The rising consumer preference for customized mattresses is one of the major trends being observed in the region's mattress market. Immersed in a work-from-home revolution, people are working from their beds, watching movies in the sack, spending more time at home, and, consequently, deciding to upgrade their sleep setup. The upshot is that after years of turmoil caused by bankruptcies, store closures, and intense competition, the mattress industry is suddenly flourishing during a pandemic that has reoriented people’s budgets.
A typical mattress sold in North America had an innerspring core and cotton batting or fiberfill. Modern mattresses usually contain either an innerspring core or materials such as latex, viscoelastic, or other flexible polyurethane foams. Other fill components include insulator pads over the coils that prevent the bed's upholstery layers from cupping down into the innerspring, as well as polyester fiberfill in the bed's top upholstery layers. China and North America were the largest consumption market in the world, which respectively took about 26.69% and 26.65% of the global consumption volume.
The drivers that influence the mattress market growth are the International hotels demand, rising in disposable incomes and growth of the hospitality sector. The consumers in this market are much interested in the focus on sleep quality growing regularly. On the other side, scarce availability of raw materials leads to increase in the price of premium products.
Key Market Trends
Smart Mattress Market is Driving the Market
Smart mattress apart from holding its position in the premium segment has a lot of medical purposes to it as well. They are recommended to patients who suffer from insomnia, sleep amnesia, and other sleep-related problems.
They also provide convenience, allowing users to control everything about their mattress from a remote device. Some of these products even offer advice on how they can improve their quality of sleep over time, and ways they can change their daily routines in the best interest of their health. Other products on the list focus more on the comfort provided by the mattress itself, allowing users to adjust specific sections of their beds to fit their needs. They track your sleep stats like a health tracker, adjust according to your position preference, and some even connect to smart home devices so you can do cool automation like starting your coffee brewer right after you wake up.
Residential End Use To Accelerate Fastest in Market
The residential category, on the basis of end-use, is projected to exhibit the highest during the forecast period. According to the International Sleep Products Association (ISPA), the mattress replacement period among residential end-users has reduced to 6–8 years, and this is projected to increase the demand for mattresses among them during the forecast period. The increasing construction activities in the region were the prime driver for its mattress industry. For instance, metropolitan Atlanta, US has been witnessing rapid urbanization, with the addition of 69,200 residents every year. This trend is projected to drive the market during the forecast period.
The North American mattress market is highly competitive. Major players account for significant shares in the market. With the presence and expansion of these numerous local players, the market is highly competitive, wherein the players are leveraging the potential demand for the mattress. The most adopted strategies by the key players in the mattress market are geographic expansion and new product launches, followed by a few partnerships.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of Covid 19 on the Industry
5.1.2 Memory Foam
5.2 By Application
5.3 By Distribution Channel
5.4 By Geography
5.4.1 United States
6.2 Company Profiles
6.2.1 Serta, Inc.
6.2.2 Sealy, Inc.
6.2.3 Tempur-Pedic, Inc.
6.2.4 Ashley Furniture
6.2.10 Select Comfort
A selection of companies mentioned in this report includes:
- Serta, Inc.
- Sealy, Inc.
- Tempur-Pedic, Inc.
- Ashley Furniture
- Select Comfort