Global Mattress Market Witnesses Growth Amidst Pandemic Challenges

Dive into the evolving Global Mattress Market Report (2019–2030) with varied products, applications, and regions. Explore growth trends and opportunities worldwide.
By: Makreo Research and Consulting
 
CALIFORNIA CITY, Calif. - March 1, 2024 - PRLog -- The global mattress market has experienced significant growth despite challenges posed by the pandemic. From USD 37 billion in 2018, the market surged to USD 40 billion in 2019, representing a remarkable year-on-year growth rate of 9.92%.

Market Trends Amidst the Pandemic: Despite the pandemic's adverse effects, the mattress industry saw notable expansion within the broader furniture sector. With individuals spending more time at home, the demand for home improvements surged, leading to a 10% increase in the global mattress market. Retailers responded by enhancing their inventories to meet the rising demand.

Market Decline in 2022: However, in 2022, the market saw a decline to 1.80% as pandemic restrictions eased, and consumer spending shifted away from home-related products. High inflationary pressures further dampened purchasing power, resulting in reduced demand for mattresses.

Regional Insights:
  • North America: The mattress market in North America experienced a significant decline, with the U.S. witnessing a 10.7% reduction in wholesale dollar value of shipments in 2021.
  • Asia-Pacific: China leads in online mattress sales, with significant growth expected in India in the coming years.
  • Europe: The United Kingdom and Germany dominate the European mattress market, while Italy and Spain lag behind in online sales.

South African Market Dynamics: The South African mattress market is stable, driven by demand from both residential and non-residential sectors.

Factors Driving Market Growth:
  • Real estate and hospitality sectors in emerging economies like China, India, and Brazil are creating strong demand.
  • Changing demographics, including a growing middle class and millennial consumers, are boosting market growth.

Rise of Innerspring Mattresses: The Innerspring Mattress Market has seen a surge in production, driven by consumer demand and technological advancements.

Competition Matrix: Key players are diversifying their offerings to maintain market share. For example, Hästens Ltd launched a new mattress line, and Serta Simmons Bedding collaborated with Nate Berkus to launch a Limited-Edition sleep collection.

Conclusion: The future of the mattress industry looks promising, with factors like rapid urbanization and increased disposable incomes driving demand for high-quality mattresses. The industry is expected to embrace innovative technologies and sustainable practices to meet evolving consumer needs.

Subheading: Global Mattress Market Analysis:
  • How can a comprehensive analysis of the global mattress market help businesses identify growth opportunities?
  • What insights can businesses gain from understanding market dynamics and consumer behavior?
  • How can businesses leverage market trends to enhance their competitive edge?

This condensed version highlights the key points of the press release while maintaining clarity and relevance.

To Know More About the Research Study:
Global Mattress Market Size and Forecast (2019-2030) (https://www.makreo.com/report/global-mattress-market-size...)

Related Reports:

Europe Mattress Market Size and Forecast (2018-2030) (https://www.makreo.com/report/europe-mattress-market-size...)

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