From the available evidence, it seems certain that the concept of the mattress originated during prehistoric times. By lying on piles of leaves, straw, and animal skins, early humans were able to sleep more comfortably and more soundly than they could have on hard surfaces. As greater numbers of people left a nomadic, hunting existence for a settled, agrarian lifestyle, primitive furnishings, including the bed, began to develop. With the increasing technological advancements and disposable income, currently, an average consumer replaces a mattress every 8 years.
The increasing demand for the mattress is backed by the increase in the housing and hospitality. Apart from this, the increasingly busy schedule of people is causing mental tiredness, making sound sleep a necessity. The purchase decision for a good mattress depends on many factors such as price, availability, and the material. This has a huge impact on the type of mattress preferred by buyers. Being the oldest form of mattress, the innerspring mattresses are common across the world, holding up to a share of more than 50% in the market which is followed by latex mattress. In 2019, the market is lead by double bed or full mattress segment, whereas the queen and king together hold fewer shares. APAC and NA together contribute close to 65% of the revenues. Even though the market seems to be opportunistic, the challenges of less spacious houses and a high dominance of the unorganized market in the developing countries hamper the growth.
The hotel industry is consistently growing, with over 700,000 hotels around the world, recovering well from the 2008 recession. In 2019, the global hotel industry was worth USD 570 billion. This incline in the hotel industry has a great influence on the mattress market. Commercial grade mattresses are designed for the extra abuse that hotels and resorts get. They have higher coil counts and reinforcements that are only found in commercial grade designs. Highly dominated by offline retailers, the online mattress market is at comparatively a preliminary stage. As the millennial customer are more attracted towards the online shopping methods, that provides added discount and free trials, the online mattress retails is expected to grow with a CAGR of more than 20%, by the forecasted period.
