Bedding Industry To Rise Up Due To Rapidly Growing Population
Global bedding sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
The global bedding industry was valued at USD 148.06 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.
Bed Linen Market Analysis & Forecast
The global mattress market size was valued at USD 41.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Consumers are becoming more aware of the importance of getting a good night's sleep for their overall health and wellness. As a result, there is a growing demand for bed linen that is comfortable, soft, and promotes restful sleep. Additionally, as home decor trends continue to evolve, consumers are looking for bed linen that reflects their personal style and complements the overall design of their homes.
The sheets & mattresses segment accounted for the largest share of the bed linen market in 2022. This is mainly attributed to this product being a common requirement in almost every house and hotel. Consumers such as homeowners and hotels try to match the sheets and mattress covers with the room designs. Various design options such as floral, geometric, and checks are available in this segment, making it a huge category in the product segment. With more development in the housing and hospitality sector, sheets and mattress cover types will continue witnessing a growth in demand.
Mattress Market Analysis & Forecast
The global mattress market size was valued at USD 58.18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. Increasing product demand from the real estate sector to serve the needs of the residential segment has led to an increase in the sales of home furnishings, such as mattresses, pillowcases, and bed linen products, among others. However, the COVID-19 pandemic has impacted the growth of the market. People were reluctant to leave their homes because of the pandemic. As a result, the e-commerce sector has experienced growth, and businesses are creating innovative tactics to enable customers to purchase mattresses from the convenience of their homes.
Consumer willingness to pay for sleep solutions has changed significantly worldwide, not just in the major cities but also in smaller cities and towns. People’s desire to conduct in-depth research, compare pricing and make knowledgeable selections when purchasing mattresses and other sleep solutions have substantially improved as awareness has expanded. The increasing number of luxury hotels in the U.S. is also expected to significantly contribute to revenue growth as the bedding used in these hotels is of superior quality. These products cost a lot more than regular bedding products and this is projected to positively impact the mattress market.
Global industry has been further categorized into Asia Pacific, North America, Europe, Middle East & Africa, and Central & South America. Asia Pacific dominated the global industry in 2021 and accounted for the maximum share of more than 37.90% of the overall revenue. North America region is also expected to witness a considerable growth rate from 2022 to 2030. Major home improvement projects undertaken by consumers in the region are boosting the demand for high-end mattresses.
Pillows Market Analysis & Forecast
The global mattress market size was valued at USD 16.60 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. Consumers are looking for pillows that meet their specific needs and preferences, such as pillows that are soft or firm, have a certain shape or size, or are made from specific materials. Moreover, people with health concerns, such as allergies, asthma, or sleep apnea, seek pillows that can address these issues and provide relief. Advancements in pillow technology have also been boosting the demand for pillows offering overall comfort.
The demand for pillows is expected to rise in the commercial sector due to increasing emphasis on guest comfort in the hospitality sector. The hospitality industry, including hotels, resorts, and vacation rentals, is placing a greater emphasis on guest comfort to provide a better guest experience. This includes providing high-quality pillows that offer the necessary support and comfort for a restful sleep.
Blankets Market Analysis & Forecast
The global mattress market size was valued at USD 31.94 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. The global blanket market size was valued at USD 17.0 billion in 2018. Growing application of blankets in the commercial sectors including travel and hospitality, military and defense, and charity is expected to have a positive impact on the market growth. Furthermore, the market has seen a boom as a result of innovation and ease of product availability in affordable price ranges.
The industry is expected to witness further growth as a result of the increasing demand for luxury and comfort among the working-class population in developing countries such as India and China. The pattern, material, and color of blankets play an essential role in influencing the buying behavior of consumers. Considering the change in the buying patterns, a preference for bold and dramatic colors has been observed among consumers. Blanket manufacturing companies have been incorporating these preferable colors and patterns in their new products.
North America was the largest market in the year 2018, accounting for more than 30.0% share of the total revenue. Factors supporting the sales in the region include climatic conditions, a large number of hotels, a gigantic defense force, and charity done by both individuals as well as corporate. Asia Pacific is expected to expand at the fastest CAGR of 5.2% from 2019 to 2025. Fluctuation in climate conditions in key markets, along with a strong hold of middle-income age groups, is expected to promote the utility of blankets. Go through the table of content of Bedding Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Bedding Industry Data Book Competitive Landscape
The manufacturers use a variety of strategies, including acquisitions, the introduction of new products, partnerships, and the bolstering of their distribution networks, to achieve maximum company growth and a strong marketplace. Manufacturers of bedding goods intend to strengthen their market positions by expanding their clientele. Therefore, major market players are pursuing mergers, acquisitions, and other strategic initiatives to achieve business development in the regional market.
Key players operating in the bedding industry are –
• Acton & Acton Ltd. • Tempur Sealy International, Inc. • American Textile Company • Serta Simmons Bedding LLC • Casper Sleep Inc. • Boll & Branch LLC • Beaumont & Brown Ltd. • American Blanket Company • Chellco Industries Limited • Jindal Woollen Industries Ltd. • Youngman Woollen Mills Private Limited. • Spring Air International • Sleep Number Corp. • Kingsdown, Inc. • Pacific Coast Feather Company • Trident Ltd. • Crane & Canopy Inc. • Peacock Alley • Purple Innovation, Inc. • Southerland Sleep
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