The Mattress market is growing significantly, across the globe. The market is driven by the increasing demand for home furnishing and interior decoration, in countries like India and China, backed by rapid urbanization and rising consumer spending. Apart from this, surging investment in healthcare facilities that results in the construction of medical centers and hospital, also generates demand for mattress for patient beds.
According to a new market report published by BlueWeave Consulting, the global mattress market was valued around USD 30,000 Million in 2017 and is expected to expand over a CAGR of 7% from 2018 to 2024, by value, reaching around USD 50,000 Million by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the global mattress market in 2017.
Growing demand for tour and travel, resulting in the growth of hotel industries is driving the Global Mattress Market
The factors that enhance the global mattress market are increasing demand for mattress from the hotel industries for room service and provision of best class facilities to the customers. As per the annual report of Ministry of Tourism, India, Foreign Tourist arrival in India has increased from 8.8 Million people in 2016 to 10.18 Million in 2017 and it has increased from 9.7% over 2015 to 15.6% over 2016.
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Global Mattress Market: Scope of the Report
The global market for mattress is segmented by product type, size, distribution channel, application, and geography. The product type is further segmented into Memory Foam, Innerspring, Latex, and Others. The size of mattress is further segment into Twin or Double, Twin XL, Full or Double, Queen, King & Other sizes. The distribution channel is segmented into an Online and Offline channel. Furthermore, the application market can be bifurcated into Residential, Commercial & Industrial segment. Geographically, the Global Mattress Market is bifurcated into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
Global Mattress Market: Competitive Dynamics
Major industry players in global mattress market are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for strategic expansion in the Mattress Market market.
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By Product Type
- Memory Foam
- Twin or Double
- Twin XL
- Full or Double
By Distribution Channel