Global Mattresses Market to Reach US$24.65 Billion by the year 2017, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Mattresses market. The global market for Mattresses is projected to reach US$24.65 billion by 2017, primarily driven by factors such as growing home ownership, huge pent-up demand from premium customers, and rising opportunities from niche markets. Robust demand from developing markets, particularly Asia-Pacific, also augurs well for the market.

Mattresses: A Global Strategic Business Report

Follow us on LinkedIn - The mattress industry has metamorphosed over the years from a dull, predictable and slow growth market into an aggressive, dynamic and lucrative marketplace. The market over the years has witnessed numerous new product innovations and introductions resulting in a wide array of choices for consumers. Today, there is something for everyone and literally so, ranging from general-purpose and specialized products to high priced/luxury bedding and economical products. New technology and innovative products are all in plentiful and driving growth in the mattresses market worldwide. Sleep, as a measure of health and well-being is being increasingly looked upon as one of the most crucial necessities, particularly in the present day harried and hectic life. Therefore, the importance of a good quality mattress for a relaxing sleep and refreshing day among all sections and age group of consumers just cannot be undermined any more. So much is the value attached to a good night’s sleep that consumers are more than willing to pay a premium price for the luxury of relaxing on an excellent quality mattress, particularly one which offers health benefits too.

After witnessing years of steady growth, the global Mattresses market experienced a decrease in overall sales in years 2008 and 2009, due to economic pressures, decline in consumers' wealth and weak housing market. The decline was largely the result of the collapse of the construction industry, especially the fall in construction starts. And since mattresses are installed in both new residential and commercial constructions, the lull in construction activity dampened the global mattresses market. Delays in replacements, postponement of purchasing decisions, transition from higher priced premium products to lower priced mass market products/brands are typical fallouts under such scenarios. It is therefore of little surprise that the recent economic uncertainty slashed down the value sales of mattresses market, worldwide. While both the product categories suffered declines, specialty mattresses that are manufactured without using innersprings, such as viscoelastic mattresses, latex mattresses, memory foam mattresses, waterbeds, and airbeds, witnessed steepest falls. Given their higher price range, specialty mattresses are usually sold with financing agreement provided by retailers. Due to the effects of the recent credit environment, financing availability by the retailers decreased putting pressure on the high-end price points. Moreover, consumers of higher-priced mattresses either deferred their purchases, and/or traded down to low priced mattresses due to reduction in discretionary spends.

However, with economic conditions improving in the year 2010, the market staged a remarkable comeback during the year and is now expected to experience healthy growth in the upcoming years. Increased discretionary spending, GDP growth, improvement in liquidity situation, softening of interest rates, continued urbanization, pent-up consumer demand, increased infrastructure spends, and expected recovery in the construction space by 2012 are key factors expected to put the growth momentum back on track. The mattresses industry will also be a key beneficiary of rising home ownership, larger homes with more bedrooms, as well as various governmental initiatives such as the Home Improvements Revitalize the Economy (HIRE) Act of 2009. As the economy improves further in the short to medium term period, the global mattresses market will regain lost momentum, encouraged by the fact that good night’s sleep will continue to remain key factor in hospitality, residential retail, institutional and healthcare sectors.

A major portion of the new mattress demand will come from premium bedding customers that deferred big ticket purchases during economic woes, as a result of which non-innerspring (specialty) segment is forecast to be the fastest growing segment within the mattresses market in the post recession years. In the post recession period, mattress dealers are expected to focus on niche markets in order to remain competitive. As consumer returns to the trend for enhanced sleep experience and quality of life enhancement in the post recession period, demand for specialty segments will continue to accelerate, adding more value and convenience with advanced technologies.

As stated by the new market research report on Mattresses, the US continues to remain the largest regional market worldwide. Asia-Pacific remains the fastest growing regional market for mattresses with dollar sales from the region surging at a CAGR of 12% over the analysis period. Growth in the Asia Pacific market will be especially driven by rapid expansion in building and residential units in key developing nations such as China and India, increasing spending power among people, and presence of large relatively untapped regional markets. Non-Innerspring (Specialty) represents the fastest growing product segment. Demand for specialty mattresses will be especially driven by richer and higher-end consumers looking for health-related and other specific attributes in their mattresses.

Major players in the marketplace include International Bedding, Comfort Solutions, Kingsdown Inc, Relyon Limited, Sealy Corporation, Simmons Bedding Company, Serta International, Spring Air International LLC, Select Comfort Corporation, and Tempur-Pedic Management Inc.

The research report titled “Mattresses: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for product segments Traditional Innerspring, and Non-Innerspring (Specialty), across all major geographic markets including the US, Canada, Japan, Europe (France, Germany, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Mattresses_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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