Asia-Pacific Mattress Market Research Report, 2027

The history of mattresses in Asia was commonly crafted around the culture and society of countries. The resources available also influenced it as it dictated the material of these mattresses. Due to trading and globalization, more comfortable mattresses became available and people were no longer limited with their mattress choices. The growth of the mattress market in Asia-Pacific can be attributed to the increasing demand for home furnishings due to rapid urbanization and a growing middle class. Moreover, increasing per capita disposable incomes have led to the rising sales of a luxury mattress. The Asia mattress market is anticipated to expand with around 9% CAGR for 2022-2027, according to the report published Actual Market Research- ‘Asia Pacific Mattress Market Research Report, 2027’. Asia Pacific contributes to the highest global mattress market, with more than 35% of market share. Escalating expenditure in product innovation with the availability of various types of mattresses in emerging economies supported by ever-changing consumers' sleeping patterns and changing demand for types of mattresses has been anticipated to infuse growth in the market for mattresses during the forecasted period. In the late 19th century, coil spring mattresses became more available and preferred in the Southeast Asia region. Evidently, the innerspring mattress has been dominating the market by contributing more than 50% by the year 2027. With the increasing adaptation of westernization in the region, the other forms of mattresses, majorly memory foam mattresses started gaining popularity. Asia-Pacific is considered to be the largest user of mattresses owing to the large population of India, China, and Indonesia. The mattress market is driven by an increase in the number of households, a shift in consumer preferences, an increase in innovative technologies, an increase in demand for hybrid and gel-filled mattresses, favorable government policies, an increase in disposable income, and a shift in lifestyle. Spring mattresses accounted for most of the revenue in the Asia Pacific mattress market, followed by foam mattresses. The Asia Pacific is among the fast-growing and most promising areas for online mattress sales. Consumers are more comfortable making big purchases over the internet, which is constantly changing the way people think about buying durable consumer products such as mattresses. Even though the Asia Market is growing in trend with the global trends, India proves the other way round. The growth of the Indian mattress market has been propelled by a rise in income levels, increased health awareness, and growth in the real estate and hospitality industries. By selling directly to the consumers, the companies eradicate the middlemen and control costs by avoiding sales commissions and showroom fees. The growth is driven by the booming Chinese market accounting for nearly 80% of the total. With a high e-commerce penetration of over 20%, South Korea is the second-largest market for online mattress sales across the region. The interest in this area is also growing among foreign players. Emma-The Sleep Company announced in October 2020 the intention to invest about USD 90 million in Asia and India. On the other hand, there is a significant and continuously growing population of older individuals in various economies. Asia Pacific is also undergoing profound and rapid population changes. Many countries in Asia Pacific are in the process of aging at an unprecedented pace. According to a report by the United Nations Economic and Social Commission for Asia and the Pacific, in 2016, approximately 12.4% of the population in the region was 60 years and above. In Asia Pacific, China, India, Japan, Indonesia, Pakistan, and Thailand, are some countries with the highest number of people aged more than 65. As populations grow older, the need for various policies and services specifically targeted to older persons, such as housing and infrastructure, also increases. The growth in the aging population is promoting the demand for various health care services and products, including medical mattresses, aiding this market. The potential factors which have helped in increasing the demand for mattresses in the Asia Pacific region include rising number of health conscious people who are now ready to spend increased amount for health benefits, rapid urbanization in the region increasing affordability of mattresses and an inclining per capita total expenditure on luxury goods. These factors have cumulatively bolstered the overall market for furniture and furnishings in the Asia Pacific region in the recent years. Covid-19 Impact: Asia-Pacific mattress demand was negatively impacted in 2020 because of the COVID-19 pandemic. Manufacturers were harmed by quarantines and partial industrial closures. During the pandemic, this resulted in a shortage of raw materials and finished products, which had a substantial impact on the mattress industry's growth. Manufacturers have changed their strategy to recover from the current circumstances by introducing novel innovations like antivirus mattresses. The governments of various Asia Pacific economies took possible steps to restrict the spread of the virus by announcing a country-wide lockdown. The COVID-19 pandemic caused a significant economic loss in Asia Pacific. The lack of medical facilities in some countries of Asia Pacific impacted the demand for medical mattresses initially, but the increase in medical infrastructure coupled with the rise in medical beds had a positive impact on the market even during the COVID-19 pandemic situation. In addition, after 2021, the sleeping mattress industry is predicted to rebound. Further, there was a huge impact on the supply market of medical mattresses due to the sudden rise in demand. However, various countries from the Asia-Pacific region restarted their business activities. Major companies present in the market Tempur-Pedic International Inc, Serta Inc, Derucci, Simmons Bedding Company LLC, Hilding Anders, Recticel, Spring Air Company, MLILY, Select Comfort, Ruf-Betten, Kingsdown Inc., Corsicana, Southerland Bedding Co., Sleemon, Bed Holdings Co. Ltd., Pikolin, Kurlon Enterprise Ltd., Airland, Therapedic, Mengshen, Leggett & Platt, Paramount Bed Co. Ltd., Sealy Corporation, King Koil, Ashley, Sleep Number, Southerland Inc., Lianle, Breckle, Englander Mattress, Puffy Mattress, Comfur Mattresses Considered in the report • Geography: Asia-Pacific • Historical year: 2016 • Base year: 2021 • Estimated Year: 2022 • Forecasted year: 2027 Countries covered: • China • Japan • India • Australia By Mattress Type in the report: • Innerspring Mattress • Latex Mattress • Memory Mattress • Others Mattress ( Air, Water, Hybrid, Etc.) By Application in the report: • Domestic • Commercial By Sales Channel in the report: • Online • Offline By Bed Size in the report: • Twin or Single • Twin XL • Full or Double • Queen • King • Others Aspects covered in the report • Market Size By Value for the historic period (2016-2021) • Market Size By Value for the forecast period (2022-2027) • Market Size By Value for Innerspring Mattress (2016-2027) • Market Size By Value for Latex Mattress (2016-2027) • Market Size By Value for Memory Foam Mattress (2016-2027) • Market Size By Value for Other types of Mattress (2016-2027) • Market Share by Application (2016, 2021 & 2027F) • Market Share by Mattress Type (2016, 2021 & 2027F) • Market Share by Mattress Size (2016, 2021 & 2027F) • Market Share by Country (2016, 2021 & 2027F) • Market Share by End User (2016, 2021 & 2027F) • Market Share by Sales Channel (2016, 2021 & 2027F) Research approach While doing the research, we combine the expertise of our analysts and the capabilities of artificial intelligence. We take into consideration the inputs by the industry experts and leaders gathered through our primary research. We do go through the available secondary data, to understand the business analysts, discover deep insights and ideas from the marketing data. Then to finalize the market, we start collecting financials of each player present in the market including limited, private limited, and LLPs. Moreover, we perform cross-industry, cross-region analysis of the product, and based on collected primary inputs and using statistical modeling we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but giving more weight-age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, and PEST analysis, etc. Once the data expert verifies the data, the team together crosscheck the segmentations, validates the market. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, & organizations related to the industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.