North America Mattress Market Overview
The North America mattress market was valued at approximately USD 14.58 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 5% during the forecast period.
Market Definition:
In recent years, consumer preferences have shifted from traditional cotton bedding to modern alternatives such as rubber and latex, leading to a transformation in the mattress industry. Modern mattresses often incorporate multiple layers, including various types of springs, foams, and natural materials such as straw and feathers. Additionally, they can be filled with air, natural fibers, or water, enhancing comfort and support.
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Market Segmentation:
The mattress market is categorized based on product type, application, size, and geography:
- By Product: The market includes segments like Innerspring, Memory Foam, Latex, and Others (such as Gel, Hybrid, Air, and Water).
- By Application: Applications are divided into Household, Healthcare, and Hospitality sectors.
- By Size: The market includes various sizes like Twin, Full, and others.
- By Geography: The analysis covers major countries in North America, namely the United States, Canada, and Mexico, with market sizing and forecasts provided in terms of value (USD billion).
Market Dynamics:
A key driver of the mattress market is the increase in the construction of single-family homes and the rise of nuclear families, which is expected to boost demand throughout the forecast period. Additionally, the growing trend of home renovations, which has surged by 59% recently, contributes significantly to market growth. Consumers are becoming increasingly health-conscious, leading to a demand for high-quality products that support a healthier lifestyle. This shift presents opportunities for manufacturers to innovate in the design of sleep solutions, particularly in areas like memory foam mattresses and adaptive sleep technology.
The U.S. mattress industry faced significant challenges during the COVID-19 pandemic, which disrupted production and supply chains. Job losses and decreased incomes led consumers to prioritize essential purchases, resulting in a temporary decline in mattress demand. However, the aging population in North America, where over one in five individuals is aged 60 or older, is expected to drive demand for healthcare-related products, including specialized mattresses, in the coming years.
A notable challenge for the market is the prevalence of handmade mattresses. Many lower-income families opt for custom-made options, which may negatively impact the revenue of factory-produced mattresses. Despite rising living standards, some consumers still prefer handmade mattresses due to perceived comfort and quality, posing a challenge to market growth.
Segment Analysis:
- By Product: The innerspring segment is anticipated to lead the market during the forecast period, with a projected CAGR of 15.1%, driven by growth in the hospitality sector and increasing purchasing power.
- By Application: The hospitality segment is expected to dominate, while the household segment is anticipated to experience the highest growth rate, fueled by the increase in nuclear families.
Regional Insights:
The United States holds a significant share of the North American mattress market and is expected to see sustained growth. Mexico, while currently having the lowest market share, is projected to experience substantial growth, potentially reaching a market share of 10% with a valuation of USD 1.38 billion in the forecast period.
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Competitive Landscape:
This report aims to deliver a thorough analysis of the North American mattress market to stakeholders. It highlights prevailing trends and their potential impact on business investments and market expansion. Key players in the market include:
- Tempur-Pedic International Inc.
- Serta Inc.
- Derucci
- Simmons Bedding Company LLC
- Hilding Anders
- Rectice
- Spring Air Company
- MLILY
- Select Comfort
- Ruf-Betten
- Kingsdown Inc.
- Corsicana
- Southerland Bedding Co.
- Sleemon
- Bed Holdings Co. Ltd.
- Pikolin
- Kurlon Enterprise Ltd.
- Airland
Conclusion:
The report incorporates Porter’s Five Forces Model, assisting in strategic business planning within the North American mattress market. It evaluates competitive dynamics, market entry barriers, and the overall structure, providing valuable insights into how various factors shape the market landscape.
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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