during the forecast period. Factors, such as economic development, the rapidly growing tourism industry, and developing healthcare centers to accommodate the maximum number of patients, are likely to augment the demand for bedding in the commercial end-use segment.

Distribution Channel Insights

On the basis of distribution channels, the global industry has been further categorized into offline channels and online channels. The offline distribution channel segment dominated the global industry in 2021 and accounted for the maximum share of more than 68.00% of the overall revenue. The segment is projected to expand further at a steady CAGR retaining its leading position throughout the forecast period. Physical stores, such as hypermarkets and specialty stores, that sell mattresses are included in the offline distribution channel, which is a common approach for the purchase of a mattress.

When compared to e-commerce distribution channels, the operational cost of offline channels is relatively higher. Customers may touch and feel the products and choose from a number of options when they visit a store. On the other hand, the online distribution channel segment is estimated to register the fastest growth rate during the forecast period. Major industry participants, such as Wakefit, use the roll-pack technology that allows that mattress to fit into a compact form. This enables the shipping of the product easy and in a safe manner worldwide.

Regional Insights

On the basis of geographies, the global industry has been further categorized into Asia Pacific, North America, Europe, Middle East & Africa, and Central & South America. Asia Pacific dominated the global industry in 2021 and accounted for the maximum share of more than 37.90% of the overall revenue. The regional market is projected to expand further at the fastest CAGR maintaining its dominant position throughout the forecast period. Significant growth in the home textile sector in countries, such as China, India, and Japan, has resulted in the abundant availability of bedding textiles. This, in turn, has boosted product application in the residential and commercial sectors.

The North America region is also expected to witness a considerable growth rate from 2022 to 2030. Major home improvement projects undertaken by consumers in the region are boosting the demand for high-end mattresses. According to the budget for 2019, the Canada Mortgage and Housing Corporation spent USD 943 million in the period of 2019 to 2022 to provide financial assistance to first-time home buyers. This initiative favored the growth of the mattress industry by supporting the residential construction sector growth.

Key Companies & Market Share Insights

The global industry is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trends of mattresses. Players in this industry are diversifying the service offering to maintain their market share. For instance,

• In October 2019, Boll & Branch partnered with Nordstrom Inc., an American chain of luxury department stores, to make its products available in Nordstrom’s 21 stores. This is the first time the company’s products are going to be available through a third-party retailer

• In January 2019, Southerland Sleep acquired Tualatin Sleep Products, a U.S.-based bed maker. Both manufacturers are licensees of the Englander brand. This acquisition enhances Southerland’s nationwide distribution network, especially in Idaho, Oregon, Washington, Montana, and Wyoming

Some of the key players operating in the global mattress market include:

• Tempur Sealy International, Inc.

• Serta Simmons Bedding LLC

• Spring Air International

• Sleep Number Corp.

• Kingsdown, Inc.

• Southerland Sleep

• Boll & Branch

• Casper Sleep Inc.

Mattress Market Report Scope

Global Mattress Market Segmentation 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global mattress market report on the basis of type, size, end-use, distribution channel, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Innerspring

  • Foam

  • Hybrid

  • Others

• Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Single

  • Double

  • Queen

  • King

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Household

  • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

    • Saudi Arabia

    • South Africa