Increasing disposable income, consumer confidence and growing population are the major drivers of the mattress market. Effective marketing and efficient operations are the major decisive factors when it comes to profitability of individual companies in this market. Large companies in the market take the benefit of economies of scale in distribution, manufacturing and marketing while small companies in the market offer new technologies and better customer service by focusing on regional markets.
Mattresses are large pads used as a bed or part of a bed. It consists of quilted or similar fastened case, usually made up of cloth which contains straw, cotton, foam rubber or a framework of metal springs. Some of these mattresses are filled with water or air. The mattress can be classified into specialty and non-specialty mattresses which can be further classified into waterbeds, viscoelastic foam mattress and air mattress.
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The Global mattress market witnessed a significant change in the last few years attributed to changing demographic of mattress customer. The growing need to feel younger and energetic among the aging population is also driving the growth of the market. Improvement in manufacturing processes and availability of new and low-cost raw material is changing the market dynamics. These factors decide the profitability of the key players of this market. Moreover, increasing profit margins for the manufacturers due to advance production processes is another factor driving the growth of the market.
The importance of sound sleep for overall health improvement as suggested by many medical practitioners is realised by health conscious people. Moreover, now it’s not uncommon to see younger population to spend more money to purchase superior quality mattress. Such trends are supporting the growth of the market worldwide. Consumers with high disposable income are conscious about brand and comfort associated with the mattresses, and thus, this market can reap the benefits of improving aesthetics and housing markets.
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Another trend observed in the market is the growing demand for specialty beds. These specifically include water beds and air beds. Recent development in the technology related to the manufacturing process of water beds is boosting the growth of the market. Air beds are complex as compared to other mattresses. The flexibility offered with the Air beds such as the option of changing the firmness of sleep surface with a switch is supporting the growth in the demand for Air beds in the market.
One of the major challenge is the high cost of the mattress in some markets specially the market with price conscious consumer. Although, new developments in the manufacturing sectors and economies of scale are able to reduce the cost, there are markets where mattress have high cost.
The market can be segmented on the basis of geography as Europe, Asia-pacific, North America and Rest of the world. Although, America has been a leader in terms of consumption and production, developing economies especially China and India have demonstrated high growth rate and competitiveness in the market.
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The Global mattress market is experiencing significant amount of innovation and product development activities. In March 2016, Tempur Sealy had launched Cocoon, a new offering below USD 1000, made with high quality materials. The new mattress cost about USD 849 including free shipping. Such innovations and new products is expected to be a deciding factor for the growth in the market.
The key players in the market are Comfort Solutions, Tempur-Pedic Management Inc., Kingsdown Inc., Simmons Bedding Company, Spring Air International LLC, Reylon Limited, and Serta International.
The report provides market estimates for the base year 2014 and a yearly forecast to 2022 in terms of unit shipments (Million Units) and revenue (USD Billion). Market for each product and content quality segment has been provided on a regional basis for the above-mentioned forecast period. The report includes key industry dynamics, regulatory scenario, key products and content quality segment are evaluated to understand their impact on demand for the forecast period. Growth rates were estimated using correlation, regression and time-series analysis.
Detailed information about the key segments of the market and their growth prospects are available in the report. The detailed analysis of their sub-segments is also available in the report. The competitive landscape of the market presented in the study profiles the most prominent players in the market.
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