Mattress Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Mattress Market Size Worth $43.2 Billion By 2025 | CAGR: 6.7%�
The global mattress market size is expected to reach USD 43.2 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Growing demand from the hospitality and real-estate sectors, especially in developing and emerging countries such as India, China, and Brazil will create robust demand for the product over the forecast period. A major factor boosting the growth of the global market is changing demographics. Rise in disposable income of growing middle class, especially residing in the urban areas or the ones moving from the rural areas to these regions in search of better education and job opportunities is anticipated to drive the market. Millennial consumers in countries such as U.K., U.S., and India have emerged as booming consumers of the global mattress market. High demand is mainly attributed to young consumers who are willing to pay a price higher than the usual for advanced products such as memory foam and airbed mattresses. For instance, Serta Inc. launched the iComfort hybrid mattress with TempActiv cooling technology and a new coil support system, which infuses copper into materials such as natural latex. This provides immediate body contact or closeness to the element itself as copper relieves pain, reduces arthritis-related inflammation, helps to cure several other medical problems, and increases overall energy level. In several emerging countries, the governments regard home ownership as an important policy goal and thus encourage it by creating interest payments on mortgages. For instance, Indian government's 'Housing for All' scheme, wherein the main motto of the government is to provide concessional houses to every individual residing in India, thereby augmenting the demand for household essentials such as mattresses and linens in this region. Premium hotel chains such as Hilton and Huazhu Group are focusing on providing excellent service to attract consumers. Thus, such inflating demand for mattresses from international hotel chains is likely to boost market growth.
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