Global Mattress Market to Benefit From Booming Construction Sector, to Reach US$43.43 bn by 2024, Says TMR

ALBANY, New York, August 5, 2016 /PRNewswire/ --

The global mattress market features a moderate level of consolidation, with the top three companies accounting for more than half of the overall market in 2015, observes a recent report by TMR. Sealy Corporation, Simmons Bedding Company LLC, and Serta, Inc., the leading three vendors in the global mattress market, thus command a prominent position in the market and are the key determinants of the market's overall development.

The rest half of the market is fragmented, with international players attempting to expand their consumer base amid intense competition from local vendors across key regional markets. Price is a vital factor affecting the overall sales of mattresses, especially in cost-sensitive emerging markets. In the next few years, the rising costs of mattresses owing to rising raw material and labor costs are expected to grant more power to local players over international mattress vendors and the competition is expected to further intensify.

Growth in Construction Sector and Rising Frequency of Home Renovation Activities Stimulate Demand for Mattresses 

Rise in the number of new homeowners, expansion of the hospitality industry, construction in the commercial sector, and home renovation activities are the primary factors leading to the increased consumption of mattresses across any region. In the past few years, stabilizing economies of North America and Europe post the economic depression of 2008 have had a substantial positive impact on the development of these sectors. The sales of new homes are seeing an upward trend across developed countries in these regions, rising from 5,50,000 in 2014 to 6,66,600 through the first half of 2015 in the U.S. alone.

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In emerging regions such as Asia Pacific, Latin America, and parts of Africa, strengthening economies have led to considerable rise in commercial and domestic construction activities in the past few years. In 2013, over 190 new hotels and around 47,350 new rooms were added to Asia Pacific's hotel industry.

Rising disposable incomes of the population in these regions are enabling homeowners to undertake home renovation activities more frequently. Migration from rural to urban areas and rise in home ownership owing to the rising population are also emerging as high-impact drivers for the mattress market in emerging economies.

Browse In Detail Regional Analysis: http://www.europlat.org/global-mattress-market.htm

Rising Costs of Mattresses to Lessen Appeal Among Cost-sensitive Masses 

The constant rise in the base costs of raw materials crucial for manufacturing high quality mattresses is worrying mattress manufacturers. In the past few years, the world prices of steel and polyurethane have witnessed vast fluctuations. Other raw materials acquired from a variety of natural resources are becoming increasingly scarce, forcing suppliers to ramp-up prices amid vast rise in demand. Additionally, rise in labor costs are also leading to increased prices of mattresses in the global market. Cost-sensitive consumers in emerging economies are the first and foremost demographic to respond to price hikes by switching to economic, local products made with cotton fillers.

Emerging economies hold the most promising growth opportunities for the mattress market owing to the vast population and flourishing growth in the construction sector. As such, high prices and their effect on reduced sales in emerging economies will have a major impact on the overall growth of the global mattress market in the next few years.

In terms of product type, the segment of innerspring mattresses is presently the largest contributor to the overall revenues of the global mattress market, accounting for nearly 80% in 2015. The segment is expected to rule consumer choices in the next few years as well, their market expected to expand at a favorable 6.1% CAGR over the period between 2016 and 2024. Asia Pacific led the market in terms of geographical segmentation, accounting for over 38% of the market in 2015.

On a whole, the global mattress market is expected to expand at a 6.5% CAGR over the period between 2016 and 2024. The market, which had a valuation of US$24.70 bn in 2015, is anticipated to rise to US$43.43 bn by 2024.

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This review is based on a recent market research report by Transparency Market Research, titled "Mattress Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."

For this study, the market has been segmented as follows:

Global Mattress Market, Product Analysis by Type 

• Memory Foam
• Hybrid
• Innerspring
• Latex Mattresses
• Others (gel filled mattress, water bed mattress, and air filled mattress etc.)

Global Mattress Market, Product Analysis by Size 

• Twin or Single Size Mattress
• Twin XL Size Mattress
• Full or Double Size Mattress
• Queen Size Mattress
• King Size Mattress
• Others (California king or king long size mattress and grand size mattress or super king size mattress, athletic king size mattress)

Global Mattress Market, Regional Analysis 

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• Italy
• U.K.
• France
• Rest of Europe
• Asia-Pacific
• China
• Australia
• India
• Rest of Asia Pacific
• Rest of the World (RoW)
• Latin America
• Middle East
• Africa

Other Research Reports by Transparency Market Research: 

• Specialty Printing Consumables Market: http://www.transparencymarketresearch.com/us-specialty-printing-consumables.html
• Water Purifier Market: http://www.transparencymarketresearch.com/water-purifier-market.html
• Digital Door Lock Systems Market: http://www.transparencymarketresearch.com/digital-door-lock-systems-market.html

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