North America Mattress Market Valued at $14.58 Billion in 2023: Expected Growth at a 5% CAGR Over the Forecast Period

North America Mattress Market Overview

The North America Mattress Market was valued at USD 14.58 billion in 2023 and is projected to reach USD 20.52 billion by 2030, growing at a CAGR of 5% during the forecast period (2024-2030).

Definition

The mattress industry has evolved from traditional cotton mattresses to advanced foam and hybrid varieties. Modern mattresses incorporate springs, foams, and natural materials like straw and feathers, with innovations such as air, natural fibers, and water filling.

Market Segmentation

The North America Mattress Market is segmented as follows:

1. By Product:
   • Innerspring
   • Memory Foam
   • Latex
   • Others (Gel, Hybrid, Air, and Water)
2. By Application:
   • Household
   • Healthcare
   • Hospitality
3. By Size:
   • Twin
   • Full
   • Others
4. By Geography:
   • United States
   • Canada
   • Mexico

For a thorough understanding, explore the full study via this link:https://www.stellarmr.com/report/req_sample/North-America-Mattress-Market/964

Market Dynamics

Drivers

• Increasing Home Construction: The rise in single-home construction and nuclear families is driving mattress demand.
• Home Renovation Trends: A 59% increase in home renovations has fueled mattress sales, as consumers seek improved living conditions.
• Health Awareness: Growing consumer awareness about health-related products is prompting a shift towards high-quality, comfortable mattresses, such as memory foam and adaptive mattresses.

Challenges

• Competition from Handmade Mattresses: Many consumers prefer homemade mattresses due to their comfort and cost-effectiveness, which poses a challenge to factory-made mattress sales.
• Economic Constraints Post-COVID-19: The pandemic has affected consumer spending, leading to a focus on essential purchases.

Opportunities

• Aging Population: The increase in the elderly population, particularly those over 60 years, is raising demand for healthcare-related mattresses, including medical-grade options.

Segment Analysis

• By Product:
  • The innerspring segment is anticipated to dominate the market with a significant CAGR, capturing around 15.1% of the market share due to its popularity in the hotel industry and rising consumer purchasing power.
• By Application:
  • The hospitality segment is projected to lead the market, while the household segment is expected to experience the highest growth, driven by increasing nuclear families.

Regional Insights

• United States: The U.S. holds a dominant share in the North American mattress market and is expected to maintain its position due to high consumer spending and demand for innovative products.
• Canada: Canada is also a significant player, with its market expected to grow alongside U.S. trends.
• Mexico: Although it has the smallest share, Mexico’s market is anticipated to grow notably, capturing around 10% of the market share and reaching a valuation of USD 1.38 billion during the forecast period.

For a thorough understanding, explore the full study via this link:https://www.stellarmr.com/report/req_sample/North-America-Mattress-Market/964

Key Players

The report identifies major players in the North America Mattress Market, including:

• 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

Competitive Landscape

The report analyzes the competitive structure of the market, focusing on market leaders, followers, and regional players. Key factors include company size, market share, revenue, production volume, and recent developments. Tools like Porter’s Five Forces Model and PESTEL Analysis are employed to assess the market dynamics and strategize effectively.

Conclusion

The North America Mattress Market presents a robust growth opportunity driven by evolving consumer preferences, demographic shifts, and increasing health awareness. However, challenges such as competition from handmade products and economic fluctuations must be addressed to leverage the market potential fully.