The global latex mattress market is expected to reach US$ 20 Billion by 2032, growing at a CAGR of 7% during the forecast period 2022-2032. As of 2021, the industry was valued at US$ 9.7 Billion, and is expected to reflect a Y-o-Y growth rate worth 5.1% to reach US$ 10.2 Billion by 2022. Growing preference for luxury lifestyle catering to better sleeping products is expected to drive market growth over the forecast period.
Over the last few years, a steady increase in the population of people who live alone has been witnessed. One-person households in various countries across the globe have increased significantly. According to a recent study, of the global two billion populations, around 15% comprises one-person households.
Europe has the highest number of one-person households globally. These rapidly increasing one-person households have led to increased demand for various types of furniture, especially beds, which, in turn, is creating significant demand for latex mattresses.
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Reasons for Covering Latex Mattress Market Title
Factors, such as rapidly expanding hospitality industry and healthcare facilities globally, increasing population across the globe, developing demand for eco-friendly products owing to growing health concerns, changing consumer buying behaviors and the growing trend of bed-in-a-box mattress will add to the growth of the latex mattress market during the forecast period.
Also, rise in demand for premium products and increasing availability of mattresses online are the factors that will influence the growth of the latex mattress market in near future.
Additionally, companies in the latex mattress market are significantly investing in research and development activities to introduce novel products, such as split firmness latex mattresses, to attract potential customers.
However, the high cost of latex mattresses, the fact that they are less comfortable than foam mattresses and availability of other mattresses are some of the factors that will hinder the growth of the latex mattress market during the forecast period.
Global Latex Mattress Market: Key Players
Some of the key players operating in the global latex mattress market are Sleep On Latex Company, Simmons Bedding Company LLC, Astrabeds LLC, Spindle Mattress Company, Dreamfoam Bedding Company, Sleep Number Corporation, PlushBeds, Inc., Royal-Pedic Mattress Manufacturing LLC, Spring Air International Inc. LLC, Organic Mattress Inc., Kinsdown, Inc., Pure LatexBliss LLC, Southerland, Inc., Relyon Company, Corsicana Bedding, Inc. and The Saatva Company, among others.
Various manufacturers in the latex mattress market are adopting innovative technologies for developing natural latex. For instance, Latex Foam International LLC is using patented phase-change material in its new latex mattresses.
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This unique latex mattress enables sleeper to retain a constant body temperature and offers contour ability that provides relief from back and shoulder pain. Such developments are expected to increase the demand for latex mattresses globally during the forecast period.
Opportunities for Global Latex Mattress Market Participants
Over the last few years, in the US, a significant increase in the percentage of households with at least three to four bedrooms has been registered. Bigger homes need more beds and mattresses and thus, manufacturers are witnessing opportunities in the U.S. latex mattress market. Moreover, nowadays, millennial consumers regularly change furniture to stay in trend.
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