Global Mattress Market Demand and Outlook to 2026 –Regional Performance Amid COVID-19 Crisis

Overview

Executive Summary 

Market Performance: The Global Mattresses market is expected to grow at a CAGR of 6.3% as demand for the product grows in the healthcare sector, which is supported by governments all over the world, as well as the thriving hospitality sector. Bedding product lines, as a prevalent household furnishing item, have witnessed a consistent demand over the years. In addition, new compact products in the bed-in-box category are proving to be convenient for users and simple to ship for retailers, gaining market traction. Due to increasing consumer demand, Kingsdown, one of the leading companies, introduced a Boxed-Bed type product in January 2020.

COVID-19 an Upward trend: Hospitals are increasing their demand for beds, which has resulted in a significant increase in the demand for mattresses. Kingsdown announced plans to expand its operations in response to the increasing demand for treatment and recovery beds caused by the increasing number of COVID-19 cases. The company is concentrating on accelerating its Care Xpress programme, which will provide medical-grade products. The company also announced the conversion of three of its mattress productions lines to the production of beds for use in momentary health care facilities centres during the disease outbreak.

Moreover, as the global population's purchasing power has been impacted by the lockdown, there's been a drop in demand for mattresses from the household and hospitality segments.

Changing Consumer Preferences: Consumers are more satisfied making large online purchases these days, which is continuously transforming the way people think about purchasing durable consumer goods like mattresses. In January 2021, the global average for internet penetration was 92.6 %. Companies that sell directly to consumers cut out the intermediaries and save money by avoiding commission fees and showroom fees. Online mattress retailers have attempted to overcome consumer apprehension about purchasing damaged or unwanted product by providing free rates of return within such a three-month window, and it appears to work to the extent that the online mattress space is expanding.

Increasing Sleep Disorders: Sleep deprivation is a massive concern that can lead to a variety of negative health effects. The availability of adequate cushioning to sleep on plays an important role in boosting the market. Furthermore, manufacturers are focusing hard to understand consumers' sleeping problems and develop products that meet their needs. Duroflex launched Duropedic, an orthopedic product certified by the National Health Academy, in India in 2019.
As a result, getting better sleep is anticipated to provide an opportunity for expansion in the bedding products industry in terms of customized product development.

Scope of the Study
The following synopsis is based on the report " Global Mattress  Market- COVID-19 Impact and Outlook to 2026" published by Makreo Research and Consulting Firm. The report delves deeply into various parameters such as market size, segmentation, value chain analysis, and industry cause and effect analysis. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.

The report helps readers to gain information on the following areas:

• What is the present scenario of the Global mattress market and what impact did COVID-19 has left over the industry?
• What all factors are contributing in the industry growth and what restraints are impacting industry performance?
• How the industry is segmented and which segment has a dominant role to play?
• Which segment offers high growth prospects and what are the key forces?
• Which geography is dominating the industry performance?
• How trade is fairing up and specific to mattress what is the current situation of a trade by region?
• How industry reacted to COVID-19 and what impact will it leave over industry’s future performance?
• Who are the leading international players and what is their present state in terms of financials and business performance?