Published By : 09 Aug 2016 | Published By : QYRESEARCH
Across the world, changing lifestyle has led to optional commodities such as mattress being transformed into necessities. Mattresses are available in a multitude of varieties based on style, size, and firmness. Post the economic recession of 2007-2008 and rising consumer confidence is positively influencing the mattress market in developed countries. On the other hand, rising disposable incomes is positively influencing the mattress market in developing nations.
Presently, the thriving hospitality industry is exhibiting substantial demand for mattresses. This is because consumers are spending liberally on leisure activities, which includes visiting luxury hotels for comfort reasons. Affluent consumers are willing to spend more for premium mattresses that guarantee greater comfort and sound sleep.
An increasing number of sales of new homes and renovation of old homes is surging the demand for mattresses. In developed countries of North America and Europe, these trends are attributed to increasing consumer confidence post the economic recession of 2007-2008. North America and Europe are the second-largest and third-largest contributors respectively to the overall revenue of the global mattress market.
On the other hand, in developing regions such as Asia Pacific, Latin America, and Africa, emerging economies are playing an important role in rising residential construction undertakings. In these countries, home renovation activities are on the rise due to increasing disposable incomes and changing lifestyle of consumers. In developing regions, large scale migration for work opportunities from rural to urban areas is also a major factor for increasing residential constructions. These factors are positively impacting the global mattress market.
At present, Asia Pacific is contributing substantially to the revenue of the global mattress market. This is mainly due to the surging construction activities for domestic and commercial needs in the region. Growing urbanization and a thriving hospitality industry in this region is leading to an increased demand for premium mattresses amongst affluent consumers and luxury and semi-luxury hotels.
Moreover, an increasing number of individuals suffering from spinal problems is also boosting uptake of specialty mattresses. To cater to this demand, newer materials such as coir and super soft foam are being used for the manufacture of specialty mattresses to address the health concerns of individuals.