Global Mattress Market Expected to Reach US$ 68 Bn by 2027

Transparency Market Research delivers key insights on the global mattress market. In terms of revenue, the global mattress market is projected to expand at a CAGR of ~ 7% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the mattress market report.

The global mattress market is expected to be valued at ~ US$ 40.5 Bn in 2019, and expand at a CAGR of ~ 7% during 2019 - 2027. Increasing expenditure on home furnishing and growing preference for interior designing are expected to boost the global mattress market in the near future. The rising home ownership rate is the major driver for the growth of the mattress market during the forecast period. Rise in urbanization due to the migration of people from rural areas to urban areas for work opportunities is increasing home ownership rates. The mattress market is positively driven by these factors. Product supply has increased due to the growing number of mattress suppliers in the market, which results in the growth of the product portfolio. These days, consumers take keen interest in the interior designing of their houses. They are opting to replace old household furnishing items with new ones to match the interiors. Rising income, which boosts purchasing power and improves lifestyle, has prompted the purchase of new mattresses, which further drives the mattress market across the globe.

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Rise in consumer preference for mattresses has encouraged key players to innovate and develop new products to increase their capacities and expand their footprint in the global market, and focus on product portfolio expansion. However, scarcity of raw materials used for mattress manufacturing is forcing suppliers to increase the prices of their products. This price hike of premium products is encouraging price-sensitive consumers to buy products from local vendors, which is expected to hamper the growth of the global mattress market.