With an average life span of 8 years, the mattress disposing is considered a biggest drawback. Provided that the companies offer an easy buyback, the chances of increasing in the purchase frequency is higher. The market is well aided with the increasing
By lying on piles of leaves, straw, and animal skins, early humans were able to sleep more comfortably and more soundly than they could have on hard surfaces. With the human evolution, the mattress also became an integral part of daily life and thus evolving itself to provide a better comfort. The report on Global Mattress Market Outlook, 2020-25, by Actual Market Research is a balanced blend of factual based information, valuable insights, and implementable recommendations for both, the existing companies in the industry as well as the potential new entrants. The overall mattress market was recorded at USD 28.54 Billion in the year 2014 and is expected to grow with a CAGR of more than 7%.
In 2019, the global hotel industry was worth USD 570 Billion. The hotel industry is consistently growing, with over 700,000 hotels around the world, recovering well from the 2008 recession. This incline in the hotel industry has a great influence on the mattress market. Commercial grade mattresses are designed for the extra abuse that hotels and resorts get. Highly dominated by offline retailers, the online mattress market is at comparatively a preliminary stage. As the millennial customer are more attracted towards the online shopping methods, that provides added discount and free trials, the online mattress retails is expected to grow with a CAGR of more than 20%, by the forecasted period.
The purchase decision for a good mattress depends on many factors such as price, availability, and the material. This has a huge impact on the type of mattress preferred by buyers. Being the oldest form of mattress, the innerspring mattresses are common across the world, holding up to a share of more than 50% in the market. Willingness to explore newer options is the reason for the growth of the different types of mattresses. Even though the market seems to be opportunistic, the challenges of less spacious houses and a high dominance of the unorganized market in the developing countries hamper the growth.